NETtime Solutions

Last updated
nettime solutions
IndustrySoftware
Founded1996 as Vitrix, Inc.
FounderBahan Sadegh
Headquarters Flag of the United States.svg Scottsdale, AZ
Key people
Bahan Sadegh, CEO
Jonathan Weiss, VP of Business Development
Tom Klitzke, CFO [1]
Productsstratustime, netone, nettime
Parent Paychex
Website www.nettimesolutions.com

nettime solutions (originally Vitrix Inc.) is an American software company based in Scottsdale, Arizona. [2] The company produces time and attendance software for businesses. [3] The software is developed to help companies keep track of labor management data in real time. The software is intended to help compliance with local, state, and federal labor laws. [4] In 2010, the company's software as a service handled over $3 billion in payroll. [5]

Contents

History

During the dotcom boom in 1995, Bahan Sadegh decided to start a business that wrote software for biometric devices. Sadegh, was then a senior at Arizona State University. The goal at the time was to help businesses manage their employee's hours, vacation time, sick leave, and pay schedule with web-based software that was simple to use. [6]

In 1996, the company was incorporated in Scottsdale, Arizona as Vitrix Inc. Vitrix (a contraction of "vital biometrics") developed software controlling biometric devices in two forms. The first was time and attendance software, and the second was day care center software that generated a receipt for parents to pick up their children. [6]

Time and attendance soon began generating the majority of the company’s revenue, and in 1997 the company's board decided to focus on developing time and attendance software. In 1998, Vitrix acquired Time America, keeping Time America's name because of the brand's recognizability to consumers. [6]

In 2000, the software NETtime (originally named myVitrix) was developed as software as a service (SaaS). It was the first completely browser-based time and attendance software on the market. The SaaS delivery had originally been conceived in 1998. Because the market in 2000 was not largely familiar with SaaS, the NETtime software was sold as both hosted and on-premises versions. [6]

SaaS began increasing in popularity and usage in the late 2000s, partly because it reduces infrastructure costs. [7] Likewise, NETtime's SaaS software became popular with companies for reducing hardware, not having upfront expenses, being scalable, ease of technical support, and the fact that it works on any operating system. [5]

The business divested Time America in 2007, and nettime solutions became a private company focused on the SaaS NETtime model. In 2008, management decided to sell only the SaaS version. [6]

In 2014, nettime was acquired by Rochester, New York based payroll company, Paychex. [8]

Products

NETtime is a SaaS time and attendance program [9] that is compatible with machines running Windows, OS X and Linux using Internet Explorer, Firefox, Safari, Google Chrome and Opera. [6] NETtime uses "dynamic billing," where organizations are billed only for employee actions that generate a timecard. [10] Companies pay a per-employee-per-month (PEPM) charge to use the system. [6]

Because the system is hosted, no software installation is needed. [5] It is sold as white-labeled software for larger companies. [6] NETtime also is used by professional employer organizations (PEO), payroll providers, and human resource information system (HRIS) companies. [10]

The netone clock developed by nettime solutions uses "true push technology" to connect directly to the NETtime service. The direct communication eliminates the need for a dedicated computer to collect and transmit punches. It provides real-time data collection and reporting as well as employee self-service features. [11]

Impact on time and attendance industry

According to the company, the manual tracking of an employee’s worked, vacation and sick time increases a company’s risk of being out of compliance with labor laws. Violations of wage and hour reporting can leave a company open to legal action from both employees and government agencies, and therefore automated time and attendance programs reduce risk. [5]

nettime solutions has also claimed that additional benefits include increased efficiency in the human resources and payroll departments, increased employee morale, elimination of wage theft from off the clock work or buddy punching, elimination of unearned paid time off, and consistent enforcement of in-company policies. [6]

Affiliations

Related Research Articles

Motorola, Inc. was an American multinational telecommunications company based in Schaumburg, Illinois, United States. After having lost $4.3 billion from 2007 to 2009, the company split into two independent public companies, Motorola Mobility and Motorola Solutions on January 4, 2011. Motorola Solutions is generally considered to be the direct successor to Motorola, Inc., as the reorganization was structured with Motorola Mobility being spun off. Motorola Mobility was acquired by Lenovo in 2014.

