Return On Investment Calculation
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An automated Workforce Management Solution from Time America will pay for itself in less than a year! You will dramatically increase your profits by eliminating human error and ensuring that you are only paying your employees for the time that you have them scheduled to work. Naturally, the ability to track job costing and print attendance reports will bring your business numerous additional benefits - as will the many other features of our systems. Few business solutions can hope to offer such a rapid return on your investment.

You will begin to save money almost immediately because an automated solution simply does not make the mistakes that are unavoidable with manual payroll calculation. As with any computerized system, ours can do the work of several people with speed and accuracy that no person could hope to match. Even our most simple products will remove human errors from the equation, saving you thousands of dollars every year!

Eliminating "Time Theft" is perhaps one the most crucial money-savers for mid to large-sized businesses. By enforcing employee schedules and eliminating unauthorized overtime, any size company can realize huge savings for a relatively small expense. Since Time America has automated the entire process from employee punch to supervisor approval, you can implement strict controls with little or no impact on existing workloads. The ability to control employee schedules, coverage and overtime will allow you to take a huge bite out of your companies overhead without a reduction in manpower!.

Return = Benefits - Costs

Investing in a Workforce Management solution, like all investments, should be analyzed based on the potential return it offers your organization.

Calculating the return on investment will require you to compare the costs of implementing the Workforce Management solution against the benefits it provides.

Before you choose a solution, make sure you know the return you expect to achieve. Don't assume that the benefits are the same for each solution you analyze. Having the information up front will also allow you to monitor your actual progress.

    ROI  Questions:
1. Company Name:
3. Number of employees you anticipate using an automated system:    Employees
4. Average hourly wage rate of employees using the system: $
5. Average number of hours these employees work per week:    Hours
6. Time card audit by supervisors & payroll department (average 7 minutes?)
(Amount of time wasted tracking down people who forgot to punch and/or the time wasted just manually adding the timecards/sheets)
    Minutes
7. Average hourly wage of Time Card auditing personnel? $
8. Average lost time per employee per day (average 6 minutes?)
(Example employee could be 2 minutes late for work, take an extra 2 minutes for lunch, and leave 2 minutes early from work)
    Minutes
9. Error factor or accuracy of your payroll (average 3%?)
(If your payroll department is extremely meticulous, dedicated, and conscientious, your error factor is still a minimum of 1%)		    %

Remember, it is impossible to ever have a 100% accurate payroll if you are still manually adding up time cards or handwritten sheets filled out by your employees. Even if you are inaccurate by only 1% each pay period, that is costing your company hundreds or thousands of dollars annually.

Why not automate the payroll process? You will:

  1. Save your company a lot of money
  2. Save 70% to 80% of your supervisor's and payroll personnel's time
  3. Be able to generate reports to operate your company more efficiently