Managing Payroll with the SaaS Model – How Does It Work?

Fingerprint Time Clock SAAS ModelWhat exactly is SaaS?

SaaS or “Software as a Service” is the latest phenomenon in the world of Information Technology. It is basically a way of operating software that can be accessed from any device with an Internet connection and a web browser. Also referred to as “Cloud Computing”, this web-based model involves the hosting and maintenance of software by service providers over the Internet as opposed to having the software hosted internally by an ASP (application service provider). Managing payroll with cloud-based time and attendance software is a classic example of a successful SaaS model.

Why should I prefer SaaS over traditional payroll software?

SaaS has been hailed as the perfect solution for organizations seeking cost-effective, uncomplicated and hassle free software applications to run their businesses, specifically when it comes to managing payroll. For instance, if a small business were to internally host the software required to run a fingerprint time clock, it would involve certain operational costs, not to mention the need to address any maintenance problems that may arise and affect operational efficiency. Additional operational expenses to internally host software include the cost of a physical server, server storage space, and the cost for database management and IT staff to maintain the server. In addition, it becomes the sole responsibility of the company to ensure the software is properly operating.

With SaaS, all payroll data is accessed and managed via the Internet and is stored on servers that are hosted and maintained by service providers. There is no need to make room for an actual server in your office, or to hire additional staff to monitor and manage your server. Better yet, if there is an issue with your payroll software, the service provider takes care of it. For example, if you are using time and attendance software, you do not need to deal with the hassle of making sure it’s running smoothly. In other words, you are outsourcing your IT responsibilities to the SaaS vendor who takes care of all the trouble shooting, maintenance and upgrades.

Is my data secure with SaaS vendors?

This is one area that often causes business owners to stop and think about their data security. In reality, SaaS vendors like time and attendance software service providers are able to adopt far more effective and stringent security measures than a small or medium sized business can afford on their own. In addition to security, these types of service providers are also far more advanced in terms of maintenance and data backup. It’s their business to protect your information and they take that responsibility serious.

Can SaaS save me money?

If you own a business and are looking to manage the time and attendance of your employees, consider looking into SaaS. It’s a great option for any company to manage payroll, and can save time and money in the process.

The SaaS model for managing programs like fingerprint time clock software enables small businesses the ability to enjoy the full features of their payroll software, without having to bear unnecessary costs for expensive hardware and IT support.

How Badly Does Time Theft Affect Your Business?

Time TheefTime theft may sound like a rather mundane problem to you, but it is one of the biggest reasons that an organization’s operational costs pile up. Time theft takes place

in many different forms and happens at almost every business, small or large. Some of the most common forms of time theft include buddy punching, proxy attendance, late arrivals, early departures, and unauthorized overtime. Fortunately, there is a simple and cost effective recourse for business owners who are up against time theft. Solutions such as employee time keeping software have been proven to reduce and often eliminate practices of time theft, saving businesses thousands of dollars each year.

In 2009, a joint report by The Boston Globe and The Denver Post concluded that almost 20% of every dollar a business makes is lost to practices like time theft. The report estimated that the annual cost of time theft to US businesses can be as much as $400 billion per year. Such a statistic makes a small business owner wonder how much of this amount is coming out of his or her own pocket. Considering the severity of the issue, it is hardly surprising that so many businesses have been acquiring time and attendance systems such as a biometric fingerprint time clock to protect their interests and ensure their employees are accountable for work hours.

Time theft in such large numbers directly affects the bottom line of any business. In some instances, costs related to time theft can be passed on to consumers. Of course, even in this scenario businesses are at the losing end because transferring costs to consumers renders the business overpriced and non-competitive in the marketplace. Time keeping software is the ideal application to challenge and conform the menace of time theft, and help companies maintain a competitive edge.

Time attendance and payroll data recording systems that use biometric biological features, such as fingerprints, for employee identification have proven to be the best defense against time theft. A biometric fingerprint time clock leaves no room for employees to engage in time theft. Businesses are able to keep their operational costs within reason after the implementation of an employee time management system, and focus on increasing profits. In addition, improved employee productivity and organizational efficiency are a few extra bonuses that come along as a result of time theft elimination.

Online Time & Attendance Software for Small and Medium Enterprises

Time & Attendance SoftwareA majority of small and medium enterprises start up with limited capital. This often means that the business owner has to take on many responsibilities. Having too many administrative tasks can hinder the progress of your company because it shifts your focus from the core responsibility of business development. If you find yourself faced with this situation, you can transfer some of the burden of administrative tasks by acquiring business management applications like online attendance software.

Managing employee payroll is one of the most important administrative tasks for small and medium businesses. This is usually the area with the second largest share in operational costs, coming in right behind raw material costs. Time & attendance software plays a major role in reducing your overall spending on payroll. In addition, the power of automation comes in handy for streamlining every aspect of your operational processes.

Online attendance software is the best application for accurately tracking employee work hour information. In the absence of time & attendance software, it can be extremely difficult to manage and track employee time and attendance, and the end result is not always error free. Manual time tracking is inaccurate, vulnerable to manipulation, and time consuming in comparison to automated payroll data collection via online attendance software.
In addition to accurately recording employee work hours, time & attendance software has a lot of other advantages for small and medium enterprises. For example, it can process employee time and attendance data for payroll purposes after it has been recorded with online attendance software.

Time & attendance software can also be integrated with your existing payroll system, and can export data into a number of formats. By simply using online attendance software, one of the most complicated tasks in small businesses easily becomes streamlined making payroll accurate, reliable and hassle free.

Time & attendance software helps in other areas as well, such as project allocation, job costing and employee productivity evaluations.