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Payroll Time Clock ROI Justification
In most cases, time collection systems create an ROI within 6-9 months. When you get time clock system quotes the vendor can easily show you the ROI on their system. Only you know what you need out of a system, and if you're not sure, this site will help guide you.
Generically speaking, features that enable quick ROI include:
Being able to centralize or decentralize administration of time clock hours collected
Reduce human errors due to miscalculation, omissions, changes
Apply uniform and consistent payroll business rules and hours policies via the time clock system
Streamline and possibly reduce, re-assign payroll staff
Reduce employee queries relating to hours worked, time off
Reduce lost work time and corrections when dealing with late arrivals, early stops, shift changes and O/T
Automate time clock reporting, supervisor approvals
Gain real budget control by more easily seeing where the O/T spots are and justifying additional employees
Easily view time system History and Audit trail of all data
View labor costs at all levels
Centralize time clock system control and security over authorizations
Empower Area Managers with selective viewing of data for direct reports, authorizing, monitoring, budgeting actual performance in real time
The key here is to make your own list of what your needs are prior to getting quotes from time clock vendors. Peruse the rest of this site for more ideas and check out planning tips.
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