Time and Benefit Reporting

Time reporting can be an expense sinkhole for many banks. It is labor intensive and, often, error-ridden. Many regional banks still rely on paper processing – their employees fill out handwritten time cards each pay period and hand those cards to managers, the managers review them and they or HR type the data from the timecards into a spreadsheet. HR then uploads that spreadsheet to the payroll system. As an example, a bank with 21 branches spent over $82,000 each year processing their payroll in this fashion.

The Benefits

The Banker’s Intranet significantly reduces banks’ time tracking costs. The System:

• Enforces payroll rules regarding overtime, holidays, vacations and other subject matter the bank may set.
• Eliminates compensation errors.
• Reduces the time managers and HR staff spend tracking and correcting errors.
• Decreases the time and expense of manual time accounting.
• Reduces distribution costs and follow-up calls by providing online pay stubs and benefit reports.

The Features

Time Reporting provides all the necessary time reporting tools, including:

For Employees

• Easy-To-Use Interface – The System is designed so that it is very easy to understand and use. Simple, clear data entry tools make it faster for employees to enter their time into The Banker’s Intranet than writing the time down on a time card. This simplicity improves compliance, as well as reduces overhead.
• Time Entry Shortcuts – Shortcuts allow users who maintain a regular schedule to fill out their time cards in less than a minute.
• Daily Or Weekly Views – These views allow users to work in the style that is easiest for them.
• Pay Stub Review – When payroll is complete, employees can view their pay stubs online. Employees can review their pay stubs as far back as the bank chooses to store them.
• Benefit Review – Employees can also view their pay-related benefits online. They no longer need to call HR to check their current benefits.

For Managers

• Quick Review and Approval Processing – The System queues up the data from all the manager’s direct reports, highlights any errors and potential problems and allows the manager to approve, reject or question any item on these reports with just the click of the mouse.
• Automatic Workflow Management – After the manager reviews and approves his team’s records, the System routes these files to all others in the line of command who need to review and approve these records. The System eliminates the need to print forms and send them via interoffice mail or email.
• Incomplete Timesheet Alerts – Managers can quickly identify who is falling behind in their time accounting and get them back on track.
• Timesheet Override – If an employee is sick or on vacation, managers can collect whatever data he/she has already entered into his/her time report, complete the report for the employee and send it on to HR. The System notes when such an override was necessary and later reminds the employee to verify the accuracy of the data.
• Time Accounting for Projects – The System allows authorized users to set-up time accounts. Managers can then track how much time employees are devoting to their various projects and functions.
• Sophisticated Reporting – The System provides a variety of management reports, allowing managers to quickly assess employee performance and deployment.

For Human Resources Personnel

• Rules System – HR can leverage our rule set and/or create their own. The System will then automatically apply these rules to each employee’s report, identify any discrepancies or potential problems and ask either the employee or the manager to review these items.
• Accountability and A Clear Paper Trail – The System ensures that every employee is reminded to complete his/her timesheet. It enforces payroll rules. It ensures that all those who should review timesheets have done so.
• Integration with Payroll Processing Systems – The System allows HR to upload data directly to their payroll processing system, eliminating the time and potential errors of re-keying the data.