List of Terms – B
Biometrics is a technology that recognizes a specific feature on an individual to confirm the person’s identity. Starting with simple fingerprint identification, the technology has advanced and branched out to: Face recognition, hand/palm geometry reading, voice recognition, and retina scanning. It can provide an organization with a variety of workforce analytics including but not limited to determining pay amount, identifying late check in times, monitoring absences, etc.
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Buddy punching is when an employee punches the time clock on behalf of another employee, who is leaving early, arriving late, absent from work or not scheduled for work that day.
This is a time and attendance issue that allows employees to get paid for time in which they are not on the job, and is the basis for payroll fraud or time theft. Studies show that buddy punching can account for up to 5% of total payroll costs, which can costs companies thousands or even millions of lost dollars per year.
Business Intelligence (BI)
Business Intelligence (BI) is a field of information technology that uses a computerized system to analyze data accumulated in the organization. Business intelligence tools allow for improved understanding of business issues, identifying trends and detecting problematic points in order to make informed management decisions.
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