Biometric technology is increasingly being deployed in diverse industries from manufacturing, logistics and hospitality to construction, banking and retail. Biometrics is the preferred technology for implementing various solutions to manage different aspects of the business; however, employee time and attendance systems remain at the forefront of biometrics innovations.
Companies today no longer use fossilised, time-consuming and error-prone employee time and attendance systems such as punch cards, having evolved into workplaces that use smart technologies to maintain their competitive advantages.
A recently released Frost & Sullivan report underscores the fact that fingerprint recognition looks set to remain the leading biometric technology for at least the immediate future. Biometrics technology, according to the report, will continue to thrive due to its accuracy, and iris recognition and multimodal capabilities.
A Markets and Markets report published last month echoed this trend, estimating the multi-factor authentication market (consisting of tokens, passwords, PINs, and biometrics) is poised to reach a staggering USD 10.75 billion in the next six years.
Through a strategic partnership with industry leader Lumidigm, Mitrefinch Australia has eliminated the need for passwords or swipe cards in their biometric devices. Employees simply place a finger on the biometric sensor and time and attendance data is recorded. Employees can be easily enrolled at the biometric terminal rather than having to produce ID cards or issue proximity fobs, which can be particularly time consuming for organisations with a high number of casuals.