Workforce management has become highly regulated and complex and more critical to successful business operations. At the same time, the costs of doing business are on the rise. Bottom line, employers are under pressure to lower costs while improving accountability and employee satisfaction.
Kronos commissioned IDC to conduct an independent ROI analysis of its InTouch time clock. InTouch, in addition to time capture, allows employees to check their hours, schedules, and time-off balances and to request time off right on the device.
This document is based on interviews conducted with Kronos customers. IDC identified how Kronos InTouch is delivering financial benefits in support of workforce management. Companies in the study showed:
- Exceptional ROI. Strong returns were reported. On average, the companies saw a payback in less than five months (after deployment) and an exceptional ROI of 537%.
- Enhanced employee productivity. The most significant benefit was the streamlining of the time capture and tracking process, which generated significant time savings per employee for employees clocking in daily.
- Enhanced productivity associated with time-tracking activities. Employees' managers, payroll, and human resources (HR) saved 75–200 hours per year.
- Reduced cost of operations — overpayments. Organizations enjoyed a variety of benefits by automating and improving the accuracy of time capture, tracking, and management operations, which reduced overpayments.
- Reduced cost of operations — optimized systems. By replacing antiquated systems, InTouch helped reduce costs associated with time capture and tracking.