It would be fair to say in Australia we are at a point in time where we need to make very important decisions for our business's to survive through these current tough economic times.

As the economy shrinks cash flow means everything. What can cause cash flow issues in your business?

• Customers (debtors) Payments go from 30 to 60 days or 90 days or more
• Suppliers (creditors) payments increase as debtors payments slow
  
• Holding to much Stock (poor stock control)
  
• Over selling (selling more than you are collecting in payments from existing customers)

• Start asking for part payment or payment in advance
• Stop purchasing everything and anything only purchase critical supplies
• Do a stock take and lower stock levels
• Monitor closely new sales
  

• Employees with less productivity can start to arrive late and leave early
• Employees less motivated will start to take more sick days
  
• Employees can clock each other in and out
• Employees can fill in each others time sheets

Click here to join our weekly online "live" demonstration and watch from your PC how TNA5 Time and Attendance software with electronic time clocks or electronic time sheets can help you to better measure and control your workforce.

 Example of Cost Savings

A small business with 30 employees with an average wage of $35,000 per year will have a payroll of  $1,050,00. If you could save 2% off your payroll costs you could save $21,000. This could be the difference between surviving this downturn we are currently experiencing. 

Business on average will save between 1% and 5% off total employee costs by moving from a manual bundy clock, manual time sheet system or any other manual employee time collection system when moving to an electronic time and attendance employee management system.