The cost of a time and attendance management system ranges from free to around $ 20 per person per month. Some cloud-based systems charge an additional monthly base fee; for example, QuickBooks Time charges $ 20 per month in addition to $ 8 per employee per month.
However, if you buy a system that you host on-premises, you can pay an upfront fee of $ 99 or more, but you won’t have a monthly fee. Instead, you’ll pay a license fee for each computer and an installation fee to install and configure your timing system. Installation costs range from $ 100 to $ 1,000 or even more, depending on the vendor.
These factors can affect your overall price for a timing system:
- The number of employees (users) you have
- The number of administrators who use the system
- The number of locations where you collect time
- The range of features, such as scheduling in addition to timing
- Implementation and installation costs
- Whether you want custom reports and interfaces
- Whether you need single sign-on or other add-ons
- Annual support fees (included in most online systems)
- Hardware, such as a computer or tablet to serve as a clock
Most providers of web-based timekeeping systems and applications charge per user – each person, employee, manager, or administrator who uses the software.
Small and midsize businesses often find cloud-based solutions best suited to time tracking because they have built-in rules for calculating state-imposed overtime. They also help companies comply with labor laws and regulations regarding leave, such as the Family and Medical Leave Act.
Some time and attendance management system vendors offer volume discounts, in which costs per employee decrease with more employees. Other providers offer discounts for annual subscribers.
Another cost to consider is whether you want to integrate the time and attendance management system with a physical pointer-type clock. The price of clocks ranges from several hundred dollars to several thousand dollars, depending on features like facial recognition, thermal sensors and fingerprint scanners.
We have one final price recommendation: with any time and attendance management software or service you choose, start with the base plan, then add it as your business needs change.