Using a server based time clock system like the MyPunchcard Timeclock System can add up to big savings in payroll calculation overhead.. The American Payroll Association reports that average payroll hour calculation totals have an error rate between 1% - 8% of actual time worked. They also state that it generally takes up to 7 minutes to process a weekly time card for a single employee. For companies that do not utilize a time clock system the APA estimates an average of 23 to 49 minutes a day per employee are lost due to employees taking long lunches, breaks, early departures, etc.
Using conservative figures, the MyPunchcard Timeclock System will more than pay for itself, month after month, by eliminating rounding errors, reducing payroll calculation overhead, and closer tracking of employee actual work hours.
Try out our ROI calculator to see how much you could save from using the MyPunchcard Timeclock System. We've filled in the calculator with some conservative figures for a company with 50 hourly employees but feel free to enter your own companies numbers to see how much you'll save!