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In the current economic climate there is no bigger challenge than running a successful business. Companies that want to survive and grow need to become wiser, faster and more efficient in the way they operate.
Learn how much time and money a good t&a system could save you!
1. OVERPAYMENT
If employees know their attendance is being monitored, overall attendance will generally improve.
It is possible that employees may be overpaid by up to 30 minutes per day due to lateness, early leaving, long lunch breaks etc.
A good time and attendance system will reduce overpayment.
For salaried employees, a saving will still be seen when employees stay longer at work then their standard hours.
If we assume a conservative 1% increase in attendance, a company with 120 full-time employees (working 40h per week) could make the following savings:
2. HUMAN ERROR
With a non-computerised system, there is a potential for human error at each stage of the payroll process. Companies using a manual system are likely to be experiencing an error rate between 1 and 5%. If we assume a time and attendance system can reduce this by a conservative 0.5%, then the following savings could be made each week.
SAVINGS PER YEAR: £16011.84
3. ADMINISTRATION COSTS
On average it is estimated to take up to 7 minutes for managers to manually calculate and edit each time sheet, and a further 2 minutes to manually enter data from each time sheet into a payroll application. A good time and attendance system eliminates the need for this to be performed.
If we assume a conservative 5 minutes per time sheet for the calculation and data entry process, then the following savings could be made each week.
Based on these figures, our system could save £1,052.06 each week for the featured company. This equates to an estimated capital recovery of £54,707.12 per year!
T&A system will not only reduce your costs and save time, but also increase employee productivity, gain greater control over your spending and tackle employees absence effectively.
Check how much your company could save by using our ROI calculator.
To learn ore on how to choose our time and attendance system click here for our step by step guide.
Cut labour cost - by reducing absenteeism, monitoring efficiency and increasing punctuality
Eliminate time theft with fail safe biometric time and attendance data collection
Monitor compliance with Workplace Agreements, Pay Rates and Awards
Improve forecasting by department workload, resources and budget also run ‘what if’ scenarios and update future changes immediately
Facilitate remote working with flexible clocking on options - by internet, mobile phone, PDA or XDA, intranet, PC, biometrics terminal, proximity fob, or swipecard technologies
Better Absence Management by recording absences and building absence profiles with multiple viewing selections, by department, group or absence occurrence
Generate real-time Management Reports with an easy to use reporting and graphic module, including standard reports such as The Bradford Factor
Ongoing Support from a dedicated team of support technicians who always go the extra mile to get you back on track
A flexible range of maintenance options will give you complete peace of mind at a price you
can afford
Fixed-time, flexi-time and annualised hours for full or part-time employees. Supports most shift patterns and flexible working schemes
A range of "Clock On" options: by Internet, mobile phone or PDA, Intranet, PC, or at specified swipe card, proximity sensor or biometric terminals
Define working rules, work patterns and shifts where different production cycles and rotas apply
Health and Safety: Automatic on-site roll-call printouts in case of fire or emergency evacuation
Diary facility option automatically populates Microsoft® Outlook® task manager – you can use it, for example, to book line managers in for meetings with employees who are more than 20 minutes late
Identify work time-rule violations and anomalies which can be emailed or represented as a diagram or graph
Absence Recording: build a yearly absence profile with multiple viewing selections i.e. by employee, department, group or absence occurrence
Future Work Planner: current and projected manpower planner enables managers to act or plan according to workload, resources and/or budget
Point-in-time facility allows you to update future changes immediately, and to run "what if" scenarios
Facilitates speed and accuracy of payroll by ensuring accurate, automatic capture and transfer of attendance data to your payroll system
Multi currency
Reports can be emailed as PDF files or exported as ASCII or CSV files into other applications
Dashboard
Absence Profile
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