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Time and Attendance (Exact-Time)
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EXACT-TIME
is a precise and automated staff time and attendance
management system that simplifies data collection and
payroll calculations. Exact-Time is
easy to use and integrates seamlessely with your existing
payroll software.
With its flexibility
and advanced features, Exact-Time provides
real time access to staff time and attendance information.
No more time cards, no more manual payroll calculations,
less errors and a return on investment within the first
year of implementation.
Exact-Time
is the first step towards full automation of time and
attendance and payroll processing. You will be able
to manage multiple pay rates, multiple collective agreements
and complex payroll calculations in one centralised
database for multiple locations or companies.
With real-time access
to information and approvals, Exact-Time
increases your efficiency and virtually eliminates the
paperwork associated with processing time cards. Integration
with Microsoft Office adds a new dimension to the quality
of your data presentations without incurring customised
programming changes.
Reduced cost of preparing payrolls
Reduced errors in payroll calculationReduced overtime costsPrecise control on employee presence and absence
Reduced cost of payroll personnel
Automation of main payroll tasksAutomation of hourly pay rates (union and nonunion)Redirect payroll personnel to more analytical tasks
Increased employee and supervisor productivity
50% reduction of supervisory administrative tasksLess time spent on approving time cardsLess time spent on gathering information, allowing supervisors to focus on production
Increased decision-making ability
Precise job costing reportsComplete history of pay rate modificationsManagement of multilevel approvalsReal-time access to remaining statutory holiday time owingReal-time access to remaining sick daysReal-time access to remaining vacation time
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Attendance controlAbsenteeismShift management
Fixed schedule
Variable schedule
Rotation shift cycle (2,3,4,6,8...up to 28 weeks)
Individual schedule by employee, group,
department, etc.
History of employee salary and rate changeAutomated salary rate change related to collective
agreementsDaily and weekly overtime managementAbsent and late reasonsAdvance recording of absences, holidays, unpaid vacation
Follow up on user data modificationsAll the possible earning codes
Regular time
Several overtime levels
Evening premium
Night premium
Weekend premium
Unlimited number of operations or work task bonuses
Team chief
High-risk operation bonus
Hazardous exposure bonus
Other earning codes
Vacation
Sick pay
Statutory holiday
Retro pay
Accident
Time bank managementProduction bonus or profit sharingUnlimited number of employees100% accuracy on gross pay calculation
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Preparing payrolls is not an easy task. According to IRS statistics, 33% of employers commit payroll errors that can result in millions of dollars worth of penalties on a yearly basis. Notwithstanding penalties, common errors and wasted productivity can account for important losses that are easily avoided with Exact-Time.
Here are a few examples:
Time spent validating time cards
According to the American Payroll Association, the
manual calculation of time cards can take up to 5 minutes
per employee, per week.
Human error
According to the American Payroll Association, human
error can account for 1 to 8% of the annual
payroll for employers who do not have an automated
time management system. Data entry errors on average
account for 2% of the annual payroll.
Overpayments
According to the American Payroll Association, the
amount of minutes in overpayments due to tardiness,
longer breaks and hasty departures is estimated
between 4 and 5 minutes per week, per employee.
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