In today’s competitive world every minute counts...
It is important for a company to have a time and attendance solution to keep them competitive for the future. The Lathem Time Company has been providing those solutions for over 80 years. There are already over a million companies around the world benefiting by using these time clock systems. There are many benefits when implementing an automatic time and attendance system, which make it well worth the investment.
According to the American Payroll Association a company can save up to 10% of their annual payroll cost by automating time and attendance tracking. In the past, manual preparation consisted of the employee punching into a time clock or filling out a time sheet. The problems here are obvious. Also, the person doing the calculation is only human and will occasionally make a mistake. Correcting those mistakes can make this process take even longer.
A study done by The Lathem Time Company proves that an automated time and attendance system reduces payroll preparation time by up to 80%. All the employee has to do is punch in or out each day using a variety of methods, including a Time Clock Terminal (PC400TX), a Facial Recognition Terminal (FR700), Employee or even on individual PCs connected to a network. Employees can also
- Enter tips
- View hours worke
- Transfer from one department to another with the ease of a few keystrokes using a Terminal or PC.
- Receive custom text messages from the Payroll Department, which display on the screen of the device when they punch in/out.
The Payclock Pro can also be used in conjunction with an automatic door lock to allow access into a building. It is a complete Employee Management Solution!
The employee activity and punch history is pulled into the software. The software will do all the calculations, which improves accuracy. This also eliminates data entry and the software will apply all payroll rules consistently. Applying and enforcing company policy consistency is now possible by implementing an automatic time and attendance system.
There are many key features to the Payclock system.
It can maintain from 25-1,000 employee capacity.
Each employee can be tracked in ten different departments with pay differentials. Levels can be broken down by divisions, departments or jobs. Holiday, vacation, sick days and personal time off can also be tracked individually or globally. All of the employee’s personal information including home address, phone number, SSN and emergency contact information is stored in an Employee Master. An employee photo can be added to the Employee Master and there is even a custom field for Employee Performance Review Notes.
The Payclock software offers a wide variety of reports. Some examples of these reports are management reports, payroll reports and attendance reports. These reports create an environment where the employees are more productive and the decision makers are more informed. Managers now have access to information never before available allowing them to oversee the workforce and forecast and prepare budgets with ease and accuracy. The employee also has limited access to their records, which will aid in communication. This information can be exported to a monitor, printed, emailed or transferred into another software program.
The software comes standard with many popular payroll interfaces. Some of these include Paychex, Paylink, ADP and Quick Books Pro. The Lathem Time Company also offers custom Payroll/Accounting software interfaces. Interfacing with a Payroll Service or Software puts the final touches on your payroll by deducting taxes and other things such as child support. These systems virtually handle any payroll application.
There are many reputable companies already using this system worldwide. Alliance Parts Warehouse, McDonald’s restaurants, The Goodyear Tire Company, and even the Tennessee Titans are a few of the companies benefiting from this system. The number of users of these systems is rapidly growing. In order to keep up with the demand Lathem is constantly developing new versions of the software. The end user can feel confident because support packages are available on the software and hardware.
In conclusion, time and attendance automation provides benefits such as reducing payroll costs, increasing revenue and freeing up a managers time to focus on more important company issues. Therefore, by implementing this system a company can take full advantage of the key features and revolutionalize the way payroll is processed. By doing so your company will be able to saving time and money. Stop counting minutes and start counting that money by calling us today for a free demonstration (501) 833-8150.