Why Automate?
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This document discusses the benefits of automating a company's time and attendance solution. It notes that automating can help control labor costs by reducing errors, overtime payments and payroll increases. It also helps minimize compliance risks and improves workforce productivity. Specific benefits mentioned include reduced processing time and costs, eliminating manual timesheets, improved scheduling, real-time access to payroll information, and better ability to analyze trends and plan resource needs.
Why Automate?
- 1. Why Automate your Time & Attendance Solution?
- 2. 2Why Should I Automate?Workplace becoming increasingly fast-paced and competitiveCompanies looking to better manage labour costs, while improving operational efficienciesAutomating workforce management helpsControl labour costsMinimize compliance riskImprove workforce productivity.
- 3. 3BenefitsReduced Payroll Error Rate and Processing TimeEliminate Costs of Timesheets and TimecardsReduced Overtime Control Payroll IncreaseReal time informationBetter PlanningImproved Productivity
- 4. 4Reduce Errors & TimeHuman error can account for 1.5-8% of annual payroll costsApproximately 5 minutes to manually process each employee timecardExample: If your company has 100 employees, over 8 hours is spent in processing time!Automated time and attendance can:Increase accuracyReduces re-workReduces payroll overpayments.
- 5. 5Eliminate CostsReduce costs in terms of storing, archiving and restoring of timesheets and timecardsSave approximately $0.03 per timesheet multiplied by number of employees and pay periodsDecreased risk of records being lost, damaged or destroyed
- 6. 6Reduce OvertimeAssign work more cost-effectively Scheduling based on who is least likely to incur overtime ratesAutomating 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. 7Control PayrollEliminate increases associated with rounding2-5% of annual payroll costs can be saved through automation3 out of 4 companies experience losses from buddy punchingAutomated time and attendance and biometric terminals can:Improve payroll accuracyEliminate risk of buddy punching and time fraud
- 8. 8Real Time InformationGenerate real time reports for:Labour assignmentsProgress of workLabour costsAnalyze and identify key trends, opportunities and threatsIdentify gaps and monitor trends that could affect the organization, and take immediate corrective action
- 9. 9Better PlanningExtract data and transform it into presentation formsEffectively predict and plan labourBecome proactive in matching resource supply and demandFocus on topics that require attention to ensure continuous improvementIdentify trends and problem areas to respond by immediate corrective action
- 10. 10Improve ProductivityImproved monitoring, recording and managing time and attendance informationEmployees 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. 11SummaryControl Labour Costs:Reduce overpaymentsEliminate manual processesReduce over-schedulingProvide visibility and controlMinimize Compliance RiskCentralized policy administrationLocal policy enforcementDetail audit trackingImprove Workforce ProductivityAutomate productivity killing processesMatch labour to volumeUnderstand the impact people have on their business
- 12. Visit www.synerionwfm.com for more informationon Time & Attendance and Workforce Management solutions!Thank You!