Time & Attendance Savings Calculator

An automated Time & Attendance System like iSolved Time can quickly pay for itself through elimination of payroll errors, and inaccurate time punches. Use this calculator to see your potential savings:

Payroll preparation is not an easy task and mistakes can be costly. According to IRS statistics, approximately 33% of employers make payroll errors costing them billions of dollars annually in penalties. But that's just the beginning, other problems include:

Inefficient Time

The American Payroll Association shows that the manual calculation of timecards takes approximately 5 minutes per card.

Human Error

The American Payroll Association shows an error rate of between 1-8% of total payroll in companies that use traditional timecards. We will use a 2% error factor to calculate the potential savings.

Overpayment

According to the American Payroll Association, the average weekly "theft" of time (long lunches and breaks, tardiness, early departures, etc.) is 4 hours and 5 minutes per employee per pay period.

How much could you save?

Number of Employees

Payroll Frequency
(payroll per year)

Average Hours
(per week)

Average Hourly Rate
(per employee)

Average Hourly Rate
(per payroll manager)

The iSolved Difference

iSolved Time is the perfect fit for small-to-mid-sized employers. Born in the cloud, iSolved Time deploys quickly and it also scales with you, so as you grow, our solution grows with you. Activate the payroll services and HR for a full human capital management solution, all within the same technology platform.

    

The iSolved Difference

iSolved Time is the perfect fit for small-to-mid-sized employers. Born in the cloud, iSolved Time deploys quickly and it also scales with you, so as you grow, our solution grows with you. Activate the payroll services and HR for a full human capital management solution, all within the same technology platform.