Let’s imagine a scenario – A warehouse in Ontario with 1000 employees who work for 40 hours a week now will get an increase in the minimum wage from $15.50 to $16.55 CAD per hour. This increase of $1.05 CAD will cost the company about 2 million per year without considering the overtime costs. Add to these cases of time theft, buddy punching, unauthorized overtime, and payroll errors. This will exert financial pressure on businesses, especially the ones operating on tight profit margins.

Enter advanced biometrics – Biometric solutions like face recognition or fingerprint when integrated into workforce management systems can facilitate streamlined operations, improve accountability, and enhance overall productivity. Antiquated time and attendance clock systems, logbooks, punch card machines, and daily timesheets are swiftly becoming a thing of the past. This departure from manual, paper-based methods offer a myriad of benefits heralding a new era of productivity for businesses of all sizes. The benefits of biometrics have a direct impact on payroll management, reducing the risk of overpayments and saving organizations significant resources.

Allow us to introduce you to some of the ways in which biometric solutions can revolutionize the way you manage your day-to-day workplace operations fostering efficiency and accountability.

Accurate Time and Attendance Tracking: Biometrics ensures precise tracking of employee hours eliminating proxy attendance, unauthorized overtime, and intentional and unintentional time theft. With advanced modalities like face recognition and fingerprint, chances of buddy punching are also eliminated. By paying for the actual work hours of the employee, businesses can reduce labor costs, thus making time and attendance tracking essential to cost management.

Reduced Administrative Burdens: Integration of biometric solutions with HR management systems can substantially reduce the administrative burden and minimize human errors associated with manual data entry. Such integrations can handle various aspects of employee management, reduce payroll discrepancies, boost employee trust, and prevent conflicts arising from incorrect wage calculations.

Immediate ROI and Long-term Cost Savings: Let’s consider another scenario: A warehouse in Ontario with 200 employees who work for 250 working days a year now get an increased wage of $16.55 CAD per employee per hour. Assuming the daily lost time of 1 hour per employee, for a company with 200 employees this adds up to a significant preventable loss of $830,000 CAD annually. However, by implementing advanced biometric solutions, keeping in mind their initial investment (amortized over 3 years), and assuming 10% of the workforce clock inaccurately, this annual loss can be transformed into year-over-year savings of over $740,000+ CAD. This clearly demonstrates the long-term benefits and cost-efficiency these technologies can bring to businesses.

Touchless Technology: Embracing touchless technology is crucial in our current times as it promotes health and safety by reducing the use of frequently touched surfaces. Advanced biometric systems utilize face recognition, iris scanning, or mobile credentials to prevent the spread of diseases and in turn, enhance productivity and maximize employee uptime.

Scalability and Adaptability: As your site grows, expands, and diversifies, biometric solutions will seamlessly incorporate any changes without causing disruptions or requiring extensive reconfiguration. It will easily accommodate new employees and enroll them into the system ensuring that your security system remains up to date.

Real-time Monitoring: Advanced biometric systems can provide real-time monitoring via intuitive dashboards, email notifications, and SMS text messages. This enables management to track employee movement within the premises, helping identify patterns and optimize resource allocation during peak hours.

Today’s evolving economic context requires effective and efficient solutions that combine security and operational efficiency, placing biometrics firmly in the spotlight. Now more than ever, it is crucial for organizations to invest in biometric solutions to mitigate the financial impact of minimum wage hikes while ensuring productivity, security, and efficiency. With capabilities like efficient workforce management, accurate time and attendance tracking, and optimized resource allocation, biometric solutions contribute to a cost-effective operational framework.

For more information about our cutting-edge solutions, contact our team today.
sales@invixium.com

The post Leveraging Biometrics to Mitigate the Impact of Minimum Wage Increases on Businesses appeared first on Invixium.

IXM TITAN was launched boldly in 2018, and proclaimed to be “The Most Advanced Biometric Product Ever Engineered”. The product made an instant impact, sending shock-waves across the industry and winning the hearts of distributors, installers and customers for its elegant design, rugged construction and revolutionary features. The market introduction of a product with such aggressive technical specifications and a premium price point made it seem almost too good to be true. Everyone wanted to know more about the TITAN but only a few believed in its prowess.

We had to somehow show the world what TITAN is capable of and that it could live up to the expectations.

Based on a request for a PoC (Proof of Concept) from a potential customer, we scoured for an ideal locale and discovered the perfect spot in an Indian metro city. TITANs were installed at a live construction site where traditional biometric products have failed to work consistently. Mounted on portable stainless-steel stands, the TITANs were used for authentication and time tracking of all the workers at the site, every morning and evening. The testing was done over a period of 4 weeks for performance reporting of various features such as face recognition in bright sunlight as well as total darkness, liveness detection, data transfer over 4G cellular connectivity, throughput speed, battery performance, water and impact testing, fingerprint authentication with poor fingers and more. All workers enrolled their face as well as their fingerprints. Fast data transfer was achieved via 4G cellular connectivity to a laptop where IXM WEB was installed. The administrator was able to remotely monitor the attendance without having to be present at the site. This allowed for time and attendance reporting straight from IXM WEB for payroll management of the workers.

The building management was fascinated by the simplicity of the solution and could already see the ROI over the long term. In addition to the costs saved by preventing time theft, IXM TITAN also boosts efficiency because of the high throughput rate of more than 15 people per minute. This reduces the long queues at the beginning and end of every shift, saving time and thus money for the organisation as well as the workers. See below for expected ROI in 1 year when using Invixium Time Tracking Solutions:

Based on the initial results of the PoC, TITAN delivered exemplary results in a real life deployment scenario. Since the release of the video in early January, the demand of TITAN has skyrocketed!

Invixium solutions are designed to be the best-in-class and deliver extended value through improved efficiency and enhanced productivity. Some of the clear advantages include:

• Improved safety due to biometrics – no time theft and buddy punching; audit trail and traceability; muster reports during emergencies and disasters
• Enhanced productivity and workforce management for companies
• Reduced waste – low paper consumption; eliminates plastic cards, keys, fobs, etc.
• Lower costs – reduced insurance costs, ROI in first year
• Social sustainability – precise payroll management, fast moving queues

If you are a distributor, installer or customer interested in purchasing the Invixium solutions, please reach out to us at sales@invixium.com or experience@invixium.com and we will be happy to assist. If you would like to get a demo of the product, visit us at the ISC West Expo in Las Vegas from April 10-12, 2019. Get your free passes here.

For all other details, visit:
invixium.com

The post IXM TITAN at a Live Construction Site: The Story Behind the Video appeared first on Invixium.