Preventing Buddy Punching & Time Theft with GPS Geofenced Timesheets
How modern cloud time-tracking with IP restrictions and GPS verification protects small business payroll from up to 5% revenue loss.
Table of Contents
1. The Hidden Cost of Buddy Punching
According to the American Payroll Association, buddy punching and deliberate time theft affect over 75% of businesses utilizing manual punch cards or shared spreadsheets, costing companies an average of 2.2% to 5% of their gross annual payroll.
Even subtle rounding padding—such as clocking in 15 minutes early and clocking out 15 minutes late without performing work—rapidly accumulates into thousands of dollars in unearned compensation per employee each year.
- IP Range Restrictions: Restricting clock-in actions exclusively to authorized corporate network IPs or VPN connections.
- GPS Geofencing: Verifying that employees are physically on-site within a configured radius before allowing clock-in.
- Individual Device Binding: Ensuring employees log hours through authenticated personal accounts with multi-factor authentication (MFA).
Protect Your Business from Time Theft
Wokaim provides authenticated 1-click clock-ins, IP security, and tamper-proof audit trails to ensure 100% verified attendance.
Frequently Asked Questions
What is GPS geofencing in timesheet software?
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