NOVAtime - ROI Calculator

Annual Savings Calculator

                                            How much money can your business save by automating time and attendance processes?
Complete the form below to estimate the amount of money that you can save annually by implementing the NOVAtime Time & Attendance / Workforce Management solution.
                                        
                                                    Number of employees:
                                                    
                                                    Average wage of hourly employees:
                                                    
                                                    Number of hours in a work week:
                                                    
                                                    Number of work weeks per year:
                                                    
                                                    Time theft per employee per day:
                                                    
Time theft: According to the APA, approximately ten minutes per employee are lost daily due to late arrivals, early departures, and extended breaks/lunches.

                                                    Payroll error cost reduction:
                                                    
Payroll error cost reduction: According to KPMG/APA Payroll Benchmarking Study, average payroll error rate that a Workforce Management solution can eliminate amounts to 1.2% of Annual Fully-Burdened Payroll Expense. NOVAtime uses a conservative cost reduction rate of 0.4%.

                                                    Payroll inflation cost reduction:
                                                    
Payroll inflation cost reduction: Overtime and unworked hours can be reduced on average by 0.72% of total payroll. The maximum savings possible by automation is 1.32% (Nucleus Research).  NOVAtime uses a conservative cost reduction rate of 0.4%.
Eliminate Clerical ErrorsThe NOVAtime solution will automate the calculation of employee hours, preventing clerical errors that occur in manual processes.

                                                    Annual gross payroll:
                                                    
                                                    Payroll inflation cost reduction:
                                                    
                                                    Payroll error cost reduction:
                                                    
                                                    Annual savings:
                                                    
Reduce Time TheftThe NOVAtime solution will record accurate arrival and departure times, reducing time theft and ensuring that you only pay for actual time worked.

                                                    Time saved per year:
                                                    
                                                    Annual savings:
                                                    
Benefit from Significant Annual SavingsBy automating your time and attendance processes with the NOVAtime solution, you will see significant savings that quickly generate a positive return on investment.

                                                    Total annual savings:  
                                                    
For more information about the benefits of the NOVAtime solution Click here, or call NOVAtime at 1-877-486-6682
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