Time (keeping) equals money.
Labor costs are most likely your company’s biggest expense. According to the American Payroll Association, automated timekeeping is one area that helps a company reduce those costs by eliminating up to 80% of payroll preparation time.
Gone are the days of manual timecards, tracking employee hours in individual employee spreadsheets, and having to deal with paper time off request forms.
The Payroll Company has your solution, with a variety of integrated, automated timekeeping solutions. Whether you use a clock and swipe cards or have your employee’s clock in from their computer or smartphone, our timekeeping solutions offer a timely way to trim your labor costs.
With the passing of the Affordable Care Act, tracking accurate time for your employees in an easily reportable format is more important than ever.
Best of all – Time is native to iSolved. Employee information is housed in one single database. No duplicate entry of employee data required!
Using a time & attendance solution can streamline your operation in a number of ways.
- Reduce overpayment of long breaks, early departures and late arrivals
- Streamline time, attendance and payroll processing
- Properly apply company policies to time transactions
- Objectively enforce policies for entire work force
- Focus on your core competencies
- And these are just a few!
Compare the different processes involved with Manual versus Automated Timekeeping.
- Is your company taking the time to handle, approve and total each employee’s time card or can it be done in a matter of seconds?
- Do your employees write down their punch times, giving their best approximation for in and out times, or does your system track the very minute your employees clock in and out?
- Is your company vulnerable to human error when calculating one of your greatest expenses – labor costs – or is your system instant, error-free and automated?
- Could you significantly reduce your cost of labor?
Three ways manual timekeeping drives up costs
- Human Error: The rate of human error in time card preparation and totaling is estimated to be between 1% and 8%. Therefore, a conservative 2% error rate on a $12,000 payroll would equal $240 in erroneous wages.
- Wasted Labor Minutes: Did you know that just 15 employees receiving pay for merely 4 minutes of “wasted” time per day [untracked breaks, extended lunches, over-approximated punch times, etc.] will total 1380 minutes [23 hours] of additional pay per month?
- Manual Time Card Calculations: The average payroll administrator processing paper timecards spends 7 minutes per time card each pay period. For a company with 50 employees, that equals almost 6 hours per pay period totaling up hours.
Whether you operate in a professional setting, manufacturing facility, or have employees working at various worksites with multiple pay rates, we have a solution that will work for you.
- Traditional time clocks (PIN entry, swipe card, HID badge, proximity card, or biometric)
- Web punching from their workstation or entry of hours
- Mobile Time
Our sales team will meet with you to determine your needs and recommend one of our many options today! Contact our office today to setup your meeting today!