ISO

Certified Payroll Reports

When Compliance Matters

What's New

  • Save on Time
    Reporting processes that traditionally took days from submission to final review can now be accomplished in minutes.  Within secure and encrypted databases and architecture, MyLCM services can replace labor and paper-intensive compliance processes for local, state and federal Davis-Bacon prevailing wage laws or Project Labor Agreements (PLAs).
     Manual vs. Software Process
     
  • Save on Costs
    The MyLCM system will reduce the amount of costs required to perform labor compliance monitoring tasks across all major areas. The table below highlights the estimated cost savings and return on investment (ROI) when utilizing the MyLCM system.
    Assumed CostManual Process (Hrs)MyLCM® (Hrs)
    Certified Payroll Report--Review Per Contractor, Assumptions: 20 employees per CPR and 100% review for prevailing wage123
    Handling Time (printing, mailing, delivery, storing, retrieving)240
    Reporting Hours243
    TOTAL HOURS WORKED PER YEAR
    606
    Estimated Hourly Rate$30.00$60.00
    Labor Cost/Year per CPR (Hourly Rate x Hours per Year)$1,800.00$360.00
    Estimated Contractors Processing CPRs Yearly Labor Costs 100 Contracts (Yearly Labor x Number of Contracts)$180,000.00$36,000.00
    Estimated Yearly Postage (24,000 CPRs x $0.48)$11,520.000
    ACHIEVABLE YEARLY SAVINGS$155,520.00
      

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