By Marc Aptakin, CEO and Founder, Timesly
Time theft can lead to steep losses in revenue. For chain store owners and managers in particular, every minute impacts the business’ bottom line. Managing your workforce properly is one of the most critical components to success, and fortunately, the industry is experiencing a new wave of technological advancements for those looking to do exactly that. Here are a few examples to help you improve efficiency, increase cash flow and cut down on lost time.
Biometric technology measures distinct, physiological characteristics among individuals to better identify them. In a business environment, biometric technology has taken the form of retinal scanners, fingerprint readers and facial recognition software. Employers have begun implementing these services on a large scale to keep workers, and themselves, accountable and on schedule. Two-tiered time clock systems, using facial detection or recognition, capture photos and prompt employees to enter a custom code to eliminate the age old issue of “buddy punching.” The solution is simple, safe and secure, not to mention an affordable option compared to traditional and outdated time clocks.
The tech world is buzzing about home automation, so why not business automation? Buddy punching is not the only way employees could be stealing right in front of you. Human error leaves too wide of a margin for miscalculation when calculating payroll reports. For chain stores and franchises in particular, managing a large network of employees across locations and districts can become meticulous and time-consuming. Inaccurate, incomplete or (in extreme cases) dishonest payroll reporting can mean serious financial and legal consequences for a business. Upgrading to an administrative platform that can automatically send reminders, eliminate erroneous entries and organize critical information into a data-rich format eliminates second guessing so you can get back to running your business.
“The cloud” is a network of servers that each run a different application and perform a different function to deliver a specific service. Moving to the cloud, like moving to biometrics, is a faster, cost-efficient alternative to managing all of the moving parts and people in your business. Like automation, the cloud can prove to be a reliable fail-safe against mistakes – both human and technological. Biometric and automated time clock services that utilize the cloud to sync data and store lost information can save time and money in the long run. Some services even continue to sync with the cloud while your servers are down so that it’s business as usual when the technology is restored.
The technology you integrate into your chain store operations is one of the most important decisions you can make for your business. Whether you are in the store planning phase, or are looking for new ways to manage your employees, biometric, automated and cloud-based solutions are at the forefront of today’s chain store solutions. Time theft decreases, productivity increases and you can get back to what matters most: growing your business and serving the customer.