Workforce management software enables your organization to reduce labor costs by streamlining the payroll process and optimizing your workforce. In fact, studies published by the American Payroll Association (APA)1Published in the American Payroll Association’s PayTech magazine, May, 2003. indicate that implementing a workforce management software system can save companies from 2 to 5% or more on every payroll, on an ongoing basis. Try our savings calculator now to see how much you can save!
How does Workforce Management Software save money?
Workforce management software automates the collection and management of employee time and labor activities, so supervisors and administrators don’t waste valuable time keying in data, calculating hours, and handling time cards. And once the data is in the workforce management software, the system applies the company’s work rules automatically (such as rounding rules and grace periods, vacation roll-overs, etc.), meaning there’s no more overpayment for ‘lost time’ due to extended breaks, late arrivals or unauthorized absences. All those missed minutes can add up to a lot of money!
In addition, workforce management software reduces the amount of errors or bias that inevitably result when data is input by human beings. So all your employees are treated fairly, as company rules and pay policies are automatically applied equally to everyone.
Compliance issues? Not anymore.
With workforce management software, worries about employee grievances or compliance with legislative requirements and collective bargaining agreements become a thing of the past. With the automatic application of rules surrounding employee seniority, ranking, shifts and overtime offered/refused, etc., along with the availability of a full audit trail, you can rest assured that employee time and labor activity is well documented and substantiated by the data in your workforce management software, ready for reporting any time you need it.
Biometrics increase savings
In addition to the savings by automating with workforce management software mentioned above, additional costs can be trimmed by combining the system with biometric devices. These devices, utilizing either fingerscan or hand geometry technology, eliminate time fraud through "buddy punching", or the practice of one employee clocking in or out for another. According to the APA study, biometrics can increase the savings from using a workforce management software alone by an additional 10%. When you add it all up, it makes good financial sense to consider biometrics when researching workforce management software.
Explore ITR to find the workforce management software solution that’s right for you.