Eliminate Buddy Punching and Time Theft

Survey estimates that organizations around the world losses 5% of its revenue due to frauds each year, which involves company overpaying employees due to time sheet errors and Buddy Punching. While most of the employees can be honest, but there are some whom you want to keep your eye on. So organizations need to stay one step ahead of the deception.  

There are many ways in which employee theft may take place in the workplace but fraudulent clocking in where employees receive payment for hours they don’t work - is one area believed to be on the increase.

Employees inappropriately entering time and labour data for each other or filing for too much overtime are problems that plague many organizations but the financial ramifications are difficult to determine and are often undermined.  It is difficult to prove and allows offending employees to go unpunished and repeat their offence, equating to thousands of rupees in unused labour costs. 

So, it is important for businesses to keep on top of employment fraud that could be occurring within their organizations. A wide array of sophisticated, affordable time and attendance systems can help you minimize and even prevent fraud before it happens. These systems can register employees’ attendance and stop any unauthorized practices, such as staff claiming too much overtime, from happening. Unlike badges, sign-ins or other ways of monitoring staff, a biometric attendance device ensures no employee can punch in for one another, thus eliminating time fraud and reducing payroll costs.

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