Whether you’re a Fortune 500 company, small business or even a startup, at some point you’ll need to invest in time clock software.

With the end of 2019 and the start of 2020, businesses are entering the time of year where they will need to account for a wide variety of expenses ranging from paid time off, maternity and paternity leave, bereavement, employees being late or stuck in inclement weather, hours worked and invoices paid.

Time clock software helps companies around the world manage and calculate that so they can run effectively and efficiently.

Aside from being able to ease the burden off of human resources departments and administrators having to input various analytics to meet payroll, time clock software enables various features such as tracking business and spending expenses for travel, employee hours, client services, invoicing and budgeting.

With more and more people working from home, and working less than the traditional 40 hour work week, time clock software enables businesses to keep track of workers more efficiently. As businesses continue to grow and expand–as well as outsource more jobs abroad–the use of time clock software is critical for major corporations.

Say for example, if you’re a growing company with an expanding payroll, a list of demanding clients, investors and employees that you need to keep track off, a time keeping app along with a time clock software management app would be just what the proverbial doctor ordered.

They say that time is money, and the one thing you can never get back is time wasted, with employee time tracking apps such as Buddy Punch, companies can now easily manage payroll—as well as saving time and being more efficient—in using such as app as this, as it easily integrates into a businesses’ accounting software.

Other great benefits of using time clock software is that they can be uploaded, exported and downloaded to Excel, CSV or PDF, making it easy for both employers and employees. According to the tech review website, Woo Fresh, The top ten best time clock software apps are Zoho People, Time Clock Wizard, Open Time Clock, Easy Clocking, the aforementioned Buddy Punch, Virtual TimeClock, TimeClick, ShiftPlanning, TrackSmart and Time Clock MTS.

Like all of the aforementioned apps, Buddy Punch shares a lot of features that a lot of the top-tier apps have such as fingerprint security, auto-rescheduling, labor cost, mobile app and GPS tracking, screenshot monitoring, mobile and tablet ready, automatic break scheduling, web cam support and time off management.

Bottom line is that all of these time clock apps are supposed to help a company manage more clearly and effectively while tracking their employees accurately. Depending on a companies budget, moist time clock software apps range from between $12.95 a month to as high as $200. If a company feels that such an app is worth an investment, it will be one that pays for itself over and over again in making their lives a lot easier.

According to Software Advice, the main benefits of clock software apps are payroll in tracking employee salaries, 401 (k) contributions, tax withholding, time and attendance tracking in allowing companies to manage employee benefits, PTO, medical/dental/life insurance policies and 401 (k) participation and applicant tracking in helping to centralize applicant information and customizing hiring workflow, resume management and applicant scoring.

Some of the best and most notable clock software management software such as Zenefits, BambooHR, ADP Workforce Now, Paycor are the silent backbone behind notable companies such as ADP, Nike and McDonald’s

When one thinks of “time clock”, images of an old, antiquated and clunky punch-in monitor are the first things to quickly come to mind. Blame it on pop culture, but that is not the case as many companies today use advanced methods of employee time management such as fingerprint scan, bio metrical scanning and data input methods.

Time clock software and apps allow businesses to capture employee work hours electronically. Employees can clock in and out using a computer, tablet, smartphone or smartwatch, while managers and HR departments can use the system to do things such as track shifts and generate reports.

Available either as a stand-alone tool, time clock management if often more part of a workforce management suite that is integrated with other applications to work along with personnel tracking and payroll. One overlooked aspect of time clock software that is very beneficial to companies are their abilities to track job costing, GPS tracking for remote workers, employee shift scheduling and labor regulation management.

What is critical in decided what type and kind of time clock software to purchase, there are two deployment options that buyers can choose from: on-premise and cloud-based (also known as web-based or software-as-a-service).

On-premise time clock software is hosted internally on a company’s own servers and enables a business to manage their own data and connect to the system without an internet connection. Where things become an issue is if a company doesn’t have their own servers, or an internal IT department to manage them.

Cloud-based time clock software, on the other hand, is hosted on the software vendor’s servers and is accessed using a web browser and internet connection. The nice thing here is that the vendor handles all of the hosting, maintenance and upgrade duties.

If you’re a CIO (Chief Information officer) or CTO (Chief Technical Officer) of a company and doing some research into deciding which product to buy, one of your questions you’ve already asked yourself is if time clock software different from time and attendance software?

While time clock, time tracking and time and attendance software all mean the same thing. All of these systems have functionality for employees to clock in and out and for managers and HR departments to track hours worked. While time clock management software does some of the advanced things like shift scheduling, shift switching and schedule distribution, a company would be best suited to look into purchasing employee scheduling software instead.

Bottom line is this, if you’re a business looking to streamline and operate more efficiently and keep track of expenses, employees and labor, investing in time clock software may be a wise acquisition for bot your company and organization.

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