{"id":4658,"date":"2022-05-25T09:23:30","date_gmt":"2022-05-25T09:23:30","guid":{"rendered":"https:\/\/zaratechs.com\/?p=4658"},"modified":"2022-05-25T09:23:30","modified_gmt":"2022-05-25T09:23:30","slug":"time-and-attendance-software-market-driven-by-technological-developments","status":"publish","type":"post","link":"https:\/\/zaratechs.com\/time-and-attendance-software-market-driven-by-technological-developments\/","title":{"rendered":"Time and Attendance Software Market Driven by Technological Developments"},"content":{"rendered":"\n
According to the latest report by IMARC Group, the global time and attendance software market reached a value of US$ 2.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.16 Billion<\/strong><\/a> by 2027, exhibiting at a CAGR of 8.50% during 2022-2027.<\/p>\n\n\n\n Time and attendance software refers to an application that keeps track of the employee hours in their workplace and helps the HR department maintain a systematic record of payroll and leaves of employees. It reduces mistakes in the process of bookkeeping and breaks down processes and events into charts, graphs and tables. It also produces, retains and archives necessary tax information and aids organizations boost their cash flow. It provides employees a concentrated place to view schedules, make requests and be informed of the changes in the company policies. Moreover, it helps increase employee trust in the business as this application provides fully audited, exact and transparent data.<\/p>\n\n\n\n One of the key factors driving the market is the rising need to observe the efficiency and productivity of the employees. Additionally, the increasing use of automation tools in human resource management (HRM) systems and the extensive advantages and features of this application are contributing to the market growth. Besides, technological advancements in the software enable organizations to make automated workflows and create custom policies for the company.<\/p>\n\n\n\nGlobal Time and Attendance Software Industry Trends and Drivers:<\/strong><\/h2>\n\n\n\n