Workforce Management Blog

As companies look to better manage labour costs and improve operational efficiencies, automating time and attendance management is a key area for direct savings. Although more and more companies have began moving in the direction of automating some of their payroll functions, they are still faced with the challenge of eliminating the risk of buddy punching.  In fact, three out of four companies experience losses from buddy punching.

If employees believe that the system they are using is reliable and accurate, they will be far less likely to attempt buddy punching or other fraud. Deploying biometrics virtually eliminates payroll errors associated with buddy punching since it requires the employee to physically be there to clock in and out of work. By doing so, companies can realize significant returns by reducing the cost of payroll. Biometrics can also eliminate the need for paper-based or badge-based systems and its associated maintenance costs, and overall improve efficiency.

Depending on the number of employees, facilities, and work schedules involved, the scale of potential returns from implementing biometrics can vary. On average when implemented successfully, companies using biometrics can deliver a payback in fewer than 9 months. That is return on investment (ROI) within the first year of purchase.

The ROI will also depend on the adoption process, and ease (and cost) of development. With biometric terminals, ROI can be realized by both the employees and company as a whole. At the enterprise/end-user level, improved accuracy of data collection, elimination of manual entries and printed cards, and the added integrity of biometric records dramatically increase the confidence that the correct employees are on site. ROI can be realized in reduced supervisory and monitoring time and improve the employee-supervisor relationship. This allows managers to focus their efforts on achieving an effective workforce instead of constantly worrying about their employees and time consuming administrative tasks. With biometric time and attendance terminals, it is estimated that 2 to 5% of payroll can be cut, which can save companies thousands of dollars.

For a quick estimation on how much your company can be saving by automating your workforce, click on our ROI calculator at www.askjimmy.ca. Learn more about biometrics at our website.

Today is the last day in our old office; boxes are being packed, wires are disconnected and everyone is really excited for the move!

I recently wrote an article to be posted in the Mississauga Board of Trade Magazine that is published every quarter. See below:

TimeTECH Moves to a Larger Office to Accommodate Expansion!

As most companies are struggling through these uncertain economic times, some companies are expanding and thriving.  TimeTECH is one of these companies.  Why?  TimeTECH is helping companies operate more efficiently by automating their workforce management and time and attendance practices, saving companies anywhere from one to three percent of their annual payroll expenses.  That’s a lot of dough!

So far in 2009 TimeTECH has doubled their staff, won the Small Business of the Year Award from MBOT and is currently moving into their new office at 7420 Airport Rd Unit 101 to accommodate the increase in staff and future expansion plans.  The new office will be equipped with state of the art technology, demo rooms and more room for the team!

TimeTECH celebrated their 25^th anniversary last year, and looks forward to the next 25 years of business excellence.  “We have achieved many milestones in 2008 and 2009…Moving into a larger office is a sign that we are going to achieve great things in the near future” Says President and CEO James Edwards.

For more information on TimeTECH visit www.timetech.ca or call toll free 1-877-816-TIME (8463)

Well, the countdown is on! Only a few more days until the 2009 APA Annual Congress in Long Beach California!

TimeTECH will be exhibiting at the tradeshow portion of Congress at booth number 435. Last year Congress was held in Austin Texas where we made our first APA appearance as an exhibitor. The show was so successful, we decided to participate again. Last year we met thousands of HR and Payroll professionals interested in workforce management software, time and attendance, absence planning, benefit accruals, vacation planning and more!

We were shocked at how many large organizations across North America are still processing their time and attendance and other workforce management practices manually! They were all impressed by the amount of time and money their organization could saving by integrating TimeTECH’s workforce management solutions. Most companies see anywhere from 1-3% of their annual payroll back in savings.

Where do the savings come from?

• Eliminating buddy punching
• Time fraud
• Manual processing time
• Processing errors
• Rounding of hours
• Time spent processing pay rules
• Eliminating spreadsheets!
• And more!

If your company is attending the APA Congress in Long Beach, feel free to stop by our booth during the tradeshow hours to say hello! You can find us at booth 435.

Show Times:

May 20^th: 5:15pm-8:15pm

May 21st: 12:00pm – 7:30pm

May 22^nd: 10:00am – 12:00pm

For more information on the APA’s Annual Congress, visit their official website at: http://www.americanpayroll.org/congress/congress-2009

About APA Congress:

Pack your steamer trunk and head to Long Beach, California, May 19-23, 2009, for 4-1/2 information-packed days at the Long Beach Convention & Entertainment Center.

This year’s Congress features more than 190 workshops covering a wide spectrum of payroll, accounts payable, human resources, benefits, technology, management, and career development topics, along with the largest payroll and accounts payable exhibit hall in the world! Hear about the latest legislative and regulatory changes from government representatives and industry experts. Network with colleagues through workshops, at our exhibit hall, at meals and evening entertainment events.

See all the details in the Congress brochure.

Who should attend?

Our annual Congress is open to APA members, their colleagues, and others involved in payroll, accounts payable, human resources, benefits, and technology.

What you will learn

• What APA’s Washington lobbyists are doing to make your job a little easier
• The latest payroll compliance developments from the IRS, SSA, OCSE, DOL, and DHS
• Steps taken by leading payroll departments to reduce costs and improve their organization’s performance
• How to ensure compliance in difficult areas such as fringe benefits, 401(k) plans, stock options, cafeteria plans, nonqualified deferred compensation plans, and more
• What the IRS is looking for in executive compensation audits