Why Every Entrepreneur Needs to Be a Time Clock Wizard Having the right tools to monitor your teams' attendance will increase productivity.

If you're an entrepreneur setting up or running a company, it's important you have the right tools in place to monitor your teams' attendance while also increasing its productivity.

Here are six reasons every entrepreneur needs to be a Time Clock Wizard:

1. Increasing speed and accuracy

In the past, employees would manually log their attendance. Aside from taking up a small chunk of their workday, this method isn't 100 percent accurate. By implementing an attendance monitoring system, employees won't have to dedicate any time into clocking in for work.

You'll also have a more accurate view of their overall attendance, thus allowing you to see if they're sticking to the hours outlined in their work contracts.

Related: 21 Free Tools Your Small Business Should Be Using Today

2. Enhancing punctuality within your business

The right time management tool will automatically logs attendance, employees are more likely to arrive at work on time. As a result, the system will naturally increase punctuality in your office. This means teams will have more time to focus on their projects and you'll spend less time chasing them for updates. This leads me to my next point...

3. Tracking projects

A built-in Task Management System which allows you and your teams to stay on track and accomplish your individual goals is crucially important. From this system, you can assign individual or group tasks. You can even create due dates to make sure that your projects stay on schedule.

Moreover, your individual team members can add notes and comments to tasks you assign to them. They can also upload files and communicate with other people working on the project. Better yet, you'll get a full overview of tasks, including how much time is spent on each one.

Related: Seven Of The Best Project Management Tools For Your Business

4. Increasing security

If you want to run a successful business, you must ensure that you comply with all your local and national laws. With this in mind, you have to implement the most advanced security measures for complete peace of mind. Luckily, with TCW, you'll benefit from enterprise-class security. The system allows you to:

• Set user-specific passwords
• Enable two-factor authentication
• Turn on photo capture
• Integrate an employee directory

You'll also have full control over each user's access, meaning you can provide low-level access to only the tools and information that individual team members actually need. Offsite data protection is important so you can enforce your company's policies while also preventing unauthorized access to confidential reports and controls.

Related: 8 Great Time-Tracking Apps for Freelancers

5. Keeping employees accountable

One of the main reasons you need to be a time management system is so that you no longer have to micromanage your teams. The key to strong company culture is allowing employees to be accountable for their own work and hours. It'll be their individual responsibilities to arrive at work on time. The best part is, you can keep track of this without lingering over their shoulder. Instead, the system will send you mobile manager notifications that give you a full overview of each employee's attendance.

In addition to the above, an attendance monitoring system promotes transparency within your organization. In other words, you know when they clock in and out, and they know that you can view their attendance.

6. Cutting costs

If you're just starting out, you probably think that you have to hire a dedicated team to manage your payroll. The best available systems help you to generate PTO and payroll reports which allow you to:

• Verify payments
• Include over time
• Give bonuses
• Offer reimbursements

Not only this, you can receive employee contract reports which allow you to view and edit your team members' personal information such as their phone number, address and more. An attendance monitoring system like Time Clock Wizard (TCW) is the perfect solution if you're growing your company and need to keep track of multiple employees.