CyberShift's Necho Expense Management solution featured in PayStream Advisors' latest Travel and Expense Management report
CHICAGO, July 18, 2006 -- National Business Travel Association's International Convention and Exposition -- CyberShift, a leading provider of workforce and expense management software and services, today shared details of the company's inclusion in PayStream Advisors' latest report, "Travel & Expense Management: A Buyer's Guide to Expense Management Solutions." As part of the report's coverage of the travel and expense management (TEM) industry, CyberShift's Necho Expense solution is highlighted as a leading, automated expense management solution.
In this report, PayStream Advisors, a technology research and consulting firm, cites that sophisticated organizations are improving their expense control process through automation. The report details the role that technology plays in, not only streamlining the approval process, but in combating fraud and improving compliance with regulatory requirements. The 65-page report profiles seven TEM solution providers and concludes with a comparative analysis designed to help readers evaluate the best-fit solution for their organization.
"Rising costs from a range of sources, including increasing business travel, fraud, and poor spend visibility and control, on top of the need for greater system integrity and accurate reporting to meet the requirements of Sarbanes-Oxley legislation have led many organizations to seek automated solutions," stated Sush Koka, Senior Research Analyst at PayStream Advisors. "Necho Expense is a functionality-rich TEM solution with an impressive back-end offering a strong suite of querying and analytical tools. The formidable dashboard functionality also delivers a unique toolkit for senior managers to analyze spend management and drive down costs proactively."
Detailed in the report are Necho Expense's pre-trip authorization module, advanced data analysis and reporting capabilities, configurable workflow rules, and ability to pre-populate reports with corporate card information, specifically Level III and Enhanced Hotel Folio data, as well as the solution's robust support of multiple liability, billing and payment structures for corporate card programs. The TEM report also includes information about Necho Expense's market-leading Receipt Digital Filing support for the imaging and management of receipts.
"As noted in the report and validated by the recent release of Necho Expense 7.5, CyberShift is focused on providing continued support and enhancements to our leading expense management solution," stated Robert Farina, CEO of CyberShift. "Combined with our Workforce Management 3G(TM) solution, CyberShift enables mid- to large-sized organizations to better manage their top two controllable expenses -- labor and expense management."
Necho Expense is a scalable solution that is available for in-house deployment or via a hosted, Software-as-a-Service (SaaS) model. The TEM report highlights that regardless of the hosting option, Necho Expense clients receive the same functionality as well as their own instance of the application and database, providing complete data security and confidentiality with no scope for errors from the co-mingling of data. Necho Expense Offline Edition, in addition to the solution's robust workflow functionality, configuration of e-mail notifications, and range of reporting and implementation options, is also included within the report. A case study detailing CyberShift client Loomis Sayles & Company's experience and successes utilizing Necho Expense is featured in the report as well.
Koka added, "Looking forward, we believe that CyberShift will set the pace for innovation in TEM, especially with regard to spend management and analytics. Whether you're a small firm looking to slash process costs with an out-of-the-box product or a big multinational enterprise seeking advanced reports and analyses, Necho Expense merits serious consideration."
Craig Fearon, Senior Product Director at Necho, a division of CyberShift, will participate in PayStream Advisors' Travel & Expense Management Automation e-Roundtable on July 26, where four vendors from the TEM report will answer questions, such as what benefits have your clients achieved from corporate card integration, how does your solution facilitate compliance with Sarbanes-Oxley requirements, and how does your solution facilitate the digital receipts filing process?
Necho Expense is a comprehensive, 100 percent thin Web-based solution designed to automate and streamline the entire process of employee business expenses from submission to reimbursement. For more information, please visit http://www.necho.com. The full PayStream Advisors' report can be purchased by visiting http://www.paystreamadvisors.com.
About PayStream Advisors:
PayStream Advisors is a technology research and consulting firm that improves the way companies plan, evaluate, and select emerging technologies to achieve their business objectives. PayStream's services are designed to minimize risk and maximize the value associated with technology investments. PayStream Advisors assists clients in sorting through the growing complexities of IT applications related to financial automation with the goal of making objective, analytical, and actionable recommendations. For more information, call (888) 436-4335 or visit http://www.paystreamadvisors.com.
CyberShift, Inc. (http://www.cybershift.com) and Necho, a division of CyberShift, are leading providers of workforce management and expense management software and services focused on helping large, complex organizations optimize and manage the deployment of their people. CyberShift's rules-based platform delivers a fully integrated solution for the management of all aspects of time and attendance, scheduling, travel and expenses, self-service functions and workforce reporting and analytics. The enterprise-class workforce and expense management suite reduces costs and improves processes for a variety of industries, including financial services, manufacturing, transportation, retail, media and entertainment, healthcare and the public sector. CyberShift is the workforce and expense management solution provider of choice for many of the largest organizations throughout the United States and Canada.
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