TraceSafe Launches Wearable-based Time And Attendance Pilot Program For $2.1 Billion USD Market
March 10, 2021: Vancouver, BC – Tracesafe Inc. (“TraceSafe”) (CSE: TSF), a global leader in wearable safety tech and connected workforce solutions, including large-scale enterprise, venue management and asset tracking, is proud to announce the launch of its next phase of interconnected workplace automation solutions for hospitals and medical centers.
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).
TraceSafe 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 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.
"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. "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."
In 2020, the market for time and attendance systems was valued at 2.1 billion USD, and is expected to reach 3.7 billion USD 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. 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technology allows staff to focus on their work, instead of remembering to manually log their hours and presence using outdated desktop and mobile apps or key card tap-ins.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 is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management. TraceSafe's leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe'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 their government work, TraceSafe is developing leading edge solutions for Enterprise, Healthcare, Education, Government and large-scale venue management.
Statements in this news release may contain forward-looking statements that are based on TraceSafe’sexpectations, estimates and projections regarding its business and the economic environment in which itoperates, including with respect to expectations regarding the TraceSafe assets and their application,future business plans and relationships, future developments in respect of COVID-19 and solutions adoptedin response to the virus, and the deployment and acceptance of the TraceSafe technology. AlthoughTraceSafe believes the expectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of future performance and involve risks anduncertainties that are difficult to control or predict, including the suitability of our products to helpbusinesses and governments reopen, competition, the spread or containment of COVID-19 andgovernment responses thereto and general economic and market conditions. Therefore, outcomes andresults may differ materially from those expressed in these forward-looking statements and readers shouldnot place undue reliance on such statements. These forward-looking statements speak only as of the dateon which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect newinformation or the occurrence of future events or circumstances unless otherwise required to do so by law.
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