Use Technology to Alleviate your Business Financial Growing Pains

Data is one of the most valuable assets for leadership to make good decisions.

by Wilfredo Orona, Myrna Y. Malavé-Huertas and Jorge Colón

From a financial perspective, readily available, accurate, and precise information is critical to monitoring the company’s health. What can you do to have valuable data available for making good decisions timely?

As companies grow, cost allocation becomes more challenging, specifically the cost of people’s time. It worsens when cost distribution, projections, and payroll become daunting because of complicated systems. When it comes to time and expense management, the burden of physical documentation, excessive manual processes, and overly complex approval methods drain the workdays and obscure critical data. Under those conditions, a company cannot sustain growth because managers, accounting staff, and decision-makers have trouble making sound decisions and hitting their objectives.

Monitoring the use of resources is at the core of a healthy operation. Introducing the right time-and-expense management tool is a good start for producing quality people/project cost allocation data.

¿What makes a time and expense tracking tool the best choice?

User-friendliness

People like a happy product. In this time and age, user-friendliness must be at the forefront of any technological solution. If you do not get people to use the technology properly, implementation efforts will be unfruitful.

Powerful and Flexible

User-friendliness will not be enough if the tool does not do what you need. So, it must be robust and comprehensive. Many accounting tools have out-of-the-shelves features that will cover most tasks required. But if you want a solution that suits your needs, some customizations must be possible.

Connectable

No technological solution works in a vacuum. Indeed, a time and expense management tool should live comfortably within your Enterprise Resource Planning (ERP) system. Even if your business does not have a formal ERP system, you must integrate time and expenses with accounting and Human Resources.

Our In-sourced Solution

Because of all the above, Acumenian injected our software development team with resources to provide the perfect solution for tracking time, attendance, and expenses for small-to-medium businesses. A new breed of software was born: Timeviu.

Timeviu is a friendly, easy-to-use, secure, and flexible software that we can integrate with Human Resources and Accounting tools, reducing the time and effort required by people, accounting, and administrative staff. Timeviu generates automatic reports and calculations, and data is exported to the accounting system, making the payroll process more manageable. In the same way, data connects to the Human Resources system to adjust attendance automatically.

We became our perfect client to design the ideal solution. When our company implemented Timeviu, we reduced the administrative processes’ complexity and cost, integrated accounting and Human Resources systems, and improved payroll and billing. We provided our employees with a positive experience regarding reporting time and expenses and our managers and clients with better transparency on work.

Cut down the administrative hurdles of reporting time and expenses.

We can analyze your company’s current processes and needs to evaluate your best option moving forward. With the implementation of Timeviu, we can offer training to aid your team’s adaptation to this easy-to-use tool. This extraordinarily user-friendly system will help your team decrease the time spent on administrative processes, and our support team will help with any concerns that may arise.

Acumenian, LLC is a technology-driven management consulting firm. With offices in Puerto Rico and the southern United States, we provide services that impact the performance of our clients throughout the world. To schedule an appointment, write to us at info@acumenian.com or call 787-474-0300.

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