Is Your Business Big Enough For Time Tracking Software?
Interestingly, the majority of our customers are companies with under 10 employees so clearly there must be a good reason to bother. And indeed, there is. There are several.
Employees can be pretty lackadaisical when it comes to manual time tracking. Technically, they can write in whatever they want on a paper time sheet as long as no one is watching but with online time tracking, each employee must log into their own account to punch the clock. Their location can be restricted and our system can snap a photo for triple the accuracy. Most accounts are setup to allow employees to request edits and alert the account administrator of the requested changes but employees can’t doctor up their entries without approval. All of this ensures that the time employees say they work is the real time and is not exaggerated or fabricated.
According to research done by the American Payroll Association, the average employee pads their time by at least 10 minutes a day. A lot of employees pad a lot more than that too. Let’s say the employee comes in at 9:10, they might write down on the time card that they came in at 9am. If they do the same thing when they clock out, that’s 20 minutes in one day! To the employee, it may seem like no big deal but when employees do this every day, it amounts to a whole lot of money. Take a look at our ROI calculator to see just how much a company can save based on the number of employees they have. A company with 5 employees can save $1,870 per year, and that’s after paying for the service!
Ease of Payroll
It doesn’t matter how many employees you have, you have to run payroll. Do you want to spend an hour at it, adding up timesheets and figuring overtime? Or do you want to click a couple buttons and be done with it? The payroll processor’s time is money (which may be you) and you can seriously reduce the amount of time spent on payroll by using an automated service such as ours.
Accuracy of Payroll
Overtime calculations aren’t easy for most people and, these days, there’s really no reason to bother with it at all. Set up your system to track overtime based on California rules or the more general Federal rules and you can rest assured that your overtime calculations will be correct week after week. Not only does this avoid any over payments but it also helps companies to avoid or win wage and hour lawsuits.
Transparency in Billing
When employees track time against projects, customers can see the accurate allocated time for all the work employees do. This transparency helps clients to feel that their bill is justified. Then they’ll usually pay you faster.