Introducing ProLiant’s Instant LaborCost Solution

Labor cost management is a new trend in the business world that is paying dividends for businesses around the globe. Through the use of an Instant labor cost solution, businesses are able to now control decision-making, cost control, and effective resource allocation, helping businesses optimize their operations and foster growth.

In this blog, we will discuss the significance of instant labor costs and their impact on a business's overall health and take a look at ProLiant’s newest solution, Instant LaborCost.

Real-Time Decision Making

Having an Instant Labor Cost solution in place allows businesses to monitor labor costs in real-time, providing business owners and managers with valuable insights. This allows for quick evaluations of each employee's time and productivity, enabling informed decisions about staffing needs and resource allocation.

Cost Control

Managing labor costs is vital for maintaining a healthy bottom line. Instant labor cost solutions help identify areas of excessive spending or potential cost-saving opportunities, allowing businesses to take proactive measures to control labor expenses. Whether evaluating overtime hours or monitoring labor distribution, having instant access to labor cost data empowers businesses to implement necessary adjustments and remain cost-effective.

Efficient Resource Allocation

Instant labor cost information helps understand how resources are being distributed across various departments or projects. This allows business owners to make informed decisions about reallocating personnel, assigning tasks, or rearranging work schedules to optimize productivity and efficiency.

Compliance Labor Laws

Labor laws in many countries regulate working hours, overtime payments, and employee benefits. Therefore, accurately tracking labor costs is critical for businesses. Having an Instant Labor Cost solutions allows business owners to ensure compliance with these legal requirements, avoid potential penalties, and maintain a positive work environment.

Introducing ProLiant's Instant LaborCost Solution

ProLiant’s newest solution, Instant LaborCost, is a real-time labor costing product built on top of ReadyPay Today solution. It uses your point of sale (POS) or back office integrations to pull labor data, perform gross to net calculations, and generate journal entries for your accounting platform on a weekly, daily, or shift level.

By utilizing ProLiant’s Instant LaborCost solution, you’ll take advantage of these benefits:

1. Perform monthly financials with a bi-weekly pay period by importing hours worked for specific days.
2. Close out the month and track costs with accrual-based General Ledger accounts. 
3. Virtually Eliminate Labor Cost Accrual true-ups. 
4. Automate data flows for computations and transfers.
5. Customize calculation frequency for timely results.

Get Started Today

Instant labor cost calculation and analysis play a pivotal role in successful business management. If you’re ready to empower your decision-makers with valuable insights, automated data flow, and ensuring compliance with labor laws, request a meeting today and discover all the benefits of ProLiant’s new Instant LaborCost solution.