Time fraud is a major concern that can cost on average 3% of your payroll. According to other research, companies are losing billions of dollars due to buddy punching and time fraud. Time theft affects almost every industry. But the worst sufferer is the retail industry that relies on part-time workers, where a simple 1-hour time fraud at work can cause a loss of billions of dollars per year. The good news is, an affordable Kronos time clock alternative, which is known as RightPunch, can solve this problem so easily. You just need to deploy the system and the rest will be done by itself. The system is affordable, easy to use, and very accurate in providing results. Here is a how Kronos time clock alternative can eliminate time fraud at work.
Eliminating Buddy Punching
Buddy punching occurs when one employee punches their time card for another employee. It happens when an employee cannot arrive at work on time or take unauthorized leave without raising the concern of the authorities. In RFID or password-based systems, buddy punching can be done so easily because employees can share their password credentials and RFID cards with their colleagues. Kronos alternative time clock RightPunch uses biometric technology for employee clock-in and clock-out. Biometrics are the unique attributes of humans that cannot be forged or forgotten. So, while using RightPunch, the system leaves no room for manipulation and thus stops buddy punching as well as time fraud at work.
Time fraud occurs when your employees find loopholes in your system, that is when they find ways to fool the system and see there is no system to catch it. There’s no doubt that using a conventional system can allow for fraud, and there is no such way to catch the fraudster. RightPunch, the Kronos time clock alternative, uses biometric technology for employee time attendance. This makes employees accountable. Biometrics leave no room for falsifying time attendance, making each employee accountable, and thus eliminating time fraud at work.
Difficult to Forge
RightPunch uses biometric technology which is nearly impossible to forge. You can share your password credentials but you cannot share your fingerprint or iris or face to others. So, it becomes nearly impossible for time fraudsters to manipulate or break the system. So, when your system cannot be manipulated, you will be free from all kinds of time fraud in your office.
Forever 21, Inc. headquartered in Los Angeles, California, is a fashion retailer of women’s, men’s, and kid’s clothing and accessories. Being one of the largest retailer chains in the USA, it runs more than 700 stores in 48 countries. To manage their store’s employees in 48 countries, they were looking for a solution that could accurately track employee time attendance and can prevent time theft, buddy punching, and ghost employee problems for their retail stores. RightPunch, a biometric time clock for Kronos, helps them to eliminate these problems from their retail stores and helps them to manage their time efficiently, which drives profit. Read their success story of Forever 21,on how they eliminated such problems from their stores using biometric time clock solution for Kronos.
So, do you want to manage time efficiently and effectively like Forever21? Then, reach out to us; we are M2SYS technology, and with over 17 years of experience, we are sure to help you with the best solution.