In today's economic climate, it's more critical then ever to do more with less. Within the U.S. 33% of companies pay "...billions of dollars in penalties and fines annually" due to unecessary complexity and human errors related to antiquated time collection process. Could you be one of those companies?

By not using TimeMD, you could be throwing money down the drain! Use the form below in order to learn how much you could be saving.

Factors to Consider When Calculating Savings

Human Error Savings
The American Payroll Administration (A.P.A.) has shown that companies who use traditional time tracking systems have a human error factor rate between 1-8%. That means if your total payroll cost for the year was $500,000 you should expect to pay about $20,000 in human based errors! This error factor is usually due to miscalculations and missed time entries. For our calculator, we give the benefit of the doubt and only use 4%. However, through TimeMD we can reduce that error rate to only 0.5%!

Lost Time Savings
Studies have shown that employees are taking longer breaks, showing up late, having friends punch them in and leaving early more often than ever before. Traditional time systems just can't give that oversight today's managers need. As a result, the APA has found that employees could be overpaid by 4 hours and 5 mins each and every week! With TimeMD, we can cut that time in half!.

Auditing Savings
At the end of the pay period, managers spend on average 15 minutes per employee reminding, gathering time sheets, approving as well as calculating time spent on the job. With TimeMD, we can cut that time to under 2 minutes! Basically all that's left is to approve the time your employees have already entered.

Through paper reduction, increased payroll efficiency and fewer pay check corrections, you'll be amazed at how much TimeMD can save you!