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Isn't this basically a timesheet approval process with extra steps? Not knocking it because it clearly works for you, but we moved everything to a digital sign-off system last year and it's been great for us. Supervisors approve hours from their phone while on site. Easy peasy.
We have employees review and confirm hours. Managers review and approve. Then, payroll does final processing. Works because it goes through a few different sets of eyes, so not many issues.