Savings Calculator
Many factors can contribute to cost savings when implementing an automated time and attendance solution. These factors may include but aren't limited to: time to process payroll; manual data entry errors; and time theft.
Many factors can contribute to cost savings when implementing an automated time and attendance solution. These factors may include but aren't limited to: time to process payroll; manual data entry errors; and time theft.
To determine how much your company can save with AMGtime Systems, enter the necessary information in the fields below:
The American Payroll Association shows an error rate of between 1-8% of total payroll in companies that use traditional timecards. We will use a error factor to calculate the potential savings.
Your estimate for manually auditing and entry of time cards takes minutes per card each week. An automated time and attendance system will reduce that to 1 minute.
Lost time primarily consists of wages recaptured by our rounding and restriction capabilities. To calculate this lost time, you assumed an average of minutes per day are lost.
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:
Copyright © 2022 AMG Employee Management. All rights reserved.