Regardless of industry, running a small to medium business (SMB) is an extremely time-consuming endeavor. Leaders must continually divide their energy between overseeing operations and growing the enterprise. As such, it’s a good idea to automate repetitive but necessary tasks like attendance management. Unfortunately, many emerging firms don’t have the resources to pay for an expensive human capital management (HCM) program.
Luckily, the digitization of the global marketplace gives SMBs access to innovative and affordable automated solutions. As an example, South Korean startup Albam offers robust HCM solutions at very reasonable rates.
A Mobile Timecard Solution
Albam’s core product is its mobile timecard application. Available on Android and iOS, the app allows users to clock in and clock out from their phones. As soon as a timecard punch happens, a digital record is uploaded to the cloud. Additionally, the program allows employees to see the work schedules and make time off requests as needed.
As a result, managers can examine their payroll anywhere right from their smartphones. In addition to attendance records, the app also offers administrators’ tardiness and early clock out notifications.
The startup’s HCM service also includes an innovative solution for the problem of “buddy punching.” A form of timecard fraud, buddy punching refers to the practice of one staffer clocking in for an absent colleague. Albam’s service comes with a free sensor that works in tandem with its mobile app. The device allows users to set up Wi-Fi geofences to ensure that workers are on-site when they punch in.
Most SMBs have tight profit margins and constrained capital no matter their business sector. Consequently, they can’t afford to contribute to the $373 million U.S. employers lose to buddy punching every year.
Being a cloud-based HCM solution, Albam empowers founders to accurately track their employee time and attendance without the expense of dedicated timecard equipment or the inconvenience of paper record-keeping. Even better, the company offers one site employers with less than 20 workers basic time and attendance service for free.
Affordable and Robust HCM
Albam also offers more robust HCM support for a nominal monthly fee. With its Time & Attendance Plus service, administrators can track employee timecard punch at a host of different locations right from the app. The service also gives customers the ability to access and export data via desktop. As such, it allows human resources managers to quickly transfer attendance data to a payroll program via Excel spreadsheet.
While Albam’s Time & Attendance Plus service gives users a great deal of functionality, it isn’t expensive. SMBs pay only $20 per worksite and $3.50 per employee every month to automate their attendance tracking.
Because its products are both multifaceted and affordable, Albam has achieved remarkable success in its five-year existence. Its service is now available in 12 countries and is used by more than 51,000 workplaces.
Furthermore, the startup is working at expanding its services. Soon, its clients will be able to automatically calculate employee tax, benefit, and paid time off data from their smartphones. Additionally, the service’s forthcoming Payroll Automator will provide customers with labor cost forecasts.