When you decide to digitize your time tracking, the first question that often arises is: how much does a time tracking system cost? Several factors influence the final price, ranging from your company size to the type of working hours you need to manage. Let’s break it down.
The number of employees:
The larger your workforce, the more comprehensive your system needs to be. Larger teams often require advanced features, such as managing multiple work sites, flexible shifts, or detailed reporting. These additional capabilities increase the overall cost of the system.
The types of working hours to manage:
A company with standard hours won’t need the same solution as one with flexible schedules, shift work, night shifts, or compensatory rest periods. The more complex your working time structure, the more powerful your system will need to be, impacting the price.
The installation cost:
For physical time clocks, installation by a technician can add to the expense. This may include configuring the terminal, connecting it to your network, and training your HR staff.
The cost of the management software:
The data collected by the time clock must be processed. This requires a software platform, typically cloud-based or installed locally. Subscription fees, licensing, and updates all add to the total cost.
The initial purchase price is only part of the total cost of ownership. Consider:
Maintenance and repairs:
If the hardware malfunctions, you’ll need to cover repair costs. Some providers offer maintenance contracts, while others charge per intervention.
Training employees:
Even the most intuitive system requires basic training for both employees and HR staff. This training, whether delivered by the provider or internally, represents a cost in time and resources.
Consumables:
Depending on the system chosen, physical badges, cards, or paper time sheets might be required, especially if you opt for a traditional time clock. These consumables generate recurring costs.
To avoid unnecessary expenses, start by clearly defining your needs:
Once your requirements are clear, request quotes from several vendors. Comparing quotes allows you to match the solution to your budget and ensures you pay only for what you truly need.
If you’re looking for a cost-efficient and easy-to-deploy solution, app-based time tracking like Shyfter can be particularly attractive. With Shyfter, there’s no need for hardware installation or physical maintenance. Employees download the app directly onto their smartphones or tablets, and your HR team can configure the system in just a few minutes.
This digital approach reduces upfront costs, eliminates consumables, and offers immediate access to advanced features, all within a clear subscription model.
The cost of a time tracking system ultimately depends on your business size, working hours structure, and the features you need. But by comparing options and choosing scalable solutions like Shyfter, you can keep costs under control while still ensuring full compliance with legal obligations.
