Mitrefinch Time Allocation System (TAS)
Statistics from the U.S. Department of Labor reveal labor costs to be one of the largest expenses that North American companies must absorb. Businesses operating within the retail sector lose roughly 20 percent of their total revenue to labor costs. Those in food and hospitality sectors see 30 percent of their total revenue go towards labor costs.
The Department also estimates that for businesses in certain sectors such as construction, labor costs are second only to the costs of real estate. But you already know that, don’t you? Labor costs are indeed, a major expense.
However, did you know that thousands of businesses use best-in-class Time Allocation Systems from Mitrefinch to make swift and informed decisions about workforce and production priorities?
Mitrefinch Time Allocation Systems (TAS) are designed to help you track jobs and manage performance accurately.
With the Mitrefinch Time Allocation System you can:
• Plan tasks (both daily and weekly) across different cost centers
• Get accurate, real-time data from multiple cost centers (employees can clock in and out using their PC, PDA, mobile phone, tablet or a specific terminal for biometric fingerprinting or card fob)
• Calculate production costs accurately, thereby reducing errors in client quotations and billing
• Compare tasks and job costs to optimize performance and costing
• Reduce operational costs through effective labor planning and efficient overtime control
• Track current projects by quantity, cost, or hours
• Simply optimize the management accounting function
• Gather additional insights from the employee time, attendance, and labor costing reports, which can be displayed in multiple easy-to-comprehend forms such as graphs, planners or custom reports.
Why choose the Mitrefinch Time Allocation System
The key features and benefits of Mitrefinch Labor Costing system that make life easy for business leaders include:
Easy Setup and Use: You can use the setup wizard and supporting literature to get started with TAS in minutes. Choose from an array of text and diagrammatic display options as well as user-defined colors to customize the system as per your needs and preferences.
Diverse Functionality: The system integrates several apps and modules to streamline workforce tracking and job costing across different departments and functions. These include:
- Future Work Planner, which you can use to track daily and weekly tasks at different cost centers and using different budget considerations.
- Project Analysis Module, which tracks multiple projects and sub-projects by cost, quantity or hours. It displays items that go over the budget or estimate in a grid or graph form highlighted in red.
The system supports multiple data collection points (including wall-mounted terminals, or PC, PDA, and mobile options) and allows remote employees to register their total time of travel for payroll purposes as well. This allows for easy compliance of your organization with work time regulations.
Detailed Work Reports: The system uses a custom report generator to create and share reports full of meaning management information. You can choose to view the information as graphs or planners. You can also set up categories according to type (say cost center, job, or department) or quantity (say number of products manufactured) to get detailed reports.
You can get detailed reports with hourly breakdown summary (that is, the total hours of basic and overtime work clocked in by employees) and hourly bands breakdown (that is, when exactly did employees work from the start of their shift to the end). Reports also show information about absence hours.
Ready to transform how your business plans, costs, and benefits from jobs? Come, talk to us today!