Legiant

Legiant Automated Time and Attendance Software
Return on Investment Analysis

Select from the following

	Do you currently use manual, paper timecards or timesheets?		Yes No
	Do you currently hand key the timecard entry?		Yes No
	Do you currently use hand entry of time as opposed to a time clock?		Yes No
	Do you intend to use a Biometric Solution?		Yes No
	Do you intend to use self service?		Yes No

FILL OUT THE FOLLOWING FIELDS:
	Number of Pay Periods Per Year:
	Number of Employees:
	Average Hourly Rate including benefits:	$
	Hours Per Employee Per Pay Period:

1. Savings on Manually Totaling Time Cards
Using an automated system reduces the time spent totaling timecards by 5 minutes per timecard per pay period.
	Number of Minutes Saved Per EE Per Pay Period:
	Number of Pay Periods Per Year:
	Number of Employees:
	Average Hourly Rate including benefits:	$

Result Area

	Minutes Saved Per EE Per Year:
	Total Minutes Saved Per Year:
	Total Hours Saved Per Year:
	Cost Savings On Manual Totals:	$

2. Savings on Manual Data Entry
Using an automated system reduces the time HR takes to total/transcribe timecard information by 5 min per employee per pay period.
	Number of Minutes Saved Per EE Per Pay Period:
	Number of Pay Periods Per Year:
	Number of Employees:
	Average Hourly Rate including benefits:	$

Result Area

	Minutes Saved Per HR Per Year:
	Total Minutes Saved Per Year:
	Total Hours Saved Per Year:
	Cost Savings On Manual Data Entry:	$

3. Savings on Human Error Factor
According to a study by the American Payroll Association published in Paytech Magazine, using an automated system reduces the Human Error factor which can be 1-8% of total payroll compared to manual totaling of timecards and data entry. A conservative number is 1.2%
	Number of Employees:
	Hours Per Employee Per Pay Period:
	Number of Pay Periods Per Year:
	% Human Error Factor:		%
	Average Hourly Rate including benefits:	$

Result Area

	Total Hours Per Pay Period:
	Total Hours Per Year:
	Total Hours Saved Per Year:
	Cost Savings On Reducing Human Error Factor:	$

4. Savings on Lost Time
According to a study by the American Payroll Association, an average employee consumes 5 minutes a day coming in late, taking long lunches, leaving early or leaving late and "riding the clock" to obtain overtime. An automated time and attendance system can typically recover 5 minutes per day per employee.
	Number of minutes saved per day from lost time:
	Average Number of Workdays Per Year:
	Number of Employees:
	Average Hourly Rate including benefits:	$

Result Area

	Hours saved per employee per year:
	Total Hours Lost:
	Cost Savings On Lost Time:	$

5. Savings on Absences
In a report by Circadian Technologies, implementing workforce management technology to manage absenteeism can reduce payroll costs by 3.2% (1.2% conservatively).
	Number of Employees:
	Hours Per Employee Per Pay Period:
	Number of Pay Periods Per Year:
	% Payroll Saved by Reducing Absenteeism:		%
	Average Hourly Rate including benefits:	$

Result Area

	Total Hours Per Pay Period:
	Total Regular Labor Hours Annually:
	Yearly Payroll Savings:
	Cost Savings on Managing Absenteeism:	$

6. Savings on Biometric Solutions
Reducing time theft and buddy-punching by using a biometric device can reduce payroll costs by 2.1%
	Number of Employees:
	Hours Per Employee Per Pay Period:
	Number of Pay Periods Per Year:
	% Payroll Saved by Reducing Absenteeism:		%
	Average Hourly Rate including benefits:	$

Result Area

	Total Regular Labor Hours Per Pay Period:
	Total Regular Labor Hours Annually:
	Yearly Payroll Savings:
	Cost Savings on Managing Absenteeism:	$

7. Savings on Employee Self-Service
Companies that implement an employee self-service model can realize an average cost savings of $250 per employee per year ($125 conservatively).
	Estimated Cost Savings Per Employee Per Year:	$
	Number of Employees:

Result Area

Cost Savings on Employee Self-Service:

SUMMARY
	Savings on Manually Totaling Time Cards:	$
	Savings on HR Data Entry:	$
	Savings on Reducing Human Error Factor:	$
	Savings on Lost Time:	$
	Savings on Absenteeism Management:	$
	Savings on Biometric Solutions:	$
	Savings on Employee Self-Service:	$
	TOTAL ANNUAL SAVINGS POTENTIAL:	$

Result Area

	Estimated Cost of Legiant System:
	ROI - Return on Investment in Years:
	ROI - Return on Investment in Months:

Find out more about Legiant Time and Attendance at www.legiant.com