Close Tab

Fast Facts

Time & Attendance Fast Facts
  • Founded in 1987

  • Headquartered in Scottsdale Arizona, USA

  • Over 200 Resellers worldwide

  • Purchased by Synel Industries in January 2007

  • Over 30,000 systems sold

  • First company to launch a 100% web based hosted time and attendance system

  • The Deloitte Technology Fast 500 named Time Spot one of the fastest growing technology companies in North America (2003 and 2004)

  • Manufactures the 700 series line of data collection terminal

  • Services clients from 1 to 20,000 employees

  • Implementing a time and attendance system can save most employers between 2-5 percent of their total payroll in improved efficiencies and staff reductions
  • The American Payroll Association along with information from numerous studies has confirmed the substantial savings from using automated time and attendance systems
  • "Return On Investment" stem from a variety of areas, including paper reduction, elimination of ‘time theft’ (hours paid but not worked), managing leave liability, controlling overtime, fewer errors due to automated calculations, eliminating duplicate data entry, and elimination of fines and lawsuits
  • Time Spot's XactTime system can be deployed enterprise-wide to both hourly and salaried employees via a web-browser to give them the capability to report project hours, report absences, request time off, and perform self service inquiries among other things
  • The best advice is that before you decide what a system should do for your organization; speak to those who are knowledgeable about time and attendance systems and what they can do for you
  • Payroll is generally the single largest expense of most employers
  • With a time and attendance system the process of calculating pay, such as overtime, is automated
  • Automated time and attendance systems remove the subjectivity and potential for error from the process that is present in a manual system
  • Time Spot's time and attendance systems also have some type of manager review and approval mechanism