Calculate the Cost of Time Tracking Software

How much does time tracking software cost? When it comes to absentee management, as a typical rule of thumb, to acquire correct pricing of employee time tracking software you can multiple the number of employees by about $110-$150, which generally is an all inclusive solution complete with everything your business needs in a time and attendance system. As explained below it should be noted that there are a number of features and options that can drive the cost up or down.

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How much should a business pay for employee time management software? When it is a key piece of your business which leads to more efficient and effective workplace, how much should you invest? While the peace of mind cannot exactly be bought, at least the equipment, physical or virtual that brings this can immediately be purchased.

In settling for employee time tracking software, consider the following and how they will impact your cost:

  1. The Cost of software features that match your business.

Time Tracking Software ReportWhile every time management software sells mostly features of tracking, employee scheduling, and absence management, the key is get the right price for features that are needed in your workplace. A smaller business may be in need of a mobile system counterpart as compared to a bigger business which still follows the traditional employee attendance management. Most of the features come in bundles while others are can be taken as specialized services.

  1. Trial period and renewal offers when buying

Take advantage of the trial periods being offered by the providers. This allows you to analyze the process and evaluate if the system works for your business. There may be basic to premium package which can be adjusted over time. Consider category inclusion which is also proportionate with the number of employees in a company.

There are also management software, which require number of months for initial signing. If you are unsure of the facilities you need, better to refer to the basic package inclusions or aim for software which allows you to renew or cancel in a monthly basis, or less.

Signing discounts and bonuses are also common among software providers. Hence, take note of the offers and renewal periods.

  1. Quality software = investment

Consider buying quality software as a lifetime investment for your business. Providers offer basic time management systems starting $10/monthly for a small-scale business, which allows a manager, administrator, and 2-3 employees to manage and track. For a medium-sized to large-scale businesses, management can reach up to 100$ to $125.

Here is the price range of the best and high quality workforce management solutions in the market today. They are divided based on the number of employees in a company.

For 1-25 Employees – $399.00 to $3,500.00

The $399 time and attendance system includes time clock, proximity cards, software and warranty while the more expensive system ($3500) has the full package – from hardware to service.

For 26-50 Employees – minimum of $1,000.00

The $1,000.00 – $1,800.00 time keeping software usually go together with free technical support, licensing and upgrades.

For 500-1000 Employees – $10,000.00 plus

These workforce management solutions cover five or more locations and the hardware provided are already installed with accounting software.

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