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+ Benefits
of PC Based Time & Attendance Systems
The main aversion that employers have about PC based systems is that they believe that it is to costly. The truth is when you purchase a PC based system from ARMI and Time America, it will not cost anything. Payroll equals around 70% of a companies overhead. By eliminating human error, time theft, time spent on calculating time for payroll processing a PC based system will pay for itself within a year. And it continues to pay you back.
ARMI provides state of the art time and attendance systems at affordable prices, so even the small business man would be able to gain a savings of more than what a PC based system cost. We sell for 30-50% less than our major competitors. We also offer extended warranties, free phone support, free local training and software instillation, and no on-going support fees. With our competitive pricing, variety of software and "time clocks" ARMI can solve just about any time and attendance problem.
The following is a return on investment based on a company of one hundred employees using an antiquated time clock (cardboard punch time clock).
+ Audit Savings
Studies have shown that totaling of time cards takes approximately 6 minutes per card each pay period. * The PC based system reduces that to 1 minute.
|
Number of employees: |
100 |
| Minutes saved each card: | 5 |
| Total minutes saved each week: | 500 |
| Total hours saved each week: | 8.33 |
| Rate of department head: | $7.00 per hour |
| Department head's labor savings: | $58.30 |
| Annual Savings: | $3,031.60 |
+ Human Error Factor
Studies have shown that human error in time calculations can range from 1% to 8%.* In this sample we have assumed a modest .25% or .0025.
|
Number of employees: |
100 |
| Average hourly rate: | $5.00 per hour |
| Average hours worked weekly: | 40 |
| Total weekly payroll: | $20,000.00 |
| Human error factor: | .0025 |
| Weekly Savings: | $50.00 |
| Annual Savings: | $2,600.00 |
+ Lost Time Savings
Lost time or "time theft" savings consist of wages recaptured by the systems rounding and restriction capabilities. The average weekly "theft" (long lunches and breaks, tardiness, early departures, etc.) has been shown to be 4 hours and 5 minutes per week.* To calculate the lost time and the amount recaptured, we have assumed only 6 minutes lost per employee per day.
|
Minutes lost per day per employee: |
6 (.10 of an hour) |
| Average hourly rate: | $5.00 per hour |
| Average wages overpaid daily: | $.50 |
| Average wages overpaid weekly: | $2.50 |
| Total number of employees: | 100 |
| Total wages recaptured per week: | $250.00 |
| Annual Savings: | $13,000.00 |
+ Savings Summary
Total dollar savings with PC Based Time & Attendance Systems:
| Audit Savings: | $58.30 |
| Human Error Factor: | $50.00 |
| Lost Time Savings: | $250.00 |
| Total Weekly Savings: | $358.30 |
| Total Annual Savings: | $18,631.60 |