When we talk about business management, we deal with a lot of systems to properly implement such as system for the company’s work flow, system that will allow coordination between each department, and of course, the payroll system.
The latter plays a very significant role as it deals with figures and reflects each of the employees’ productivity. Payroll system deals with figures therefore accuracy is very crucial and a single mistake can create a crack on the company’s credibility.
Many companies have a general misunderstanding about the capabilities of electronic time clocks and bundy clocks. Complicated computations and configurations lead “traditional” time clocks into generating inaccurate information that will reflect in the payroll giving you and your employees a massive headache during pay days.
Making a payroll more extensive can be achieved with the help of award interpretation software also know as time and attendance software. This software translates the clocking events or the attendance of every employee composed from electronic time clock into a comprehensive report based on the company’ time and attendance rules and regulations.
These rules and regulations may refer to the employees’ pay rates, allowances, bonuses, loadings and penalties that are taken into account by the time and award software that are eventually interpreted into more meaningful information, thus the name award interpretation.
There’s a common misconception between time clock software and a time and attendance software. Time clock software primarily tracks the employee’s work hours while time and attendance software do beyond that by performing more complex calculations that can be attributed to a specific employee under specific department and duty performed. However, it is widely accepted to refer to time and attendance software as another term for award interpretation software.
Setting aside the complexity, award interpretation software is easy to use as long as you have implemented it properly and you have made a comprehensive conversation with the software’s provider or vendor. It can generate accurate information in no time and can also adapt with certain changes or configurations with ease if needed. It is designed to converse not only with the payroll system, but also with other hardware terminals and even the internet while providing a user-friendly interface.
When it comes to maintenance, as long as you maintain your computer hardwares in good condition, your award interpreting software will run perfectly. In case of system technical troubles, this software is programmed to notify you if there are issues to be resolved but if a sudden shut down occurred from nowhere, all the data are safe in a back-up storage enabling time and attendance information invulnerable from system failures.
Time and attendance is the foundation of your company’s growth that’s why managing it should also be prioritized. If your budget is holding you back, don’t worry there are still reliable time and attendance software providers that are not only after your money.