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Fleet Tracking Can Help Protect Your Construction Business Against Fraud
Posted on 03/07/2012 by Wyn Partington | 0 Comments
Many people believe trust is earned, not granted.
But, you may be surprised at the amount of trust you put in your employees right from the very start – especially when it comes to their pay.
And while most employees are honest, hard-working people there will always be a few bad apples in the system.
Some businesses are even finding that cutting paper checks can be an expensive lesson in how trusting they are. According to Construction Business Owner magazine, some companies have been seeing counterfeit versions of their checks ending up being cashed by busy banks. Original payroll checks are copied, doctored up and then cashed – leaving these companies with serious dents in their books.
The article suggests direct deposit as a means to fight fraud – it’s a low-cost solution offered by your bank that will have you writing fewer checks.
That’s definitely a lesson in working smarter, not harder.
But if you still have your employees fill out paper time cards, you’re also facing potential loss if your employees are padding their hours. With NexTraq, you can use our Start/Stop report and Begin/End Day report like a virtual time card to validate your employees’ hours.
And with NexTraq’s system, you can export hours worked into an Excel sheet, then transfer that data into your banking software.
It’s just one of the many ways that the NexTraq Fleet Tracking solution can help you save money. For more, visit our construction site at nextraq.com/construction.