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CEOCFO CEOCFO Monthly Analyst |
Capturing Time and
Technology Time
America, Inc.
Interview
conducted by: Thomas Bednarik
has served as President, Chief Executive Officer of the Company and as a Director since
February 2000. Mr. Bednarik brings more than 28 years of executive and sales management
experience in the information technology industry. He has served in various executive
management roles, including CEO, President, and Vice President, with firms such as Idea
Corporation, Decision Data, Alcatel Information Systems, and ITT Corporation. Ceocfointerviews:
I know it is a B-to-B business that you have, but my readers may not know everything. If you can, please explain what this company is
doing. Mr. Bednarik: Time
America is a software development company that provides proprietary time and attendance
software solutions. A sale may also include
various data collection devices and professional services, such as implementation and
training. The software that we develop is
generically called Time and Attendance Software or Workforce Management Software. Basically the software allows the user to gather
employee data such as when he or she clocks in or out, benefit accruals, electronic
timesheets, etc. Along with the software,
Time America sells data collection devices that take the place of mechanical time clocks.
The data collection devices include magnetic or barcode badge readers, biometric hand
readers, and Web-enabled devices. An
employees’ time can be recorded and provided to his or her supervisor for approval
and then inputted into a payroll system. Our
clients look at our product as the front end of a payroll system, where the time and
attendance data is gathered and applied against a rules engine in our software, which
gathers punches and applies logic based on specific company rules. For instance, if someone punches in early, the
rules engine would decide how to handle that time based on that particular company’s
policy. Once the data is run through the
program, it can be exported to a variety of payroll processors and Human Resources
packages. The purpose of our product offering
is to capture accurate time and attendance data and record it in a timely fashion. Ceocfointerviews:
That can save companies millions of dollars every year depending on how it’s
utilized. Mr.
Bednarik: It
can be a significant number, which is substantiated by the fact the average Return On
Investment for our solution is less than six months. Ceocfointerviews:
Are you targeting all size companies?
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