4 Ways Cloud-Based HCM Solutions Help With Timekeeping

It’s crucial to stay on top of the latest technologies to help sustain and grow your organization

Trying to manage today’s rapidly evolving remote workforce with outdated software has been shown to drag down productivity, raise costs, and increase risks of noncompliance. Today’s workforce is mobile, schedules are not only 9 to 5, but flexible and constantly changing. Outdated systems are also difficult to navigate, leading to low user adoption rates and errors throughout the organization. To work smarter, not harder, it’s crucial to stay on top of the latest technologies to help sustain and grow your organization.

Modern, cloud-based human capital management (HCM) platforms enable organizations to communicate and streamline all aspects of employee management. In addition to onboarding, payroll, and benefits administration, one of the most important features that HCM solutions offer are timekeeping and scheduling modules. Now more than ever, an automated time and attendance component is vital to gain visibility and insights into employee productivity and engagement as teams work remotely. Here are four benefits of upgrading to a cloud-based HCM solution to keep track of time and attendance for remote employees.

An automated HCM solution provides employee self-service capabilities that fully engage personnel to view and manage their own personal information such as requesting time off or tracking hours worked on client projects. These capabilities can drastically reduce the workload for internal departments by decreasing the number of daily employee requests they receive for information. By streamlining the record-keeping process, HR staff can focus on more pressing priorities such as company strategies. Today’s HCM solutions even support mobile access for fast and easy access to information anywhere, at any time – which is especially helpful for employees working remotely.  

Consistent compliance with labor-related Covid, PPP, and other regulatory policies is mandatory, and out-of-date software can have a detrimental impact on achieving it. Timekeeping software not only makes managing regulatory compliance information easier, but it also can provide real-time updates which is necessary to stay informed on state and federal work laws and to maintain compliance with laws such as the Affordable Care Act.

Outdated, unreliable timekeeping systems not only slow down workflow processes, they also increase security risks. To reduce the likelihood of system crashes and security breaches that could disrupt corporate payroll operations, security updates and patches should be frequently applied to timekeeping systems. With a cloud-based HCM solution, system upgrades are installed automatically — which means your organization will always be using the most up-to-date, secure version of the software.

An HCM solution can help your organization save on expenditures, software maintenance, and the maintenance of application servers while reducing the number of IT staff needed to deploy and manage them. As a result, IT productivity often increases as staff can focus on business growth instead of everyday IT administration. Additionally, many HCM solutions are offered as software as a service (SaaS) models, which eliminate the need to purchase expensive hardware and offer rapid scalability. SaaS models are also typically funded from operational budgets, rather than being considered a capital expenditure.