Throughout history, humans have had a fascination with keeping accurate time. Ancient Egyptians were the first people to measure time by using obelisks as older versions of sundials. During the 14th century, mechanical clocks rose to prominence throughout Europe. Currently, there are many items people can use to tell time. However, many companies prefer to utilize what’s known as network time protocol or NTP. Network Time Protocol was created before 1985 and still remains one of the oldest protocols still being used today. It’s understandable to wonder what makes accurate timekeeping so important in the workplace. Considering that, here are three reasons why time synchronization matters for your company.
- Utilizing Accurate Timesheets
Many companies utilize a timesheet system for their employees. In turn, a company knows how much money to give employees during each pay period. If your company doesn’t have an accurate way of keeping time, it’s could create major problems. Research shows that the United States economy loses an estimated total of $7.4 billion each day due to timesheets that are filled out incorrectly. If you want to avoid payment errors, it’s wise to utilize NTP time clocks that are properly synchronized.
- Ensuring Financial Documentation Remains Compliant
It’s also important for companies to create a wide range of financial documents. Considering that, you’ll want to utilize accurate network clocks while creating this type of information. Accurate timestamps help ensure that your company avoids making costly mistakes while preparing all types of financial reports.
- Creating Accurate Bills and Invoices
Time synchronization is imperative while preparing bills and invoices. These documents need to have accurate timestamps to avoid confusing your customers and business partners. If not, these bills could be disputed by others which only causes problems for your company. By using accurate network clocks, your company ensures that billing information is accurate. In turn, this helps you avoid dealing with billing discrepancies.
In conclusion, there are several important reasons why time synchronization is so important. If you want your company to continue accurately tracking time, it’s wise to consider utilizing NTP. Many companies find that implementing NTP digital wall clocks helps keep everyone aware of the time. There is a wide range of NTP clocks available to help your company achieve this important objective.