January 29, 2014 -
MinuteHound is set to launch its latest biometric clock software next month, in February 2014.
According to the company, the system uses a combination of cloud storage, fingerprint scanners and data quantification. A pretty straightforward system, MinuteHound’s new system logs users in with a fingerprint scanner and uses 128-bit encryption to secure data. MinuteHound says the new update is intended to meet the growing needs of businesses in 2014.
According to a report published by Acuity Market Intelligence for ADP, time fraud accounts for approximately $148 billion in losses for businesses each year, stemming from outdated and error-prine time-keeping systems.
Workforce management systems, like the MinuteHound solution are being implemented widely across sectors internationally, though these systems are often met with resistance, and in some cases, these systems have proven themselves to be vulnerable to spoofing or buddy-punching.
Spoofing attacks are a major concern for the biometrics community and preventing buddy punching is a core focus of workforce management systems. In March 2013, a Brazilian doctor was famously charged with fraud after she was caught using silicone fingers to clock absent co-workers in to work.