Biometrics - Is this Useful for Businesses?

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You know that God has created every human with his or her unique biological identities which no technology can claim to modify. 

To accurately measure, collect, analyze, scan, and store unique biological characteristics of humans, businesses are taking full advantage of using biometrics technology which are extremely useful to measure, record, scan, and convert physiological and behavioral attributes of humans into accurate identifiable digital formats or patterns.

Thanks to the introduction of biometrics digital applications which are effectively used by businesses and institutions which help them in enhancing level of efficiency, mitigating operational risks and frauds, increasing productivity and efficiency.

The biometric technology tends to save precious time in managing attendance records, provides ease in cafeteria, and supports different departments like finance, human resources, production, marketing, and administrative departments. This technology minimizes risks, reduces incidents of frauds and thefts through digital biometric keys which tend to operate doors, rooms, lockers, computers, devices, and monitors 24/7 valuable business assets through continuous surveillance systems.

Biometric technology ensures efficient hassle-free transactions at all point of sales, hotels, restaurants, shopping malls, movie theatres, airline tickets, and online buying, so this list goes on. 

Projection

According to the study of Statista, the global digital identity solution market is expected to touch around US$ 71 billion by year 2027. The rapid market growth is driven by increasing instances of identity frauds and data breaches, and new government regulations.

Advantages for Businesses

Biometric technology helps businesses and institutions in the collection and storing permanent digital physiological and behavioral data of their employees which include facial recognition, fingerprints, palm geometry, iris identification, retina scanning, digital signature, vein detection, DNA matching, typing style, using mouse with finger movements, digital online activities, voice recognition, exclusive walking style, and other body gestures.

Biometric digital applications have replaced lots of assignments where huge amounts of time and human labor are needed to manually record and maintain data, so, those enterprises which effectively use biometric technology save valuable time, precious money, significant human resources, and more importantly, they are reducing cost of doing business which positively impacts on the level of their profitability and revenue streams.

After installation and implementation of biometric digital systems, companies and institutions are in a better position to minimize incidents of frauds, thefts, and operational risks which, as a good results, repose confidence among business partners, shareholders, investors, customers, so, all these things combining enhance brand image of companies on local and international scale.

Businesses and institutions invest substantial funds in installation of digital surveillance systems which help them in improving security at strategic points in office building and factory premises. Management of companies can easily monitor, detect, and magnify any unusual physical and behavioral activities of people to make instant informed decisions.

Digital Attendance

To facilitate in maintaining huge daily attendance records, companies and intuitions use digital biometric machines to verify digital impression of fingerprints or facial recognitions of employees at the time of check ins and check outs. The machines are installed at different positions in the office building and factory premises.

Biometric digital system provides companies important facility in generation of data of hundreds or thousands of employees which tends to help Finance Department in making salaries, adjustment for accruals, setting aside allocation for retirement funds, and making other payments.

Biometric generated data of employees helps Administration Department to make adjustment for fuel consumption and in making deduction for catering and other expenses.

Human Resource department (HRD) of companies and institutions becomes more efficient, productive in managing the records of hundreds or thousands of employees and HRD can also check recorded behavioral data points of every employee through biometric technology.

Biometric Built Security Protection

To operate computers, smartphones, and other digitally operated devices, it becomes difficult to remember multiple passwords, so, use of biometric digital keys ensure efficiency for executives and employees of companies and institutions, because by using password(s) every time they must attempt password insertion which often they can forget and there is a strong possibility that password may be decoded or thieved.

Image's Source:  Pixabay

To operate machines, doors, lockers, computers, laptops, devices, tablets, and smartphones through use of biometric digital technology ensures safety and, it protects theft of confidential data.

24/7 Biometric Based Accessibility

There are important rooms in every department of companies and institutions where theft of confidential data can cause reputational and financial losses, so, it becomes unavoidable to restrict entry of unauthorized people, where only authorized employees can go and access record and data.

Companies tend to ensure that all approved persons are provided biometric digital keys to open doors, operational systems, computers, digital operation systems, websites, devices, financial and other precious data using their unique physiological or behavioral digital identities, because these are extremely impossible to duplicate.

Reduction in Business Operating Costs

Those companies and institutions which invest considerable monetary budgets in installation and implementation of biometric digital operational systems effectively reduce in operating costs of doing business, achieve maximum efficiency and productivity, improve staff performance, reduce incidents of thefts, minimize operational risks, ensure continuous security in all electronic, mechanical, and digital devices, improve level of security and surveillance, because all operations of business are constantly monitored, recorded, stored, scanned, and supervised through the use of biometric technology.

Enterprises which effectively install and implement biometric systems in their setups tend to reduce in their operating costs which positively impacts on levels of profitability and revenue streams.

Fraud and Thefts Detections

Having installed biometric based surveillance environment, institutions and enterprises are in a better position to effectively manage and detect frauds and thefts cases which are dangerous in nature and can cause reputational damage and heavy financial losses for organization.

Reduced Cyber Threats

Companies experience low ratio of cyber security issues in their set ups due to effective installation and implementation of biometric digital authentications among staff members and they observe zero reliance on password-based authentication because it can easily be sniffed and thieved by hackers and unauthorized persons.

Improved Organizational Security

To ensure 24/7 monitoring, surveillance, and security, it becomes extremely inevitable for all small, medium, and big businesses to maintain foolproof security system in their organizational setups, so, the solution is to install biometric digital devices and applications at full scale.

Business conglomerates and multinational companies manage vast and complex operations which are spread all around the world in which huge volumes of daily data are generated and shared, so, it is essential for all big businesses to fully implement foolproof security systems in their organizational setups, and ensure that biometric digital systems are completely installed and implemented in their setups.

Personal Data Security

As every technology has some demerits, there are possibilities to face cyber-attacks or leakages in the biometric digital system, in case, if this may happen then all personal information and confidential data may be leaked out. It is extremely important for all companies to maintain 24/7 high alert and maintain security of their biometric digital assets on the high standards to protect them from thefts.

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