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The various benefits of automating your time and attendance solution

The various benefits of automating your time and attendance solution

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  • 1. Why Automate your Time & Attendance Solution?
  • 2. 2
    Why Should I Automate?
    Workplace becoming increasingly fast-paced and competitive
    Companies looking to better manage labour costs, while improving operational efficiencies
    Automating workforce management helps
    Control labour costs
    Minimize compliance risk
    Improve workforce productivity.
  • 3. 3
    Benefits
    Reduced Payroll Error Rate and Processing Time
    Eliminate Costs of Timesheets and Timecards
    Reduced Overtime
    Control Payroll Increase
    Real time information
    Better Planning
    Improved Productivity
  • 4. 4
    Reduce Errors & Time
    Human error can account for 1.5-8% of annual payroll costs
    Approximately 5 minutes to manually process each employee timecard
    Example: If your company has 100 employees, over 8 hours is spent in processing time!
    Automated time and attendance can:
    Increase accuracy
    Reduces re-work
    Reduces payroll overpayments.
  • 5. 5
    Eliminate Costs
    Reduce costs in terms of storing, archiving and restoring of timesheets and timecards
    Save approximately $0.03 per timesheet  multiplied by number of employees and pay periods
    Decreased risk of records being lost, damaged or destroyed
  • 6. 6
    Reduce Overtime
    Assign work more cost-effectively
    Scheduling based on who is least likely to incur overtime rates
    Automating rules and regulations ensures payments are made according to employee schedules, preventing unnecessary payments of overtime due to unauthorized early arrivals and late departures
  • 7. 7
    Control Payroll
    Eliminate increases associated with rounding
    2-5% of annual payroll costs can be saved through automation
    3 out of 4 companies experience losses from buddy punching
    Automated time and attendance and biometric terminals can:
    Improve payroll accuracy
    Eliminate risk of buddy punching and time fraud
  • 8. 8
    Real Time Information
    Generate real time reports for:
    Labour assignments
    Progress of work
    Labour costs
    Analyze and identify key trends, opportunities and threats
    Identify gaps and monitor trends that could affect the organization, and take immediate corrective action
  • 9. 9
    Better Planning
    Extract data and transform it into presentation forms
    Effectively predict and plan labour
    Become proactive in matching resource supply and demand
    Focus on topics that require attention to ensure continuous improvement
    Identify trends and problem areas to respond by immediate corrective action
  • 10. 10
    Improve Productivity
    Improved monitoring, recording and managing time and attendance information
    Employees can rapidly view data and submit changes when needed
    i.e. Request absences, book vacation time, check work schedules, etc.
    Managers can easily monitor and approve requests and retrieve information without HR/payroll intervention
  • 11. 11
    Summary
    Control Labour Costs:
    Reduce overpayments
    Eliminate manual processes
    Reduce over-scheduling
    Provide visibility and control
    Minimize Compliance Risk
    Centralized policy administration
    Local policy enforcement
    Detail audit tracking
    Improve Workforce Productivity
    Automate productivity killing processes
    Match labour to volume
    Understand the impact people have on their business
  • 12. Visit www.synerionwfm.com for more informationon Time & Attendance and Workforce Management solutions!
    Thank You!