Post on 14-Nov-2014
description
Why Automate your Time & Attendance Solution?
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• 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.
Why Should I Automate?
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• 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
Benefits
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• 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.
Reduce Errors & Time
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• 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
Eliminate Costs
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• 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
Reduce Overtime
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• 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
Control Payroll
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• 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
Real Time Information
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• 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
Better Planning
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• 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
Improve Productivity
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• 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
Summary
Visit www.synerionwfm.com for more information
on Time & Attendance and Workforce Management
solutions! Thank You!