With a focus on getting the right people assigned to the right jobs, staffing firms are in need of automated solution to cut down on the time and money spent auditing. Both approvers and auditors have an important job to do when it comes to ensuring that there’s no wasted resources and there’s no fraud being committed, which is why there are several benefits to an automated time and expense auditing system for staffing firms. Here are the top benefits that your staffing organization (and your approvers/auditors) will see with automated staffing auditing software.
Reporting/auditing for Staffing AGENCIES
Unique approvals & workflows
Sometimes, an auditing system sounds like a good idea until you have to figure out how to make your organization’s already-established workflow fit into a rigid auditing system. Instead, best-in-industry software will be flexible enough to accommodate the system you’ve already built. That means that the software conforms to your needs, not the other way around.
Expense report Risk categorization
Expense reports can be automatically categorized based on their risk level using color codes. An expense report that has little or few policy errors will be green whereas an expense report with higher-level concerns will be orange or red. This is helpful for approvers and auditors who need to spend more time with higher-level concerns.
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Detailed audit trails
Auditors need a trail of all actions taken by administrators and end users to ensure compliance and to see that all actions taken comply with policy. A detailed audit trail shows what changes have happened in the system and who made those changes, providing the detailed information needed to make sure that no fraud has been committed.
Reporting & policy revision
It’s one thing to have and enforce specific policies for your expense reports and timesheets; it’s another thing to look back on those policies to understand their performance. Reporting and auditing tools can provide valuable data about which policies have been most often failed and which users most often fail which policies. This can give you actionable insights into which expense and timesheet policies might need revision and which users might need more training concerning your policies.
These automated auditing software tools will provide your auditors and approvers with more support in completing their challenging task of protecting the company. Staffing firms will see improved compliance and reduced costs when they automate their auditing system.
Learn more about how DATABASICS Time + Expense for Staffing Firms™ can help your organization.
For more information on the DATABASICS Time & Expense solutions, contact us, or call (800) 599-0434.
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.