How does biometrics save money?
Biometric technology such as fingerprint verification improves employee attendance and payroll accuracy. A study published in the magazine of the American Payroll Association, called PayTech (Jan. 2002), concluded that: • Buddy-punching accounts for up to 5% of the total payroll • Overpayments caused by human error can range from 1% to 8% of total payroll costs Biometric technology saves money by eliminating buddy-punching, because the employee’s presence is absolutely essential in order for them to clock-in at work. Fingerprint technology also eliminates the need for time cards which can be manipulated, lost, stolen or damaged, and are costly to replace. In addition to the financial benefits, biometrics also provides several other benefits to businesses. Companies that use biometric technology have more secure environments: fingerprint verification allows employers to easily restrict access to each area of a facility by setting clearance levels for each employee, protecting assets fro
