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The following example estimates the TizbiTime™ ROI of 200 employees who work 40 hours/per week and receive an hourly wage rate of $9/per hour. Human Error Factor Savings - Average hours/per week: 40
- Total weekly payroll: $72,000
- Calculation inaccuracy of manually logging payroll hours: 3%
- Weekly Savings: $2,160
Audit Savings - Manual audit process/per week: 7 minutes/per card
- Automated audit process/per week: 1 minute/per card
- Audit minutes saved/per card: 6
- Total minutes saved/per week: 1,200
- Total hours saved/per week: 20
- Rate of person doing audits/per hour: $15
- Weekly Savings: $300
Lost Time Savings - Lost time primarily consists of wages recaptured by our rounding and restriction capabilities.
- Estimated minutes of lost productivity/per day: 7
- Average wages overpaid/per day: $210
- Average wages overpaid/per week: $1,050
- Weekly Savings: $1,050
TizbiTime™ Savings - Daily Savings: $702
- Weekly Savings: $3,510
- Monthly Savings: $15,210
- Annual Savings: $182,520
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