Time and Expense Tracking

Track and Report Time and Expense with Efficiency and Speed

Business Challenges of Time and Expense Tracking

• Weak time and expense tracking internal controls related to project and service delivery are not in compliance with Sarbanes-Oxley, accounting and employment regulations; the company is likely to face severe Sarbox penalties and lose investor confidence if audited
• Work time is captured in multiple disconnected payroll, accounting and project tracking systems; the time tracking information requires manual data entry, adjustments and merging
• In-house developed time and expense tracking software has become a legacy-outdated system, is high maintenance, and diverts resources and attention from the organization's core business
• Using spreadsheets to track time and expense requires extensive administrative overhead, is error-prone and management does not have access to real-time time and expense tracking software reports on projects and operations to measure progress and make decisions

 
Tenrox Timesheet for Time and Expense Software

Our solution is a 100% web-based time and expense tracking software program that includes workforce and spend management systems. Tenrox time and expense tracking software automates time tracking, expense management and payroll processing, eliminates payroll and billing imprecision, reduces timesheet review time by 80%, improves reporting, project tracking and visibility, and reduces administrative overhead. The web-based time expense tracking software also reduces expense reporting costs by 40% to 80%, automatically imports credit card transactions, manages cash advances, improves cost reporting, and helps control spending.

Benefits of Timesheet Time and Expense Software

• Automate, track and connect people, projects and financial processes, and eliminate spreadsheets and in-house legacy systems to facilitate compliance with corporate governance, employment and accounting regulations
• Average timesheet time and expense tracking review takes 6 minutes. With an automated time and expense tracking software system, timesheets and time and expense reviews take approximately 1 minute; an 80% reduction in review time 
• Average cost to manually process an expense report is ~$40 to $80. Automating the process helps reduce expense management costs by 80% 
• Monitors time and expenses by project, preventing budget overruns 

Compliance

Please refer to the Tenrox Compliance section for more information on how Tenrox Timesheet for Time and Expense software helps you achieve and maintain compliance with regulations, standards and guidelines in your industry.

Governance

Please refer to the Tenrox Governance section for more information on how Tenrox Timesheet for Time and Expense software can help you achieve and maintain accountability and corporate governance.

Hosting

Tenrox Hosting provides a convenient alternative for implementing and maintaining Tenrox Timesheet for Time and Expense Tracking software in-house.