One of the key functions and applications of biometric devices is that it helps prove that the individuals actually are who they say they are. That means it is almost impossible to fool a biometric device of your identity.
One of the major applications of this characteristic is preventing time theft in large industries, factories and enterprises. Research says that the top ways that employees steal time include – fudging the time (recording inaccurate times), buddy punching, extended breaks and swipe card excuses (lost, not accepting, forgot, etc.). All of these can be dealt with by installing Invixium biometric devices and using the Reports module in IXM WEB. Research has also shown that companies lose millions ever year due to time theft conducted by employees.
Reports allows you to track the working hours of each and every employee at your premises with the help of our biometric devices. Since the fingerprint cannot be lost, stolen, left at home or “faulty”, the excuses stop there.
All you need to do is purchase Reports from IXM WEB and it will start generating reports and track your employees at the click of a button.
Reports comes integrated as a part of IXM WEB giving you the centralized control that Invixium promises.
Reports works with Invixium biometric devices to prevent buddy punching.
No Time Theft
Has proven to save costs and improve workforce productivity by eliminating multiple forms of time thefts.
Improved monitoring, control and tracking of employees. Reduced overpayment to employees.
Reports is a basic T&A software for basic use. Why pay extra when you use only the basic?
|Number of employees||500||500|
|Total time theft per employee per day (5 minutes when clocking in and 5 minutes when clocking out)||10 minutes||10 minutes|
|Average time theft for 50 employees per day (10% employees)||500 minutes = 8.3 hours = 1 man day||500 minutes = 8.3 hours = 1 man day|
|Cumulative Productivity lost annually (225 working days)||225 man days||225 man days|
|Average productivity costs||$35/hour* = $280/day||$100/hour* = $800/day|
|Costs due to lost productivity per year to time theft||$63,000||$180,000|
|Cost of IXM Reports Module||$499||$499|