WorkPlace Project | Paramount Technologies

WORKPLACE PROJECT, TIME & EXPENSE



Automate the project lifecycle to improve resource utilization and streamline time & expense processing

Paramount Technologies’ project accounting solutions enable operational and financial management through project initiation, resource utilization, time and expense processing and earned value management. Via the WorkPlace Project, WorkPlace Time, and WorkPlace Expense solutions, Paramount Technologies delivers web-based, workflow-driven information for project and resource management.

Our solutions address the wide range of unique project accounting, financial management, billing and procurement requirements in a multi-company, multicurrency environment. The success of a project-driven business depends on the planning, managing and closing of projects in a timely, quality-focused and cost-effective manner. Paramount Technologies’ solutions are designed to automate the project lifecycle, eliminate redundant data entry and provide visibility across the project portfolio and resource pool.

Benefits
Eliminate error-prone paper-based processes Reduce requisition-to-order costs and cycle time Control maverick spending Manage by exception - ensure that your purchases adhere to your policies Ensure Sarbanes-Oxley compliance with a complete audit trail of transactions Enable your procurement professionals to focus on strategic tasks
Powerful User Project Interface
Paramount’s project accounting solutions offer a user-friendly, web-based way to manage your projects from any location. Project time can be tracked at the Project, Phase or Activity level. Employees can create invoices or export data to other applications, manage and track billable and non-billable time, and create multiple billing rates. They can enter their own time & expense sheets and have them routed automatically for approval. Any number of supporting documents can be attached, and employees can include unlimited free-form comments to provide a detailed explanation behind each time entry or 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 project cycle.

Approval Routing
Paramount’s project accounting solutions include 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 time & expense sheets in their queue. On-line drill-down options allow approvers to review time & expense sheets and documents 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
Paramount’s project accounting solutions offer 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. User profiles can be used to control what data employees have access to, which information is required to create time sheets or expense sheets and to limit the amount and type of spending. User profiles act like a desktop manager, ensuring your business rules are enforced throughout the project and billing process. The configurable Rules Engine controls and routes each time or expense sheet line to different approvers based on Project, Phase, Activity, Employee, Earning Code, Expense Type, Currency, Amount, GL 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 a time or 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. Users can view to active and historical time & expenses. Intuitive Navigation Controls allow for easy viewing of current and archived time & 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, and is defined by the administrator.

ERP System Integration
Paramount’s project accounting solutions incorporate time and expense entry interfaces that enable you to work in a real-time environment and leverage your investment in your existing accounting or ERP system. After entering, employees have time and expense sheets 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. Integration with your Accounts Receivable system enables you to load approved time sheets and promptly generate billing invoices.

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. Paramount’s project accounting solutions collect all project-related data in a single program and provide tight process control over, and documentation of, the entire project accounting process. Automatic archiving of processed time & expense sheets ensures availability of an audit trail.

Designed for Enterprise-Wide Compatibility
Paramount’s project accounting solutions are written entirely in Microsoft .NET making our web-based functionality easy to deploy across the entire enterprise.