How much does Excel cost for your scheduling?
Most retail managers underestimate the true cost of Excel management. Here is a calculator quantifying 3 major losses: manager time, paid clocking errors, clocking fraud.
Hidden annual cost of Excel-based management
- Time spent on scheduling/payroll$29,610
- Paid clocking errors$84,000
- Estimated clocking fraud$25,200
- Total yearly loss$138,810
With Squadra ($29 x 12)$348
Estimated yearly savings$138,462
Assumptions: 6h/week per manager on scheduling and payroll. 5% clocking errors. 1.5% estimated fraud (hours not worked but paid).
Methodology
The calculation starts from three assumptions, not a study: 6 hours per week per manager on scheduling and payroll, 5% clocking errors, 1.5% fraud (clocking in for a colleague, a forgotten clock-out). These are orders of magnitude, not measurements. Adjust each one to your reality, that is the figure that matters.
Go further: our study on the hidden cost of Excel and the comparison Excel or software.