Timesheet fraud is a common cause of financial loss for employers with payroll fraud accounting for up to 20% of all fraud suffered by organizations. It negatively impacts project management and resource planning, while employees recording more hours than worked is hard to detect and manage.
With traditional punch clocks, employees can punch in for their colleagues if they are running late and with more advanced technologies employees can opt-out of using biometric scanners due to privacy laws.
The VeriDoc HR solution prevents anyone from illegally changing the hours.
Employees use their personal mobile device with two-factor authentication (2FA) to clock in and clock out, so that colleagues can’t clock in on their behalf. Time and location stamps on the blockchain are immutable, providing a trustworthy audit trail if timesheet records need to be inspected.
VeriDoc Global has a finished patented blockchain solution that eliminates document fraud and counterfeits. By using a mobile device, anyone can simply scan a VeriDoc Global secured QR code and verify within seconds whether something is genuine or fake.
When it comes down to it, as an employee you just want to be paid on time, what you are owed. And as an employer, you want to be able to pay for time worked with the knowledge that it's been done without fraud.
Employers save time and money lost each year due to timesheet fraud and employees have an easy and quick method of clocking on to their timesheets and seeing a record of all their hours worked. Transparency on both side.
The VeriDoc timesheet solution prevents anyone from illegally changing the hours.
You're able to test it out and scan the QR codes yourself on your smartphone to see the technology working
Don’t have a QR code reader to find out? Download the VeriDoc Global QR code reader here for free:
Timesheet fraud is a common cause of financial loss for employers with payroll fraud accounting for up to 20% of all fraud suffered by organizations.
VeriDoc Global has developed a patented blockchain solution that involves embedding a QR code on a timesheet with a unique digital hash inside the QR code. The hash holds a string of information that is then placed on the blockchain network for security, verification and most important end user validation.
Using a QR code reading app, employers can scan the QR code on the timesheet once it has been submitted to them to verify the authenticity of timesheets.
Using any QR code reading app, scan the QR code on the timesheet and the app will show you the true document produced by the issuer. This allows you to compare and see if the timesheet is an original or a fake.