3 Hidden Payroll Costs: CTSTime Cloud Systems Help Save South African Small Businesses Money

YOUR TIME IS VALUABLE!

CTSTime Cloud Systems help South African small businesses save money by automating time and attendance processes, cutting hidden payroll costs, and improving productivity.

Hidden payroll expenses are due to errors in employee time-tracking, reliance on outdated manual systems, and misspent human resources (HR). Recurring errors can lead to further increases in future payroll expenses due to poor business policy decisions resulting from inaccurate and insufficient data and analysis reporting.

What Are Hidden Payroll Costs and How Can I Avoid Them?

Undetected production loss (employee attendance-recording errors), wasted managerial time, and a lack of data-driven administrative decisions cost South African small businesses come payday. By harnessing the power of modern technology companies can prune hidden expenditures and, save an average of 5% on annual payroll expenses.

3 Solutions to Hidden Payroll Costs: Access Control, Time & Attendance Software, Cloud Based Data Analysis

Three key solutions to hidden payroll costs include access control for employee tracking, time and attendance software for managerial efficiency, and cloud-based data analysis for better business decision-making.

CTSTime Cloud System is proudly South African and packed with features designed to save you time and revolutionise the way your workforce runs.

1. Employee: Access Control Devices & Automated Data Collection

Undetected production loss is a significant source of hidden payroll expenses. A study by the American Payroll Association revealed that manual time-tracking errors can cost businesses up to 7% of total payroll.

Access control systems eliminate the need for paper-based processes, ensure accurate data capture and seamlessly integrate with payroll software. Electronic access-control biometric devices accurately record employees clocking in and out. The CTSTime and Attendance Wellness Module takes a unique approach to managing absenteeism. Automated tracking is employee-focused and eliminates the onerous task of manual clocking, freeing time to focus on core job responsibilities and improving productivity.

With advances in technology, biometric access control systems have become increasingly sophisticated and user-friendly; and integration with payroll systems make them a fundamental tool for all businesses.

CTSTime System – Access Control Hardware Solutions

We offer a range of solutions from cost-effective to advanced biometrics scanners, providing immediate access to accurate clocking totals.

Benefits of accurate time records:

• eliminate entry errors and time fraud
• improves scheduling structure and boost employee satisfaction

Employees appreciate knowing that their paycheck amount is based on actual hours worked.

SUPREMA FaceLite – live face detection (LFD) terminal

• 30 000 users and 5 000 000 event logs
• adaptive near-infrared (NIR) LFD Live Face Detection (https://ctstime.co.za/time-and-attendance-hardware/#suprema)
• accommodates differing standing heights (145cm-210cm)

Facial recognition biometrics offers a robust defence against identity theft, unauthorised access, and fraudulent activities. Easy to install and compatible with CTSTime and Attendance Software, it is suitable for small businesses and multinational companies

2. Management: Time and Attendance Software

Managing employees and handling payroll is a time-consuming task.

Tracking employees’ time and attendance is a fundamental necessity for any business. Manual systems require lots of paperwork to record hours worked and are prone to error. Employers can waste countless hours ensuring that labour regulations are met, often at the expense of focusing on internal payroll trends to improve operational flow.

Avoid Payroll Errors

Miss-recorded hours result in an inaccurate payroll, impacting both employee satisfaction and the financial integrity of the business.

• prevent overpaying or underpaying employees
• plan for public holidays
• process the payroll on time

Time and attendance software automates the entry and computation of work hours, drastically reducing the chance of costly errors occurring.

How Much Can My Company Save on Payroll?

Consider the following small business savings-calculation example:

This means that with 50 employees working 190 hours a month, at an average salary of R 6,000 per month, the monthly payroll bill is expected to be R 300,000 for 9,500 total hours.

 By implementing our time and attendance system, with a potential saving of 4%, you could realise a savings of R 12 000 or account for two additional employees’ worth (or 380 hours) of productivity per month.

Note: The above figures are for illustrative purposes only. Calculated savings are a conservative estimate as hours worked are assumed accurate and hidden payroll costs are not factored in.

How Big is a South African Small Business?

 Small Business Definition: Selected Sectors

Small Business Definition: The Banking Association of South Africa (banking.org.za)

CTSTime and Attendance Software Solutions

Our software program (https://ctstime.co.za/time-and-attendance/#ctstimesoftware) automatically integrates with your biometric scanners, instantly downloads data, calculates hours worked, manages paid leave, and generates automated reports.

3. Business Owner: Cloud-Based Data Analysis

CTSTime and Attendance software helps to identify leave trends and employee tardiness, and this can reduce overtime needs.

Dashboard and Reports

Our systems display your company’s data on a dashboard, giving you a unique overview of employee and departmental findings.

• leave trends
• scanner and employee clocking status
• dashboard widgets
• drill-down functionality

Additionally, analysis software gives management and HR departments valuable insights for better decision-making.

Choose CTST10 Software Package & Save on Hidden Payroll Costs

For small businesses, switching to a cost-effective time and attendance software has significant financial advantages. Eliminate errors and hidden payroll costs and rely on the CTST10 Cloud System to  ease your payday blues. Read more here Payspace makes Payroll a Breeze.

Free up your time and focus on business growth – investment in a system that pays.

Stay up-to-date with CTSTime News 

•  Managing Employee Absenteeism In South Africa
  • Leverage CTSTime & Attendance Systems to Lower Absenteeism Rates
  • Look into what Employee absenteeism is.
  • Explore the term “being non-present”
  • Cost of Employee absenteeism to your business
  • Understand why employee absenteeism happens
  • Leveraging Clocking Systems
  • Reduce Operational Costs
  • Proactive Management