Time and Attendance Tracking System Announced by Wasp Technologies

PLANO, Texas--(BUSINESS WIRE)--Aug. 23, 2004--

Designed specifically for small businesses, WaspTime(TM) provides an automated timekeeping solution complete with time clock, attendance software and employee badges

“We know that controlling labor costs represents one of the biggest challenges for small companies, yet less than 10 percent of small businesses use an automated time and attendance system. WaspTime will help small businesses save money and improve the way they manage their most precious asset - employee time.”

Forget punched time cards. Throw away those illegible, hand-written time sheets. Now small businesses can automate the tracking of employee time and attendance with WaspTime(TM) from Wasp Technologies. Designed specifically for companies with up to 100 employees, WaspTime can save small businesses between 1 percent and 4 percent of their annual payroll costs. These companies can eliminate manipulation or inaccurate time reporting by employees, while also reducing the mistakes and time payroll personnel spend chasing and verifying timecard data.

WaspTime includes everything needed for immediate installation and use: an automated time clock, attendance software with a license for up to 50 users, 25 employee badges, and all required hardware, cables and power cords. Plus, the unique WaspStep(TM) setup wizard can be used to easily configure the access control software for all employees including hourly, salaried and shift workers.

Customers can choose from three different systems: Basic - a value-oriented system with a bar code clock; Standard - a higher-value version with the added security of a magnetic stripe (magstripe) clock; and Premium - a version with the latest convenience and sophistication of an RFID clock. As companies grow, they can easily expand their system with additional time clocks, software licenses and employee badges. All time clocks are network-enabled with Ethernet connectivity and an optional power-over-Ethernet capability.

"WaspTime builds upon the success and knowledge Wasp Technologies has in the small business market," said Steve Coffman, general manager of Wasp Technologies. "We know that controlling labor costs represents one of the biggest challenges for small companies, yet less than 10 percent of small businesses use an automated time and attendance system. WaspTime will help small businesses save money and improve the way they manage their most precious asset - employee time."

Most time tracking products sold to small companies are actually stripped-down versions of high-end systems, which have been repackaged to target small businesses. In contrast, WaspTime is designed from the ground up for the small business.

WaspTime improves accuracy of employee time tracking and eliminates the potential abuse of a paper or "honor" system. Employees simply swipe their badges, and the system automatically records "punch in/out" arrival, breaks, lunch and departure times. Reports can be generated to quickly provide accurate information about employee time.

For payroll personnel, time and attendance data is automatically collected and compiled for entry into a payroll system. WaspTime will calculate and summarize hours worked including regular, overtime, sick days and vacations. Because WaspTime is automated, payroll personnel will avoid making errors that often occur when manually transposing timecard information. They will also eliminate the need to chase down time and attendance data from employees who are tardy in filling out manual time cards.

WaspTime Time and Attendance is available immediately. The Basic version, which includes a bar code time clock, carries a suggested retail price (SRP) of $549. The Standard version, which includes a magstripe time clock, has an SRP of $649. The Premium version, which includes an RFID time clock, has an SRP of $795. All versions are available through leading distributors Tech Data, Ingram Micro and EMJ (Canada) and can be purchased from value-added resellers, direct marketing retailers such as TigerDirect, PC Connection and CDW, and other leading retailers including Fry's Electronics.

About Wasp Technologies

Wasp Technologies helps small and mid-sized retailers better manage their businesses with proven, easy-to-use solutions. The company offers affordable hardware and software for inventory control, asset management, timekeeping and point-of-sale. Wasp Technologies' packaged solutions are ready to use out of the box, packed with valuable features and backed by lifetime technical support. Based in Plano, Texas, Wasp Technologies employs 100 and has been in business since 1986. To learn more, visit www.waspbarcode.com or call 214-547-4100.