What is Enterprise Time Tracking? (Part One)
Is it needed? Is it possible?
Tracking employee time and work is critical for payroll, billing, time
off management and attendance. Each process requires the capture of time
and work data. These are accomplished adequately by manual or automated
systems often operating in their own “silos.” While it might be possible
to have them in one system, do the benefits of this outweigh the costs?
Five Benefits of Enterprise Time Tracking:
1.Visibility: to understand an employee's work time you need the full
picture of their schedule including time off requested, time off
scheduled, and holidays.
2.More Accurate Data for Payroll and Billing: paying employee (and not
overstated) overtime or double time requires accurate hours tracking,
including start and finish times. You might also need many methods of
data capture such as web timesheets, time clocks, smart phone timesheets,
Interactive Voice Response phone time cards, crew timesheets. A
significant hidden cost of manual systems, and the built-in time lags
required to run payroll and billing, are an increased number of
adjustments and corrections payrolls and invoices after they have been
3.More Accurate Data for Time Capture: new employees, inactivated or
terminated employees, supervisory assignments, new projects, inactivated
activities are the bane of manual systems. Communicating these changes
manually through phone, fax, email or snail mail ensures that managers
and employees are in the dark longer than they should be about what to
work on, when someone is out of the office or who reports to who.
4.Sarbanes Oxley Compliance and Limiting Liability: time off management
is the obvious area to benefit not just for SOX compliance but to ensure
that employee time off balances are not overstated and leave taken is
accurately recorded. When it's time for the employee to move on you will
be writing them a much smaller check for unused leave. You will also be a
lot less likely to have to appear before a labor board for denying an
employee accrued leave or overtime earned.
5.Everything in Sync: having your HR system, payroll and project,
attendance, and time off tracking not in sync means a lot of errors. It
also means a lot of inaccurate data, corrections and in the worst case
flat out errors in pay, bills, time off balances and attendance late
6.Everything on Time: automated systems can remind employees and managers
to complete the most important tasks of time and work tracking
automatically. If they are late, automated systems can escalate approvals
until they are completed.
7.User Acceptance: if you have a mix of five separate manual and
automated system that employees need to use you can be sure they will be
less likely to use them. When you consolidate systems, workflows
simplify, employees and managers can get everything done in one place,
and those not in compliance stand out like a crumpled paper timesheet.
Is it possible?
My next article will explore how enterprise time tracking is possible.