WorkPlace Expense | Paramount Technologies

WORKPLACE EXPENSE

Increase employee productivity and streamline customer billing
in a secured environment

Designed to remove paperwork and streamline business processes for T&E and project-based expense reporting, WorkPlace Expense integrates with your financial management software and gives employees an easy way to enter expenses and managers an easy way to approve them. WorkPlace Expense supports the electronic submission of expense reports, automatic routing, and electronic approvals of individual line-item expenses, all through an intuitive Web browser-based interface.

Benefits

	Manual Expense Processing	Automated Expense Processing
Average cost to process an expense report	$45	$5 or less
Average time to settlement	30 to 90 days	3 days or less

- Source: Aberdeen Group

Powerful User Expense Entry

WorkPlace Expense offers a user-friendly, web-based way to submit expense sheets from any location. Employees can enter their own expense sheets and have them routed automatically for approval. They can attach any number of receipts and other supporting documents that may be required or that may facilitate approval. Employees can include unlimited free-form comments to provide detailed explanation behind an expense. A flexible and easy-to-use internet search system helps users find the data they are looking for quickly, and on-line context-sensitive help is available at all times. Complete Active Directory integration and compliance.

Configurable User Interface

Administrators can control each user’s entry and access to fields by creating employee-specific field templates that can hide fields, make them read-only, show default values, make them required, or limit what is selectable within a field. Based upon the setup of the employee, templates and filters, a user can only access the information you allow them to, and your business rules are enforced throughout the expense management process.

Approval Routing

WorkPlace Expense includes an easy-to-use approval interface that even the casual system user can operate with little training. The approval screen makes it easy for managers to quickly review the expense sheets in their queue. On-line drill-down options allow approvers to review expense sheets at a summary or detailed level. Approvers can click within their notification messages to open the easy-to-use approval system, preloaded with the items in their queue. Email notifications ensure timely approval and employee event notification through an entirely paperless system.

Configurable Approval Control

WorkPlace Expense offers configurable business rule-driven application functionality that can be tailored to how you do business using a flexible, easy to administer approval routing system based on your business rules. The approval system can handle any approval structure and organizational hierarchy. The configurable Rules Engine controls and routes each expense sheet line to different approvers based on Contract, Project, Cost Category, Employee, Bill Type, Pay Code, Expense Type, Currency Amount, G/L Account, Department and many other criteria. Non-Financial Lists allow approval rules to be based on a list of values, not just a single value. You can enforce departmental, divisional and corporate approvals with multilevel approval lists, and there is no limit on the number of levels of approval.

Comprehensive Status Monitoring

A simple and intuitive user dashboard concept enables employees to see their current activities at a glance. Employees and approvers can view the status of an expense sheet on-line and in real-time throughout its lifetime from entry to approval to final processing. Employees and approvers can receive email-based alerts and reminders for Pending Approvals, Approved, Disapproved and Processed enabling them to keep as informed as desired. Intuitive navigation controls allow for easy viewing of current and archived expense sheets. Administrators can add custom reports and enable controlled report access by user.

Complete Multicurrency Support

Employees can enter expense items in the currency in which they were incurred. A baseline currency is defined for the organization and used for reporting, and a transactional currency that can be selected for individual transactions, as well as defined as a personal option by employees. The transaction currency is based on an exchange rate of the baseline currency for the organization.

ERP System Integration

WorkPlace Expense incorporates expense entry interfaces that enable you to work in a real-time environment and leverage your investment in your existing accounting or ERP system. Native, real-time integration with your Project Accounting system gives you control over your spending with the ability to route expense sheets through approval based on project, project class, cost category, cost category class, contract, employee, bill type, pay code, amount, reimbursable and department just to name a few. After entering, employees have expenses routed for approval and processed as accounts payable transactions. Integration with your Accounts Payable system enables you to load the information from the approved expense sheets without having to rekey any information, so that you can cut checks in a timely manner.

Enhanced Sarbanes-Oxley Compliance

Under Section 404 of Sarbanes-Oxley, companies must document all internal processes that could affect the bottom line. These can include the flow of work related to travel expenses, accounts payable, procurement and even quality assurance. Sarbanes-Oxley also demands that companies identify possible risks - such as the potential for fraud or substandard parts, create controls to mitigate each threat, and document those controls. WorkPlace Expense provides tight process control over, and documentation of, the entire expense management process.

Designed for Enterprise-Wide Compatibility

WorkPlace Expense is written entirely in Microsoft .NET making our web-based functionality easy to deploy across the entire enterprise.