Tackling Risk Management

Workforce management continues to grow more complex as time marches onward. As technology increases the scope of what comprises a workforce, the risks faced by companies increase as well. These risks are areas in which the companies are susceptible to experiencing losses. Three of the most exposed areas for risk are payroll, records, and safety.

Payroll
In the wake of expansion, companies naturally grow in personnel. An increase in personnel, however, exposes businesses to the trappings of inaccurate wage dispensation. Maintaining accurate timekeeping records across a larger business becomes increasingly difficult. Managers often rely on an “honor system” with employees reporting when they worked, with little-to-no means of verifying the employee’s records.

Records
As a business grows, the demand for recording data grows as well. A Canvas Marketing survey found that the average annual cost of paper was $80 per employee. The survey also found that the standard five-drawer filing cabinet comes with the annual price tag of $2,182.62 and 70% of businesses would fail within a three-week period if all of their paper files were lost in an accident.

Safety
With more personnel added to the workforce, companies can experience an increase in hazardous incidents. Limited awareness of employee whereabouts boosts the potential for increased damage and loss of life.

Actsoft provides several features that directly alleviate the burden felt by growing companies and their expanding workforce:

Timekeeping enables employees to clock into work from their mobile device, negating the time spent traveling to the office to clock-in then to their job order. Coupled with a GPS location stamp whenever time is recorded, timekeeping ensures employees are on site when they clock in. The records are electronic, reducing the opportunity for incorrectly recorded timesheets, and eliminating the need for paper copies.

Wireless Forms converts the recording of data into an electronic interface that can be accessed from a mobile device or tablet. The costs of purchasing and storing paper are immediately negated and the wireless forms can be immediately sent and stored in a virtual database, circumventing the threat posed by losing paper files.

GPS Tracking permits constant monitoring of worker locations, which is imperative in the event of an emergency. With near real-time information relayed, managers can coordinate their workforce through emergencies with increased efficiency. In the unfortunate event that an employee is unconscious, their device’s continuous transmitting of their location can help rescue services locate them more quickly and administer medical attention if necessary.

For greater insight into what Actsoft can do to help manage your company’s risk feel free to explore more of www.actsoft.com or click below to speak to us directly.

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