We know that your organization is always in search of the best way to make your money go farther. One way is to implement global timesheet and expense report software. Here’s a list of how global time and expense software can make a big difference to your organization’s bottom line.
Global Time And Expense Benefits
Enforce your policies
It can be a difficult job to make sure that company policies are being followed. An automated system does that work for you by taking your inputted policies and running submissions from expense reports and timesheets through the policy engine to determine if rules have been followed.
Time and expense work better together because the systems are very much related. For global organizations, the benefits of combining time and expense can make processes more streamlined overall, especially if the organization is multi-company or multi-ERP.
Less administrative overhead
Managing time and expense is a challenging task because it takes approvers and administrators to oversee the process to ensure that employees get paid/reimbursed and that there's no fraud being commuted. Automated software can assist administrators by preventing the need for re-keying data and simplifying the approval process with just a few buttons.
Application localization & multiple languages
When you have employees and administrators in multiple time zones, your time and expense solution needs to accommodate those different zones. After all, you don't want employees getting notifications at 2 a.m. on one side of the world just because it's 9 a.m. on the other side of the world. Your solution should also accommodate different languages on both the desktop and the mobile version of the software so that all of your employees are getting the most out of the software in the language they understand best.
Related Article: Going Global Means You Need More Than Multilingualism
More detailed Project tracking
Project tracking can also be complex, which is why time and expense software that comes with this feature can make a big difference to the operational efficiency and the bottom line of a global organization. Project tracking gives you data associated with individual projects or activities so that you can make adjustments as you go or you can see the big picture at the end of the project so that you can make better informed decisions about similar projects in the future.
Actionable reporting & analytics
In line with project tracking, reporting and analytics can give you more power and more control over your organization. This is especially true of global organizations that need to see their data from an overall vantage and at a drilled down level. The time and expense solution should be able to allow you to get reports on all of your locations or individual locations, giving you the information you need to run your organization efficiently.
Streamlined Per diem management
Maanaging per diems can be quite the chore. That's because per diems vary so much depending on the project, the location, and the company. Global organizations in particular need per diem management tools that will allow them to adjust per diems based on their requirements. Plus, they need more control over allowances/deductions and a solution that assists with accounting, currency conversion, and tax management. All of this is possible in a global time and expense solution.
These tools will help your global organization to better manage its time and resources while reducing errors and better managing data. Learn more about DATABASICS Time + Expense and DATABASICS' global features.
DATABASICS provides cloud-based, next generation Expense Reporting, P-Card Management, Timesheet & Leave Management, and Invoice Processing automation. Specializing in meeting the most rigorous requirements, DATABASICS offers the highest level of service to its customers around the world.
DATABASICS is relied upon by leading organizations representing all the major sectors of the global economy: financial services, healthcare, manufacturing, research, retail, engineering, non-profits/NGOs, technology, federal contractors, and other sectors.
DATABASICS is headquartered in Reston, VA.