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.

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.