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Automated_Expense_and_Timesheet_Management
| Automated Expense and Timesheet Management
Automated Expense and Timesheet Management
The pressure on companies to become ever 'leaner' and optimize
the business processes is higher than ever. Investors demanding
higher profits, customer's demands for lower prices and greater
quality and regulators demand for better controls and more
transparency force organizations to improve, optimize and
streamline their entire business process. The benefit of
streamlining these processes has an immediate positive impact on
the bottom line. The Improvements within manufacturing,
including just in time production and material management have
dramatically improved the bottom line.
While the focus on optimizing the logistic and production
processes remains strong, optimization of administrative costs
need similar attention. Companies actually realize productivity
levels in their administrative sections today that are lower
than before the introduction of IT solutions. The higher use of
IT systems, while improving the amount and availability of
information, is not being strategically used to lower costs
associated with the administrative function.
The vision of a 'Real Time Enterprise' allows companies to
instantly utilize available information from within and from
outside the organization to enable management to act instead of
react to changing conditions. To become ever leaner and more
flexible, companies need to optimize, streamline and automate
business processes throughout the organization including their
administrative functions. Many organizations today are
structured as project offices and use project portfolio
management to run their business units. This approach has
unleashed unknown resources and optimization capabilities never
before realized. Using this project approach allows companies to
implement a set of proven controls and best practices to reap
the benefits of streamlined processes.
One of the control mechanisms to be implemented is automated
timesheet and expense management. Automated, IT based timesheet
and expense management will allow for efficient, optimized and
timely reporting of project resource allocation and spending.
Additionally, it increases the accuracy of the collected data.
In light of the pressure coming from government and regulatory
agencies, e.g. Sarbanes-Oxley compliance, this would solve an
important compliance issue for a company.
A study performed by the Aberdeen Group concludes that expense
management automation will reduce the cost per expense report
from $48 to $18
(http://www.aberdeen.com/2001/research/07020007.asp). This
savings alone would justify an investment into automating the
timesheet and expense management processes within an
organization.
Additional benefits of Timesheet and Expense Management
automation: * Faster reimbursement for employees leading to
improved morale. * Reduction of clarification requests back to
the submitter as information is instantly available for
everybody in one location. * Improved data availability and
higher accuracy of information about expenses allows stronger
positions, price and service negotiations with vendors. *
Optimized and streamlined controlling as a result of higher
accuracy and timeliness of information.
Gekima Solutions, LLC specializes in the optimization and
automation of administrative business processes. bizTE is
gekima's solution to automating the timesheet and expense
management processes of organizations large and small. With
bizTE being instantly available over the internet, we reduced
the need for costly deployment. It's easy to use web based
interface ensures a reduced training time letting customers
instantly reap the benefits of automated timesheet and expense
management.
Flexible configuration of the solution itself and the
adaptability of its underlying workflow system allow for
streamlined processing of the timesheets and expense reports for
organizations of any size. The built-in budget controls warn the
project managers when project members are to overrun their time
allocations or expense budgets. Here are some highlights that
bizTE is delivering to you:
* Workflow based approval processes that can be configured to
your needs * Easy-to-use web interface that needs no
installation on the desktop PC * Attachment handling for
documents, receipts, and notes for each line item * Budget
control for each configured project in regards to the hours and
expenses spent * Multi-Currency handling for expenses *
Extensive Reporting capabilities
Visit us at www.gekima.com or www.bizte.com, or contact us
info@gekima.com Copyright (c) 2003 - 2004, gekima Solutions
LLC., All Rights Reserved.
About the author:
Gerd Schmidt is co-founder of gekima Solutions LLC and has over
15 years of experience in software and business consulting.
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