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Cross Cultural Solutions for International Business
Globalisation, the expansion of intercontinental trade, technological advances and the increase in the number of companies dealing on the international stage have brought about a dramatic change in the frequency, context and means by which...
How Debt Negotiation Can Benefit You
Debt negotiation and settlement can give you a drastic reduction in the amount of debt you owe and allow you to repay your debts in a much shorter time. Resolving your debts is important to your well-being and financial stability. Debt negotiation...
Life Settlement Overview
A “Life Settlement” is a lump sum settlement paid to the owner of a life insurance policy by one of many funding sources in exchange for the ownership of the policy. Never before have non-terminal policyholders been able to receive capital in excess...
Lightening the Load ... Getting Help When You Need It
If there's one immutable fact of life when it comes to this business, it's that there's so much to do but so little time to do it all in. At some point around the one year mark, if you've been even moderately successful in your online business,...
The Ultimate Legal Library To Help You Build Your Business
Early understandings make for the longest relationships. - Alan Dohrmann Don't let legalese get in the way of a good deal. Most contracts are often written with complete disregard for the potential emotional impact of the wording. These are the...
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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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| :: Negotiations Affairs Department :: |
| Information on the issues, history, developments and positions regarding Palestinian-Israeli peace negotiations. |
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