How would you save 5%? Simply installing a time clock in your company. Want further savings? Make the clock a biometric time clock. The reason is two fold. A time clock will ensure accurate time reporting. This means, if you have manual timesheets, that employees wont be able to "fudge" the hours. It is common to see employees add a few minutes to their timesheets or come back from lunch a little late but report that they arrived on time when they turn in their hours.
Now that we see why a clock is very important controlling your payroll expenses, but how to choose a clock that is effective but affordable.
Ideally the time clock would be able to export to your payroll processor of choice such as ADP, Paychex or QuickBooks.
So which clocks would be ideal?
I have used EC200 from Easy Clocking. It is an affordable biometric time clock. The system it comes with is basic software that allows you to export to excel files. The one clock we have has an additional fee you can export the punches directly into QuickBooks via IIF file. Basically for the price of the clock (found cheap in here) and the exporter which the vendors on amazon can sell to you.
I will be producing YouTube videos about the clocks shortly, and if you have any questions, I can answer them for you.