Time is money in every industry, but the correlation is even more significant in the HR technology sector that develops timeclocks and payroll services, according to Workforce. However, a slew of innovations have emerged that are transitioning the industry away from simple time keeping systems, and toward technology that can help companies save money and better manage their employees.

One of which is the biometric timeclock, the news source reports, which verify workers identities by hand-print, finger print of vein scan. They eliminate buddy punching, the practice of one employee punching another in before or after a scheduled shift.

There are also new mobile time-keeping applications that make it easy to account for employee attendance when an employee is working remotely or traveling to and from a job site. Employers who fail to account for necessary travel time can sometimes be found in violation of the Fair Labor Standards Act and forced to pay penalties and back wages.

Lastly, Workforce points out the new scheduling systems that can catch an employee's overtime before it becomes a problem and can help manage staff levels based on the business' demands.

Employers can use the advanced services to improve their payroll budgeting, but also to provide their employees with the best possible work environment. 

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