Bundy Clocks versus Time Clocks
While there certainly is a difference between these two products the names are now used to describe the same products.
The Bundy clock was invented by William Bundy in the late 1880’s and was a mechanical time recorder which, in basic design has survived until very recent times although now most models are designed and manufactured in China and are a fusion of electronics and mechanical systems. These clocks use a printer mechanism and card to stamp employee attendance times and are capable of some time related calculations.
Time clocks by comparison is the term generally applied to time recording devices which are entirely electronic and either require additional software to collect the employee attendance times and interpret them according to the pay rules for your employees. Some of the more advanced time clocks use embedded software which can be accessed using your web browser.
Electronic time clocks are far more useful than Bundy clocks as they have no moving parts to wear out, no ongoing consumables such as cards and ink ribbons and they are generally capable of more complex award interpretation. They are however, often more expensive in the initial purchase price. This additional up front purchase price is usually quickly recovered through the efficiency improvements
For most businesses the cost difference between the two technologies is not significant and certainly not enough to warrant opting for a less flexible technology. It is generally estimate that introducing a time clock system into your business will save your company the cost of the investment in just a few months through improved processes, reduction in time theft and the elimination of calculation errors.
Still, it is not unusual to find many small businesses choosing inferior time clock technologies only to find that the product is unreliable or difficult to use or unsupported. Your employee time clock should be viewed as an investment which will give you a significant return and its cost therefor can be much less of a factor.
In this example a typical company with 20 employees calculates that time theft, extended payroll preparation times and payroll calculation errors are costing the company $250 per week. They have two time clock options to choose from. Option 1 costs $650 ( from the internet) and Option 2 costs $1,950 but is from a reputable supplier.
After 12 months the net saving including investment in the time clock will be $250 X 52 – Time Clock Price. So in the case of the $650 time clock the net saving will be $12,350 and the net savings from the $1,950 time clock will be $11,050.
What this quick calculation fails to consider of course is the cheap time clock will be much more likely to present you with problems in the installation and setup and reliability because quite simply you cannot expect quality, good pricing and responsive support in one products…it is in fact a commercial impossibility
Seriously, why would you bother choosing a inferior clock and risk not achieving any savings when the returns are so good and easily justify investment in a better product… it’s never worth the hassle.