April 12, 2017

ROI

# Of Employees Process Savings Overpayment Savings Human Error Savings Total Savings
50 $5,200 $65,000 $12,000 $82,680
100 $10,400 $130,000 $24,960 $165,360
500 $52,000 $650,000 4124,800 $826,800
1000 $104,000 $1,300,000 $249,600 41,653,600
2000 $208,000 $2,600,000 $499,200 $3,307,200
5000 $520,000 $6,500,000 $1,248,000 $8,268,000

One year calculations based on paying a payroll administrator $20/hour, hourly workers an average of $12/hour, a 40 hour work week, and overpaying employees for 25 minutes each day when they were not actually working.

  • Processing Savings – Payroll time averaging 7 minutes per card.
  • Overpayment Savings – Employees are on Average are paid for 255 minutes more than they actually work each day.
  • Human Error – Manual Miscalculations and time spent fixing mistakes that are found.

Saving money just makes sense. Now, what if we told you that the money you save on payroll could pay for the cost of TreeRing Time? Think we are kidding?

Just think of all the employees you have working for you. How much do you pay them an hour and how do you record that time? If Steve comes in a few minutes late here or there, and writes down the time he was supposed to be at work. No harm right? However, those few minutes turn into hours. Take that figure and multiply it by your entire workforce and it really starts to add up.

Believe it or not, we’re not done yet. Now that you have all those “approved” timecards, it’s time for your Payroll Professionals to enter the data into another system. So you take the time it takes to collect all the time cards, the time it takes to calculate all of the leave time, regular pay, overtime, and finally key all of it into the system. You know what’s worse? What if there’s an error? Then someone gets paid too much due to math errors – or worse yet – someone doesn’t get paid at all because their time card was lost.

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