Asure Software

Asure Software is a software company. Prior to September 13, 2007, the company was known as Forgent Networks. After rebranding as Asure Software, the company expanded into offering human capital management (HCM) solutions, including payroll, time & attendance, talent management, human resource management, benefits administration and insurance services. It also has a software division, NetSimplicity, which specializes in room scheduling and fixed assets management software.

Paychex American Payment Technology Company

Paychex, Inc. is an American provider of human resource, payroll, and benefits outsourcing services for small- to medium-sized businesses. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 670,000 payroll clients in the U.S. and Europe. In 2019, Paychex ranked in position 700 on the Fortune 500 list of largest corporations by revenue, and the company's revenue for fiscal year 2020 is projected to exceed $4.1 billion.

Time clock

A time clock, sometimes known as a clock card machine or punch clock or time recorder, is a device that records start and end times for hourly employees at a place of business.

Intuit American financial software company

Intuit Inc. is an American business that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi. As of 2019, more than 95% of its revenues and earnings come from its activities within the United States. Intuit's products include the tax preparation application TurboTax, personal finance app Mint and the small business accounting program QuickBooks. Intuit has lobbied extensively against the IRS providing taxpayers with free pre-filled forms, as is the norm in other developed countries.

Visma is a privately held company based in Oslo (Norway). The owners are: Hg and co-investors (48.9%), Cinven (17.1%), Intermediate Capital Group (7.6%) and Montagu (6.2%). The Visma management owns 6.6% of the company. The company provides business software and IT related development and consultancy. The company has 900,000 customers with the vast majority in Northern Europe. It has more than 11,500 employees and the net revenue amounted to NOK 15,027million in 2019.

Employee scheduling software automates the process of creating and maintaining a schedule. Automating the scheduling of employees increases productivity and allows organizations with hourly workforces to re-allocate resources to non-scheduling activities. Such software will usually track vacation time, sick time, compensation time, and alert when there are conflicts. As scheduling data is accumulated over time, it may be extracted for payroll or to analyze past activity. Although employee scheduling software may or may not make optimization decisions, it does manage and coordinate the tasks. Today's employee scheduling software often includes mobile applications. Mobile scheduling further increased scheduling productivity and eliminated inefficient scheduling steps. It may also include functionality including applicant tracking and on-boarding, time and attendance, and automatic limits on overtime. Such functionality can help organizations with issues like employee retention, compliance with labor laws, and other workforce management challenges.

Workday, Inc. American software company

Workday, Inc., is an American on‑demand (cloud-based) financial management and human capital management software vendor. Workday was founded by David Duffield, founder and former CEO of ERP company PeopleSoft, along with former PeopleSoft chief strategist Aneel Bhusri, following Oracle's acquisition of PeopleSoft in 2005.

Kronos Incorporated was an American multinational workforce management and human capital management cloud provider headquartered in Lowell, Massachusetts, United States, which employed more than 6,000 people worldwide.

Interactive Intelligence Software company

Interactive Intelligence was a telecommunications software and cloud computing development company that provided unified business communications solutions for call centers, Voice over IP companies, and business process automation.

Ultimate Software

Ultimate Software was an American multinational technology company that developed and sold UltiPro, a cloud-based human capital management (HCM) software system for businesses. Headquartered in Weston, Florida, the company was founded in 1990 by Scott Scherr, and released its first version of software in 1993. As of the fourth quarter in 2017, Ultimate Software reported total revenues of over $940.7 million. As of 2017, the company employs more than 5,000 people and services 4,100 customers in 160 countries. Ultimate has offices around the USA, Canada, UK, and Singapore. On February 4, 2019, Hellman & Friedman Capital Partners announced it would purchase Ultimate Software Group for $11 billion; the purchase closed on May 3, 2019.

