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Finance Sector Benefits

The economic events of the last few years have sharpened finance executives focus on the importance of understanding the cost base in order to achieve sustained profits during difficult times.

But to do this they first need to have the confidence that they have accurate cost information at their fingertips. One thing is certain, those companies that tackle the information visibility issue head on will be best placed to take advantage of the upturn.

Achieving this starts with the introduction of a centralised timesheet and expense system that tracks the costs and associated revenue of all business activities, delivering valuable trends and metrics analysis.

Most organisations are faced with a constant uphill struggle when trying to reconcile disparate information, whether it´s for management reporting or external billing. This is painful on two counts, firstly there is tremendous effort and cost invested to achieve this and secondly by its very nature it is prone to error, often posing more questions than it answers.

For business management software providers Atlantic Global plc, the focus is about delivering "visibility". Through the deployment of their software product Atlantic Global Timesheet and Project Planning have been providing finance executives with the tools necessary to understand which parts of their business are most profitable.

Eugene Blaine (Atlantic Global's CEO) says "The secret of successful time capture is in the easy adoption of systems by users at all levels within the organisation. Ensuring that time entry is quick and that an individual sees only the information they need to see to perform their role reduces the frustration factor that can often make or break a deployment. Equally important is the need to communicate with all users, explaining how the information they enter plays a vital part in ensuring that the organisation runs smoothly, bills accurately and ultimately provides a successful future for all concerned."

Eugene goes on to say, "…in many organisations, a combination of home-built and out-of-date systems can no longer cope with the level of detail and accuracy that today's finance executives need. Web based products that are specifically designed to achieve this are already delivering significant cost savings."

Atlantic Globals Timesheet and Expense Tracking product is designed to deliver real benefits to real business problems. Atlantic Global has successfully implemented its products within a large range of blue-chip clients including Norwich Union, Glaxo- SmithKline, Pfizer, Barclays, HSBC, LogicaCMG and Virgin Mobile.

According to Managing Director Eugene Blaine "During a recent installation we deployed Atlantic Timesheet and Project Planning to 1500 users, across 5 UK sites, within a one week period. At the end of the week the client had over 200,000 approved hours ready for monthly charging. Their finance department estimated that they would achieve a £750K per annum cost saving."

For many of Atlantic Global's clients visibility and profits have been dramatically improved by:

• Faster timesheet capture:
  reducing data entry times and speeding up the cost collection and reconciliation processes
• Increased utilisation of resources:
  providing an excellent measurement of the effective usage of employee time, helping to quickly identify and deal with any "hot spots".
• Accurate charging:
  enabling managers to accurately allocate project costs for the timely recharging of internal business units and the billing of external clients, resulting in a dramatic reduction in billing administration and an increase in the number of billable hours processed.
• Quicker reporting and Analytics:
  delivering a comprehensive set of management reports to help analyse all aspects of the business.