TraceSafe Inc. (CSE:TSF) has announced the launch of its next phase of interconnected workplace automation solutions for hospitals and medical centers.
The company, a global leader in wearable safety tech and connected workforce solutions, including large-scale enterprise, venue management and asset tracking, has long specialized in creating connected solutions for complex work environments, including medical settings.
Following the success of its infant tracking and Patient Path solutions, TraceSafe said it now offers a connected ecosystem, solving a multitude of problems for both patients and staff. TraceSafe's newest service for time and attendance is currently in use as part of a POC with a medical center in Ontario, Canada.
READ: TraceSafe says its platform has reached a milestone of 15 million daily contacts
TraceSafe's system intelligently monitors arrival and departure of staff, whose pay rates vary according to complex type- and location-based tasks, and records their hours and activity for payroll. Administrators can access the control center for full oversight, get an instant data export, and seamlessly integrate data into existing human resource information systems (HRIS).
"As our platform evolves to offer ever-expanding industry-specific services, we're focused on innovating our technology to capture and process data that helps drive business decisions in new markets. Our time and attendance pilot program is just another step towards the 'future of work,'" said TraceSafe CEO Wayne Lloyd in a statement.
"We're excited to watch the next phase of TraceSafe's solutions that make the lives of medical and support staff easier. It's a no-brainer," he added.
In 2020, the market for time and attendance systems was valued at US$2.1 billion and is expected to reach US$3.7 billion by the end of 2026, growing at a compound annual growth rate of 8.5% during 2021-2026. Integrating time and attendance software has been proven to reduce errors, save time, and give employees oversight and access to their schedules.
The company noted that time and attendance systems are critical for tracking how long employees work every day, and are often selected based on their cost, ease of use, integration options and valuable features. Wearable technology allows staff to focus on their work, instead of remembering to manually log their hours and presence using outdated desktop and mobile apps or key card tap-ins. Automating activities like time and attendance is the first step towards a connected worker ecosystem.
TraceSafe offers a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management. Its leading cloud management solution ensures both user privacy and comprehensive administrative control.
The company's patented contact tracing bracelet has already been deployed in mission-critical quarantine applications around the world in partnership with leading governments. In addition to its government work, TraceSafe is developing leading-edge solutions for Enterprise, Healthcare, Education, Government and large-scale venue management.
Contact the author at jon.hopkins@proactiveinvestors.com