Are you are looking for time clock software? Well, you have found what you were looking for. With time clock software, there are basically 2 variants for you to choose from. There is the traditional installed software where you download (or get a CD) the software and install in on your office computers. Next, there is the online type. With online clock software there is no download or installation; you simply open an account with the service and start using it. I will discuss the primary differences here and let you decide which is best for you.
Please read to the 'conclusion', the findings are going to shock you!
Installed Time Clock Software
With the installed type, you will typically pay a base fee for the initial software purchase; this is generally between $100 and $300. Then there are typically upgrade charges for installing on additional computers and adding additional employees. For example if have 15 employees each with their own computer, expect the initial upgrade cost to be between $400 and $600. Concerning support, expect free support for the first 2-3 months, then you may pay up to $50 for each help request thereafter. Software updates are generally included for 1-2 years, after that you must purchase a new license to upgrade and continue use of the software. The vendor typically gives a discount, up to 50% off for the upgrade/license. Please note that these are actual costs which you can find yourself by searching the web.
Next the software must be installed and configured on your server and each employee’s computer. If you are computer savvy you may be able to do this yourself, if not you will have to pay an IT person roughly 3-4 hours to get the system running.
Modern installed software systems are generally reliable and typically simple to use. They will include features like a PC(or Mac) time clock for employee, PTO(paid time off) tracking and possibly scheduling depending on the vendor.
- Initial Investment For A 15 Employee Company: ~$1000
- Setup Time: Less Than One Week
- Phone Apps: No
- Online Access: No
Online Time Clock Software
If you opt for an online time clock software you will typically pay a base monthly fee, then a per employee monthly fee. The base monthly fee ranges from $0.00 ($0 for OnTheClock) to $20.00 for other vendors. The per employee monthly fee is generally between $2.50 and $5.00, it is 2.50 for OTC. The initial investment is almost always $0, actually most services offer 30 days of use for FREE. Support is almost always free (for life) with online punch clock software.
Being web based, there is no software installation. You do not need to possess technical expertise or hire IP personal to get it up and running. To implement your time clock, you would choose a system, open the account and follow the instructions. This generally takes about 5 minutes to add 15 employees. All interaction is done using a web browser or phone apps. Most online time clocks offer location control to make sure employees are at work when clocking in/out.
Modern online time clocks are very simple to user for both employers and employees alike. Features like PTO, overtime calculations and scheduling are included at no cost(most of the time)
- Initial Investment For A 15 Employee Company: $0
- Setup Time: 5 Minutes
- Phone Apps: Yes
- Online Access: Yes
Conclusion - Online Wins
Here we let the numbers speak for themselves. For a 15 person company installed time clock software will cost you roughly $1000 for the initial investment then about $500 per year for upgrades and license fees. Total for 3 years would be about $2000 for the software alone. This cost does not include any servers or IT help required, as this could add another $1000 - $2000. The installed software option typically costs a total of $4500 for 3 years, including software, hardware (server) and IT costs.
Looking at the online time clock, a 15 employee company would be about $2.50 per employee each month. The monthly bill would be $37.50, or $450 per year. 3 years would be $1350
$4,500 VS $1,350
The choice should be clear.
If you have read to this part of the article, I’m sure you can see why going online is a clear choice. No messy software installation, automatic backups and access anywhere are huge benefits over the installed software type.
Welcome To OnTheClock - Here Are 3 Things We Do For You
Our time clock software boasts fast setup and simple daily operation. With a full set of features including employee PTO tracking, shift scheduling, clock location(GPS) control and payroll integration our system will complement any small business. There are many reasons to upgrade your employee time tracking to modern online time clock software; here we will look at the top 3 reasons.
1 - Saves You Time
If you are currently tracking employee hours using paper or handwritten time cards you have the most to gain. Collecting the time sheets and performing manual calculation can take hours of your precious time each week. The APA estimates that it takes about 1.5 hours per week to calculate timesheet hours. That’s 78 hours of wasted time per year. Also consider that you should store time card data for at least 3 years, this takes file space or extra time if you scan and digitally file.
With OnTheClock, all calculations are automatically done for you! When employees clock in and out, the times are accurately and permanently recorded. If you need to make adjustments, an audit trail protects you and you employees. When it’s time for payroll, timesheets can be exported or sent directly to your payroll people. Download PDF or Excel time cards to your drive for records keeping.
2 – Increase Accuracy
According to the APA, there is an error rate between 1% and 8% when performing manual time card calculations. The error can go either way, an overpayment to your employee or an underpayment to the employee. If you overpay the employee, it is obvious that this hurts the bottom line of the business. If an underpayment occurs, this is even worse. Underpayments degrade employee morale and can even bring on DOL investigations or law suits.
Opting for a more modern time keeping system helps eliminate these problems. Calculation errors go from 4% to 0%, as the time clock software does the calculations automatically. Make sure you are protected by using software like OnTheClock.
3 – Helps Eliminate Time Theft
Time theft occurs by what is called buddy punching in the time tracking industry. Let’s say that Julie is running 10 minutes late for work, when she shows us late the situation is that no one will notice. However her time card will reflect the tardiness and she will be docked pay and possibly be written up. So she calls her “buddy” who is at work, and he punches her in early. This is buddy punching.
Buddy punching is a serious problem for all businesses.
Studies have revealed that a stunning 75% of employees and an estimated 7% of gross payroll basically stolen from companies each year, part of this data comes from the Chamber Of Commerce. For a small business of 15 employees, this can be over $30,000 of stolen payroll. With clock location controls such as GPS(geo-location), IP, device authorization and automation you can mitigate buddy punching and stop the flow of stolen time.
Are you ready to save time, increase accuracy and eliminate time theft?
Give OnTheClock a Try, its FREE!