Paychex Announces Fully Web-based Time and Attendance Management System
Time and Labor Online Helps Companies Control Costs, Save Time
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc. has expanded its time and attendance product line with the addition of Time and Labor Online, an Internet-based time and labor management system that provides businesses with an easy and cost-effective way to automate time and attendance processes.
Designed for mid-sized companies with varying business needs, Time and Labor Online offers both Web punching and scheduling, as well as biometric and barcode time clock options. Paychex hosts the application for its clients, giving them access to their company data from any computer with Internet access.
"Manually tracking time and attendance for an entire workforce, regardless of size, can be time consuming and expensive," says Michael E. Gioja, vice president of product management for Paychex. "In the current economy, business owners need to use every minute and every penny to their fullest capacity. Switching to an automated time and attendance solution will help companies increase payroll accuracy, save time, and control costs."
Time and Labor Online can help business owners cut costs and payroll expenses, without cutting their workforce. With a flexible feature set, Time and Labor Online can help companies save money through assistance with:
-- Controlling unplanned or unapproved time - with Time and Labor Online, business owners can better enforce policies that govern when employees can punch in relative to their schedule. For example, businesses can restrict employees from punching in prior to their scheduled shift. If in the past, employees were punching in just five minutes early every day, a company with 70 employees would pay an additional 29 hours of unscheduled time each week. -- Reducing overtime - real-time visibility into an employee's scheduled hours or hours worked allows managers and supervisors to see when an employee is approaching overtime. Supervisors can use the analytic features of Time and Labor Online to create automatic reports that alert them of such situations. -- Improving employee productivity - an automated solution like Time and Labor Online reduces the time spent filling out time cards and time sheets, allowing employees to focus more on their job responsibilities. It also reduces payroll preparation time and time card approval processes.
-- Increasing payroll accuracy - missed or inaccurate punches that can potentially lead to overpayment can be reduced with the time card management function, which allows for time-punch data to be reviewed and edited, if necessary. Time and Labor Online also streamlines the payroll and time and attendance processes through integration with Paychex payroll software.
-- Improving compliance - Time and Labor Online helps companies implement and enforce policies to better adhere to state and federal regulations, reducing the risk of fines from non-compliance issues. -- Classifying hours worked - with Time and Labor Online, businesses can track hours worked by class or function to increase reporting accuracy and potentially save on workers' compensation premiums.
"An integrated time and labor management system relieves the hassles typically associated with manually tracking time and attendance for employees - from distribution of paper time sheets and collecting time cards, to calculating data," says Gioja. "In addition to being a time saver and stress reducer, it's a cost-effective and more efficient solution that can help business owners focus their attention on running the business, not the back office."
For more information about Time and Labor Online, please visit http://largebusiness.paychex.com/timeandlabor/.
Paychex, Inc. (NASDAQ: PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex(R). Human resource services include 401(k) plan recordkeeping, health insurance, workers' compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 572,000 payroll clients nationwide as of May 31, 2008. For more information about Paychex and our products, visit www.paychex.com.
Source: Paychex, Inc.
Released June 15, 2009