Best Time and Attendance Software System Companies 2023

Current & Upcoming Trends

The time and attendance software market is forecast to grow to $5.3 million by 2030. It’s clear that TAA systems will remain popular. The following are notable trends you should consider before purchasing a new tool.

Access Control Applications

Integrations, such as access control applications, are very popular with time and attendance software users. Access control systems are applications that allow you to control who can access, or who cannot access, files within your company.

You can allow or disallow access to things such as staff records, time and attendance records, payroll systems and even the ability to access your buildings, if you use biometrics.

Artificial Intelligence

Like most other spheres, AI is impacting time tracking. It can gather and analyze employee data to assist with staffing, scheduling and other labor needs.

You can also take repetitive administrative tasks off managers’ backs by introducing automation.

AI automatically identifies eligible employees regarding availability, burnout and overtime.

With AI-enabled tools, employees can personalize their experience to present the most important information, see schedules, swap shifts and request time off from their phones, tablet or desktop.

Biometrics

In recent years, the acceleration of biometric technology has been an important factor in developing new ways to monitor a workforce. Biometric technology defines a person by who the individual is rather than by what the individual knows (such as passwords, PINs and more). In fact, the revenue of the biometrics market is expected to reach nearly $55 billion by 2027.

Buddy punching and time theft are usually tricky to manage. However, biometrics come to aid in ending buddy punching. Biometrics are a good option for their long-term benefits and greater ROI if you’re currently using a paper-based method and looking for technology to help you overcome these limitations.

These systems use algorithms to save a digital image to check the individual’s identification when clocking in or out.

Gig Economy Management

McKinsey states that freelance work is booming. The gig economy is changing the face of business as we know it.

Since gig workers do not have the same permanent employee rights, companies need to assist managers with obtaining the best possible results from gig workers while dealing with any problems.

Legislation and regulations govern the gig economy. However, the growth of this subset of workers is still going strong. Employers must be careful with how these regulations evolve to track working hours and pay freelancers accurately.