Affordable

Saves you time and money

Players:

15 employees:
They work 40 hours per week with an average pay rate of $20 per hour. They manually record their work time. They are good guys. But, like employees in other companies, sometimes, they leave a few minutes early, or come back to work from lunch a few minutes late. Of course, these A FEW minutes are omitted in their records. To make calculation easy, we suppose, for each employee, there is a total of 15 minutes loss from long breaks, late arrivals, or leaving early each day, which cumulates to 75 minutes a week.

One payroll auditor:
He/She keeps track of timesheets of all employees and gets paid $20 per hour to do this job. He/She is a detail oriented person, and has been doing this job for 5 years. He/She is very familiar with each procedure. However, numbers are too tedious. It is unavoidable that sometimes mistakes are made. These mistakes can potentially cost a company up to 3% resulting from inaccuracies.

One manager:
He/She manages daily business operations, reviews over 40 reports per day and makes decisions. Generally it takes 40 seconds to open a report, and hours to collect data. To make it simple, we suppose 5 hours per week is spent on reports related activities. The manager's pay rate is $30 per hour.

Savings Calculations:

Step One: Savings from Errors Eliminated:
If we can reduce human error in bimonthly payroll calculations by 3%, then the total savings for a pay period would be $ (15×20×40×3%) = $360.

Step Two: Savings from Payroll Auditor Labor Processing and Review:
If we can save the payroll auditor, who gets paid $20 per hour, 5 minutes to audit each employee's timesheet every week, and suppose this company is bimonthly payroll schedule, then within each pay period, the auditor's labor savings would be ${[(15×5)/60]×2×20}=$50.

Step Three: Savings from Time Saved by Managers
By using Tick Tock's reports applications, the manager can view reports instantly at the push of a button, and with our seamless data transfer interface, all data importing and exporting work is eliminated. Thus the total savings for the manager with in a pay period are ${[(40×40)/3600] ×11 + 5 × 2} × 30 = $447.

Step Four: Savings from Employee Time Loss
Tick Tock Payroll Time & Attendance automatically track time worked by employees, and generates reports and charts for management review. Therefore, time loss from early leave and late arrive is block entirely, which results in a total saving of $ [(75×15)/60] ×2×20 = $750 within a pay period.

Step Five: Total Savings a Year
$ (360 + 50 + 447+ 750) × 24 = $38,568

Note: As company size increases, transactions will become more complex and managers will not only benefit from time saved reviewing reports, but also from having the time to spend on their real business without being burdened by an ever so growing demands. Moreover, if multiple projects and groups are involved in payroll, Tick Tock applications will save payroll auditors far more than 5 minutes auditing each employee's timesheet and compiling payroll time and attendance related reports. You can go through this calculation yourself for your company and see how Tick Tock applications will save you time and money.