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Time and Attendance  

Quantix Automated Time and Attendance Software Return on Investment Analysis

For organizations currently using a manual timekeeping system


Select from the following

  Do you currently use manual, paper timecards or timesheets? 
 
 Yes   No
  Do you currently hand key the timecard entry? 
 
 Yes   No
  Do you currently use hand entry of time as opposed to a time clock? 
 
 Yes   No
  Do you intend to use a Biometric Solution? 
 
 Yes   No
  Do you intend to use self service? 
 
 Yes   No
FILL THE FOLLOWING FIELDS:

  Number of Pay Periods Per Year:  
 
  Number of Employees:  
 
  Average Hourly Rate including benefits:  
 $
 

Hours Per Employee Per Pay Period:

  
1. Savings on Manual Data Entry
Using an automated system reduces the time employees spend totalling their timecards by 5 minutes per employee per pay period.
 

Number of Minutes Saved Per EE Per Pay Period:

  
  Number of Pay Periods Per Year:  
 
  Number of Employees:  
 
  Average Hourly Rate including benefits:  
 $

Result Area



  Minutes Saved Per EE Per Year:
 
  Total Minutes Saved Per Year:
 
  Total Hours Saved Per Year:
 
  Cost Savings On Manual Data Entry:
$
2. Savings on HR Data Entry
Using an automated system reduces the time HR takes to total/transcribe timecard information by 5 min per employee per pay period.
 

Number of Minutes Saved Per EE Per Pay Period:

  
  Number of Pay Periods Per Year:  
 
  Number of Employees:  
 
  Average Hourly Rate including benefits:  
 $

Result Area



  Minutes Saved Per HR Per Year:
 
  Total Minutes Saved Per Year:
 
  Total Hours Saved Per Year:
 
  Cost Savings On HR Data Entry:
$
3. Savings on Human Error Factor
Using an automated system reduces the Human Error Factor which can be 1-8% of total payroll. A conservative number is 1.2%
  Number of Employees: 
 
 

Hours Per Employee Per Pay Period:

  
  Number of Pay Periods Per Year:  
 
  % Human Error Factor:  
   %
  Average Hourly Rate including benefits:  
 $

Result Area





  Total Regular Labor Hours Per Pay Period:
 
  Total Minutes Saved Per Year:
 
  Total Hours Saved Per Year:
 
  Cost Savings On Reducing Human Error Factor:
$
4. Savings on Lost Time
An average employee consumes 5 minutes a day coming in late, taking long lunches or leaving a few minutes late for overtime.

An automated time and attendance system can recover 5 minutes per day per employee.
  Number of minutes saved per day from lost time: 
 
  Total Number of Workdays Per Year:  
 
  Number of Employees:  
  
  Average Hourly Rate including benefits:  
 $

Result Area







  Hours saved per employee per year:
 
  Total Hours Lost:
 
  Cost Savings On Lost Time:
$
5. Savings on Absences
In a 2008 study by Mercer Human Resources, the total costs of absences averages 36% of payroll.
Implementing workforce management technology to manage absenteeism can reduce payroll costs by 3.2% (1.2% conservative)
  Number of Employees:  
  
  Hours Per Employee Per Pay Period: 
 
  Number of Pay Periods Per Year:  
 
  % Payroll Saved by Reducing Absenteeism:  
 
 %
  Average Hourly Rate including benefits:  
 $

Result Area






  Total Regular Labor Hours Per Pay Period:
 
  Total Regular Labor Hours Annually:
 
  Yearly Payroll Savings:
 
  Cost Savings on Managing Absenteeism:
$
6. Savings on Biometric Solutions
Reducing time theft and buddy-punching by using a biometric device like the GT-400 Hand Punch can reduce payroll costs by 2.1%
  Number of Employees:  
  
  Hours Per Employee Per Pay Period: 
 
  Number of Pay Periods Per Year:  
 
  % Payroll Saved by Reducing Absenteeism:  
 
 %
  Average Hourly Rate including benefits:  
 $

Result Area




  Total Regular Labor Hours Per Pay Period:
 
  Total Regular Labor Hours Annually:
 
  Yearly Payroll Savings:
 
  Cost Savings on Managing Absenteeism:
$
7. Savings on Employee Self-Service
Companies that implement an employee self-service model can realize an average cost savings of $250 per employee per year ($125 conservatively).
  Estimated Cost Savings Per Employee Per Year:  
   $
  Number of Employees:  
  

Result Area




  Cost Savings on Employee Self-Service:
$
 
SUMMARY
  Savings on Manual Data Entry:  
   $
  Savings on HR Data Entry: 
   $
  Savings on Reducing Human Error Factor:  
   $
  Savings on Lost Time:  
   $
  Savings on Absenteeism Management:  
   $
  Savings on Biometric Solutions:  
   $
  Savings on Employee Self-Service:  
   $
  TOTAL ANNUAL SAVINGS POTENTIAL:  
   $

Result Area




  Estimated Cost of Legiant System:
 
  ROI - Return on Investment in Years:
 
  ROI - Return on Investment in Months:
 
 

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