Industry Software Website nettimesolutions.com Founded 1996 | Headquarters Scottsdale, AZ Founder Bahan Sadegh | |
Key people Bahan Sadegh, CEOJonathan Weiss, VP of Business DevelopmentTom Klitzke, CFO Products stratustime, netone, nettime | ||
nettime solutions (originally Vitrix Inc.) is an American software company based in Scottsdale, Arizona. The company produces time and attendance software for national and international businesses. The software is developed to help companies keep track of labor management data in real time, which in turn is intended to aid workforce decisions. The software is also intended to help companies maintain their compliance with local, state, and federal labor laws. In 2010, the company's SaaS software handled over $3 billion in payroll.
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Founding
During the dotcom boom in 1995, Bahan Sadegh decided to start a business that wrote software for biometric devices. Sadegh, who was then a senior at Arizona State University, became the Founder and Chief Executive Officer of the company. The stated 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.
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.
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.
Introduction of SaaS
In 2000, the software program NETtime (originally named myVitrix) was developed as a software as a service (SaaS) solution. 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.
SaaS began increasing in popularity and usage in the late 2000s, partly because it reduces infrastructure costs. 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.
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.
Acquisition by Paychex
In 2014, nettime was acquired by Rochester, NY based payroll company, Paychex.
SaaS Solution
NETtime is a SaaS time and attendance program that is compatible with machines running Windows, OS X and Linux using Internet Explorer, Firefox, Safari, Google Chrome and Opera. The company calls it a "complete workforce management solution" that automates time and attendance as well as job costing, attendance tracking, project tracking, data collection, labor scheduling and benefit accruals.
NETtime uses "dynamic billing," where organizations are billed only for employee actions that generate a timecard. Companies pay a per-employee-per-month (PEPM) charge to use the system, which makes the SaaS time and attendance software a scalable solution as the number of employees varies.
Because the system is hosted, no software installation is needed. It is sold as white-labeled software for larger companies who want to use the time and attendance solution as their own. NETtime also is used by professional employer organizations (PEO), payroll providers, and human resource information system (HRIS) companies.
netone
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.
Automated T&A Software
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.
nettime solutions has also stated 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.