bioTRAiTS » Support » ROI
Return on Investment
Please fill in all fields and click "Calculate" to view your payroll savings summary

BioTraits Time Manager Labor ROI
Number of employees
Hourly rate of manager or payroll administrator
Average wage of hourly employees
Number of hours in your weekly pay period

Payroll Processing Efficiency
According to Payroll Exchange, Newsletter of American Payroll Association, it takes an average of 5 minutes to manually commpute the hours of one employee per pay period.
Number of employees --
Minutes per card
Total pay period minutes saved --
Total paid period hours saved --
Hourly rate of department head or payroll --
Annual department labor saving through efficiency --

Overpayment Cost to Business
Accourding to the APA, the average abuse of time (long lunches, breaks, buddy clocking, etc.) is four hours and five minutes per employee each week. Example assumes 12 minutes a day or an hour a week.
Number of employees --
Average time lost each day
Average employee's rate/hour --
Average wages overpaid daily per employee --
Average wages overpaid weekly per employees --
Number of employees --
Annual wages overpaid --

Human Error
APA data shows an error rate of 1 to 8% of companies that uses traditional timecards at an average of 1% rate of error.
Number of employees --
Average hourly wage --
Average pay period hours worked --
Total weekly payroll --
Human error factor
Annual human error savings --

Saving Summary
Payroll Processing Efficiency --
Overpayment Cost to Business --
Human Error Savings --
Total Annual Savings --