Investment Return Calculator

In today’s competitive marketplace, every dollar counts. Time and attendance solutions from C.T.E. Systems, Inc. can provide a fast return on investment by removing costly buddy punching, accurately tracking employee data, eliminating human error and the cost associated with managing paper-based time cards.

Factors contributing to your ROI include:

• Human Error. No employee is perfect and by automating timekeeping tasks, you virtually eliminate the potential for payroll errors.
• Audit Savings. A dramatic reduction in the time spent by supervisors and payroll in the review and calculation of time cards is realized.
• Lost Time Savings. Fair and consistent enforcement of company pay policies and rounding can recapture “time theft” wages by not overpayment of wages.

Calculate Your Return On Investment

By providing answers to the following questions, the ROI Calculator below can determine the savings estimate for your company in each ROI category on a weekly, monthly and annual basis.

Human Error Factor	Example	Your Company
Number of Hourly Employees	50
Average Hourly Rate	$15.00
Average Hours Per Week	40
Total Weekly Payroll	$30,000.00	$
Your Estimated Human Error Factor*	2%	%
Weekly Savings	$600.00	$
*Studies by the American Payroll Association have shown the human error factor to range from 1% to 8%.  The example assumed at rate of 2%.

Audit Savings	Example	Your Company
Number of Hourly Employees	50
Audit Minutes Saved Per Time Card	6
Total Minutes Saved Per Week	300
Total Hours Saved Per Week	5.00
Pay Rate of Person Preparing Payroll	$18.00	$
Weekly Audit Labor Savings	$90.00	$
*Industry Studies have shown it requires approximately seven minutes per time card to calculate weekly payroll. A C.T.E. automated time and attendance system will reduce that to one minute.

Lost Time Savings	Example	Your Company
Lost Daily Productivity in Minutes	9
Lost Daily Productivity in Hours	0.15
Average Hourly Rate per Employee	$15.00	$
Overpaid Daily Wages per Employee	$2.25	$
Number of Hourly Employees	50
Average Overpaid Daily Wages	$112.50	$
Weekly 'Lost Time' Savings	$562.50	$
Lost Productivity, or "time theft," savings consist of wages recaptured by the C.T.E. System's fair and consistent application of company pay and rounding policies. The example conservatively uses a daily savings of 15 minutes, or 75 minutes per week.

Total Savings with a Time & Attendance System from C.T.E. Systems
Total Weekly Savings	$1,252.50	$
Total Monthly Savings	$5,427.50	$
Total Annual Savings	$65,130.00	$