San Mateo, CA (Marketwire) November 15, 2011 – Replicon Inc. today introduced CloudClock, a first-of-its-kind, 100 percent cloud-based time clock. When combined with Replicon’s Web-based time and attendance application, the CloudClock provides a unified cloud solution that eliminates the hassles and overwhelming expense of managing traditional time clocks.
The Replicon CloudClock helps businesses that have traditionally been unable to leverage cloud-based solutions, or do not have the time and resources to evaluate complex and expensive traditional time clock alternatives. The Replicon CloudClock brings the power of cloud computing to the time clock, allowing employers to instantly validate time clock punches, ensure that time and attendance records are accurate and report compliance at a moment’s notice. Available for a flat price of $99 per clock, Replicon also provides continuously monitoring of the CloudClocks, eliminating the hassles, additional cost and downtime associated with repairs, maintenance and forklift upgrades. These features are vital to businesses that today are operating on slim margins and are dealing with weekly overtime hours that have nearly doubled in the past two years, according to Replicon research.
100 Percent Cloud-Based Solution Saves Money, Simplifies Time Tracking and Increases Compliance
The Replicon CloudClock simplifies the process of collecting of time and attendance data from all employees, whether at one location or multiple remote ones, and delivers the information in real-time to Replicon’s centralized, easy-to-use cloud-based application. The Replicon CloudClock offers a wide variety of benefits over traditional time clock solutions, including:
- Simple, Elegant Interface: The Replicon CloudClock offers a large, full-color multi-touch screen with a built-in camera that captures employee punches. It can create a photo audit trail to discourage “buddy punches,” in which employees fraudulently punch in for a co-worker.
- Easy Supervision: Managers can review, adjust and approve employees’ hours in real-time, improving compliance and ensuring greater payroll accuracy. A single Replicon CloudClock can support all types of employees, including those with different shifts, and longer or shorter work hours.
- Hassle-Free, Automatic Upgrades: Free upgrades are done remotely by Replicon, eliminating the downtime and cost associated with having to forklift out and dispose of old time clocks and install new devices.
- Maintenance-Free: Replicon monitors the clocks 24×7, 365 days a year to immediately address any problems. As a result, users do not need to purchase costly maintenance contracts and suffer downtime that is common with traditional time clock solutions.
- Go Live Fast: The Replicon CloudClock can be installed and running in just days, as opposed to months, because it operates wirelessly and does not require any additional costly, proprietary wiring. It also is easy to set-up because administrators can control functionality of all time clocks, regardless of location, via Web-based configuration screens.
- Simple Pricing: For $99 per month per clock, companies receive the CloudClock device, monitoring, maintenance and upgrades. No longer will businesses be forced to pay up to $12,000 for their hardware solutions, not to mention maintenance contracts fees that can add another 20 percent to the total cost.
“Today many companies are supplementing their workforce with additional hourly employees, requiring more overtime from existing employees and running multiple shifts each day, which makes it difficult to effectively manage time and attendance,” said Lakshmi Raj, co-founder and co-CEO of Replicon. “By leveraging the power of the cloud for time tracking with its easy-to-use and fully integrated CloudClock, Replicon is helping businesses of all sizes to collect employee time in a hassle-free manner, improve compliance and stay on budget.”
Replicon CloudClock’s advanced capabilities help businesses address the challenges and costs of maintaining traditional punch clocks and managing their workforce. In fact, Replicon research shows that with its cloud-based solution, compliance for submitting completed employee timesheets increased to 85 percent within three months. Additionally, payroll error rates declined from as high as eight percent to 1.9 percent within one year of implementing Replicon.
Replicon Productivity Index Data Shows Need for More Accurate Time and Attendance Solution
Strained by the sluggish economy, many businesses are hesitant to make new hires and, instead, seem to be relying on existing employees to work more overtime hours. According to the latest Replicon Productivity Index, which examined data from nearly 1,000 participating companies over the past two years, weekly overtime hours have increased 58 percent. Now more than ever, it is critical that companies have real-time visibility into the hours worked to ensure they are managing employee time efficiently and are paying them accurately too.
The Replicon Productivity Index also revealed that while employees are averaging more overtime hours, the average number of hours per week has decreased nearly 14 percent in the past two years — from 40.2 weekly hours in 2009 to 34.6 weekly hours in 2011 to date. Additionally, employees are taking more vacation time this year. Based on Index data, employees are on track to greatly outpace the number of vacation days taken year-over-year from 12 vacation days on average per year in 2010 to nearly 15 days off in 2011.
About The Replicon Productivity Index
The Replicon Productivity Index gathered data from over 3,000 users at nearly 1,000 companies from January 2009 through October 2011.