Home  > Products  > 

Calculate the Savings and ROI for Time and Attendance System
...from Carpenter's Time Systems




Acroprint Time and Attendance Systems

Acroprint Time and Attendance Systems



Acroprint Time and Attendance Systems Logo





Widmer Time Date Stamps

InfiniTime Time and Attendance Systems



InfiniTime Time and Attendance Systems Logo

Calculate your Savings below.

Implement an automated Time and Attendance System for your business!


Many companies only consider the potential cost savings from the elimination of manual calculations, when their total return on investment when implementing a Time and Attendance System is generated from three different areas: by reducing processing time, the elimination of human errors in calculations, and by preventing time theft.

Return on Investment Savings for Time Attendance System

Your largest savings may come from hidden costs that may not have been considered.
By analysing only the savings possible by eliminating manual calculations, a small company of only 10 employees would most likely elect not to purchase.
However, this would result in an incomplete decision that would cost the company thousands of dollars annually!

Enter your own information into the form below to calculate the approximate amount of money your company could save annually, by implementing a Time and Attendance System. Note: This form requires JavaScript.


Enter Your Information

   A. Pay Periods per year:

 
 
 

   B. Number of Employees:

  employees

 

   C. Hourly Wage of Payroll Staff:

 

$ / hour

 

   D. Hourly Employees' Average Wage:

 

$ / hour

 

   E. Number of Hours in Work Week:

 

  hours

     F. Number of Work Weeks per Year:     work weeks
     G. Minutes Spent Calculating just (1) Time Card:     minutes
     H. Time Theft per Employee per Day:     minutes
     I. Margin of Clerical Error Rate:     %
 



No More Manual Calculations - Eliminate Wasted Time

The American Payroll Association (APA) estimates that about 2½ minutes is spent manually adding each employee's time card.

   J. Time Saved per Year (A x B x G / 60):

 
  hours
     K. Annual Savings - No Manual Calcs (J x C):  

$



Errors in Manual Calculations

 When totaling employee hours manually with a calculator, human errors are bound to occur and go unnoticed. The APA estimates that manual payroll has an error rate of at least 1%.


   L. Annual Gross Payroll (B x D x E x F):


$
     M. Annual Savings - Calculation Errors (L x I):  

$


Reduction of Time Theft

Tardy arrivals, early departures, long breaks and lunches are all examples of employee time theft that can be eliminated by an automated Time & Attendance system. The APA estimates as much as 5 minutes per day are lost due to these factors.


   N. Time Saved per Year (B x F x 5 x H / 60):

 
  hours
     O. Annual Savings- Reduced Time Theft (D x N):  

$


Total Annual Savings

Add up the savings from manual calculations that are no longer necessary, reduction of errors and the elimination of time theft, and you'll see that a Time and Attendance system will pay for itself in less than a year.

Next, Compare this savings to the price of an affordable Time and Attendance solution, from Carpenter's Time Systems to see how quickly your new system can pay for itself and start generating a positive return on investment!


   P. Total Annual Savings (K + M + O):		  

$

      To be conservative, this study is based upon saving approximately 1.5% of your gross payroll,
      however the APA estimates that most companies will save closer to 5% of gross payroll costs.





We provide a Diverse Product Offering, to meet your exact requirements. We specialize in Time Clock and Attendance System, Time Date Document Stamp Equipment and Handheld InkJet Coding and Marking Printers....Contact Us with your product of interest..

Call Toll-Free 1-888-838-5391 or Contact us via E-Mail.




Time Products

Time and Attendance Systems for the large enterprise

Time and Attendance Systems for the Large Enterprise

500 to 5000+ Employees...InfiniTime is the Time & Attendance software for large enterprises and growing companies. A robust solution powered by the included Oracle database, designed for ease of use and addressing complex Payroll and HR Timekeeping.

Read More