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Automation ROI
Number of hourly employees?
Average hourly rate of employee?
Number of minutes to review/total each time card (APA* estimates 7min)?
Hourly rate of person reviewing time card?
Percentage of inaccurate time cards (APA* estimates 1 to 8%)?
Number of standard hours an employee worked in a pay period?
Average overtime hours of employee in a pay period?
Average overtime premium?
Daily lost time in minutes for an employee (Calculation, Rounding) (APA* est 49)?
Card Audit Savings
Total savings in minutes (assumes saving 1 minute per card)400
Total minutes saved weekly2000
Total hours saved weekly33.33
Savings in dollars weekly$1,000.00
Monthly savings$4,330.00
Yearly Savings$52,000.00
Savings in Lost Time
Daily lost productivity in hours (long lunches, tardiness etc.)0.17
Average wages overpaid daily$4.17
Average wages overpaid weekly$20.83
Total wages recaptured weekly $4,166.67
Total wages recaptured monthly$18,041.67
Total wages recaptured yearly$216,666.67
Savings from Eliminating Errors
Total weekly payroll expense$200,000.00
Weekly savings$2,000.00
Monthly savings$8,660.00
Yearly savings$104,000.00
Savings from Managing Overtime (33% reduction)
Average weekly overtime hours200
Overtime wages paid weekly$7,500.00
Weekly savings$2,475.00
Monthly savings$10,716.75
Yearly savings$128,700.00
Total Savings Summary
Weekly audit savings$1,000.00
Weekly error savings$2,000.00
Weekly wages recaptured$4,166.67
Weekly overtime savings$2,475.00
Weekly payroll savings$9,641.67
Monthly payroll savings$41,748.42
Yearly Payroll Savings$501,366.67

*APA - American Payroll Association