SumTotal Systems American technology company

SumTotal Systems, Inc. is a software company based in Gainesville, Florida that provides human resource management software and services to private and public sector organizations. The company uses multiple cloud-based channels, including software as a service (SaaS), hosted subscription, and premises-based licensure.

Data Management Inc.

TimeClock Plus LLC. (TCP), formally Data Management Inc. (DMI), is an American corporation in San Angelo, Texas. It was founded by Jorge Ellis in 1988 and specializes in business software development, particularly for time and labor management. Its flagship product is TimeClock Plus, a computerized time and attendance system.

AssureSign is an electronic signature software that can be deployed as a Software as a service (SaaS) application or installed on customer premises. Documents are signed using a computer that has an Internet connection.

TimeClock Plus

TCP Software is a cloud-based time and attendance workforce management system founded in 1988 to serve the time tracking needs in the restaurant industry. Developed as a DOS application, the system developed into a Windows application, and ultimately into a web application. The software is available under a perpetual license or a SaaS and serves approximately 30,000 customers with millions of users in both the public and private sectors.

Booker Software

Booker Software, Inc. is a software company headquartered in New York City. Its products are cloud-based management systems for spas and salons.

API Healthcare

API Healthcare is based in Hartford, Wisconsin and is a developer of healthcare-specific workforce management software. The company is best known for providing workforce management solutions to the healthcare industry.

APS Payroll

APS Payroll, also known as Automatic Payroll Systems, is an American company that provides payroll and human resources services for businesses. The company was founded in 1996. The company's headquarters is located in Shreveport, Louisiana.

Gusto (company)

Gusto is a company that provides a cloud-based payroll, benefits, and human resource management software for businesses based in the United States. Gusto handles payments to employees and contractors and also handles electronically the paperwork necessary to help client companies comply with tax, labor, and immigration laws. Gusto is operational in all 50 US states.

A human resources management system (HRMS) or human resources information system (HRIS) or human capital management (HCM) is a form of human resources (HR) software that combines a number of systems and processes to ensure the easy management of human resources, business processes and data. Human resources software is used by businesses to combine a number of necessary HR functions, such as storing employee data, managing payroll, recruitment, benefits administration, time and attendance, employee performance management, and tracking competency and training records.

References

  1. ↑ "nettime solutions". Inc. 500. 2011. Archived from the original on 2011-10-05. Retrieved 2011-10-18.
  2. ↑ "nettime solutions". BusinessWeek . 2011. Archived from the original on 2013-01-18. Retrieved 2011-10-18.
  3. ↑ "nettime solutions". Phoenix Business Journal . Archived from the original on 2012-04-05. Retrieved 2011-10-18.
  4. ↑ Swamy, Mini (September 22, 2011). "Knowledge Survey Highlights Importance of nettime solutions' SaaS Solution". TMCnet. Retrieved 2011-10-18.
  5. 1 2 3 4 Baburajan, Rajani (February 23, 2011). "nettime solutions' SaaS Time and Attendance Solution Handles over $3 Billion Payroll in 2010". Financial Tech Spotlight. Retrieved 2011-10-18.
  6. 1 2 3 4 5 6 7 8 9 "Home". nettime solutions. Retrieved 2011-10-18.
  7. ↑ "Canal Partners Portfolio: NETtime". Canal Partners LLC. Retrieved 2011-10-18.
  8. ↑ "Paychex Acquires Leading Cloud-based Time and Attendance Company nettime solutions". Paychex, Inc. Retrieved 2016-03-07.
  9. ↑ Shukla, Anuradha (April 6, 2010). "nettime solutions Introduces Web Based Solution for iPod". TMCnet. Retrieved 2011-10-18.
  10. 1 2 Dawson, Carolyn (Jul 12, 2011). "nettime solutions Enhances Time and Attendance with Seniority Scheduling". TCMnet. Retrieved 2011-10-18.
  11. ↑ Swamy, Mini (October 12, 2010). "DNS - Schumacher Group Arms Itself in the Wake of Disaster". TCMnet. Retrieved 2011-10-18.
  12. ↑ "nettime solutions". Better Business Bureau . Retrieved 2011-10-18.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.