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For many recruitment agencies timesheets are a fundamental cornerstone. Selecting a technology solution to take your business forward can be a difficult decision. No one wants to make a poor decision simply because they didn’t ask enough questions. So here are 5 more to help you find the best fit with your business.
1. What is the best payment model?
Popular payment models used for online software systems include pay-per-user, or paying a fixed subscription fee that allows X number of timesheets to be processed per month. Both types may have additional one off costs for set up, installation, training or branding. The best one for your business may be determined by your business needs; for instance you may have low numbers of high hourly rate workers. This may mean paying per user works better for you. If you have high numbers of lower paid workers it may mean the alternative looks a better deal. Look at your business to see which fits best.
2. How quickly can I recover ROI?
Recovering initial start up costs and ongoing costs is generally very rapid with online software solutions. Much of this stems from the fact that seldom do you need to fund capital purchases for servers or software. You are merely consuming the solution as a service like a utility such as gas or electricity. Another important element in determining investment recovery is that automation squashes the demand for repetitive labour intensive tasks and simply shrinks the cost base of timesheet processing. This enables staff to be redeployed to activities that deliver better value to the business. Investment recovery is linked to the payment model that you choose, so run ROI calculations using cost analyses based on actual payment plans.
3. What do I do if workers do not have computer access at the work location?
A good automated timesheet solution should support alternative means of record entry if computing cannot be used. The best systems will support a range of methods of bringing timesheet data in or taking it out. In this instance a faxback service that enables direct entry to the system by fax machine without the need to chase paper or key data is an excellent solution.
4. Do automated timesheets expose me to data security risks?
From the IT perspective, automated timesheet solutions manage personal data so they should conform to the ISO/IEC 27002 information security standard, a code of practice for information security management. This is an important element in ensuring compliance with the Data Protection Act. It is important to adhere to standard IT best practice for User and Administrator passwords.
5. Do automated timesheets increase the compliance burden?
From the perspective of HR, a good timesheet solution wraps in compliance by integrating contract and document management with the timesheet function. Such functionality may support the use of MS Word templates to form the basis for contracts or other documents. Electronic signing may also be supported and it may be rules based, preventing timesheet submission until e-signed by line managers. It is especially useful if documents such as proof of identification and VAT certificates can also be managed, enabling the maintenance of a complete record for each worker. This is especially useful when the Employment Agency Standards (EAS) inspectorate comes knocking at the door.
Use this in conjunction with our first ‘Five questions to ask when choosing’ blog to help you understand more of the issues involved when choosing an automated timesheet solution.
We are offering owners and senior managers within recruitment agencies the chance to get ahead by improving their knowledge of how automated timesheets realise efficiency that’s visible on the bottom line.
Register now for our free Webinar and see for yourself why paper based timesheets are increasingly becoming obsolete and how automated timesheets can save recruitment agencies up to 70% of back office costs.
Where: An internet connected computer or tablet near you
When: Thursday, October 6, 2011, 11:00 – 11:30 AM BST
Structure: Online seminar including Q&A session
Duration: 30 minutes
Hope to see you there on October 6th. Click this link to register now.
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