Installing Mitrefinch TMS could save you:

Saving per week: $41.98
Saving per year: $2,182.92

Mitrefinch TMS will reduce overpayment

If employees know their attendance is being monitored, overall attendance will generally improve. It is possible that employees may be overpaid by up to 30 minutes per day due to lateness, early leaving, long lunch breaks etc. Mitrefinch TMS will reduce overpayment. For salaried employees, a saving will still be seen because employees will be working longer for the same overhead. If we assume a conservative 1% increase in attendance, then the following savings could be made each week:

Number Of Employees:
Total Hours Per Week:
Total Weekly Pay:
Savings Per Week:

Human Error

With a non-computerised system, there is a potential for human error at each stage of the payroll process. Companies using a manual system are likely to be experiencing an error rate between 1 and 5%. If we assume that we can reduce this by a conservative 0.5%, then the following savings could be made:

Number Of Employees:
Total Hours Per Week:
Total Weekly Pay:
Savings Per Week: $12.19

Administration Costs

On average it is estimated to take 7 minutes for managers to manually calculate and edit each timesheet, and a further 2 minutes to manually enter data from each time sheet into a payroll application. Mitrefinch TMS removes the need for this to be performed. If it takes 5 minutes per timesheet for calculation and data entry, then the following savings could be made:

Number Of Employees:
Calculation and Entry time (hours) 0.83
Savings Per Week: $5.42

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* Suitable for 100 to 10,000+ employees

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