The cost of a time and attendance system ranges from free to, on the high end, $10 per person, per month. Cloud-based systems often have a monthly fee, such as TSheets that charges $8 per month, per employee, in addition to a $20 monthly fee.
However, if you purchase a system that you host on-site, you may pay an upfront fee of $99 and up, but you won't have monthly fees. Instead, you'll pay a license fee for each computer and a setup fee to install and configure your timekeeping system. Setup fees can vary from $100 to $1,000 or more depending on the vendor.
Factors that affect your overall pricing for a time-keeping system include:
- The number of employees (users) you have
- The number of administrators (users) who use the system
- The number of locations you collect time at
- The range of features you need, such as scheduling in addition to timekeeping
- Implementation and setup fees
- Whether or not you want customized reports and interfaces
- Whether or not you need single sign-on or other add-on services
- Annual support fees (included in most online systems)
- Hardware, such as a computer or tablet to serve as your timeclock
Most web-based time and attendance system providers and apps charge on a per-user basis; in other words, there is a charge for each person, employee, manager or administrator who uses the software.
Small and medium businesses often find online cloud-based solutions best for time tracking as they contain built-in rules to calculate state-mandated overtime. They also help businesses comply with labor laws and regulations affecting time off, such as sick leave and FMLA (The Family Leave and Medical Act).
Some time and attendance system providers offer volume discounts based on the number of employees, with per-employee costs going down as your business grows and you hire more employees.
The other cost to consider with time and attendance systems is whether you wish to integrate it with a physical punch-style timeclock. Timeclocks range in price from several hundred dollars up to several thousand dollars depending on features like facial recognition.
If you want to install your timeclock app on a tablet, you'll need to consider the costs of any hardware you'll need.
Two final recommendations regarding price. One, be wary of vendors that don't disclose their pricing on their website. Two, with any time and attendance software or service you choose, start with the base package and then add on as your business needs change.