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One client used Oracle Financials (OFA) to track project cost.
They asked their staff to report the hours worked by project and
activity type on a form that would be approved and hand-entered
into OFA. The time consuming process was very expensive and was
not capturing information accurately.
VVS Inc. staff constructed a web-based time entry system that pulled
all the open projects from OFA and presented them to each individual
(based on their authorization to charge to the project). The resultant
information was designed to load directly back into OFA to create
a closed-loop system.
This project provided the customer with a workable process that
empowered employees to take responsibility for their time. Project
managers were able to approve/disapprove entries as well as check
actual costs in real time on their projects. Redundant data entry
was completely eliminated. Employees made entries daily. Managers
approved weekly. Reports were generated on demand. The system's
information even passed an IRS audit.
Reporting included many different views of the data that was accessible
based on privileges. This project continues to be a success for
the client. It provides them with an improved version of their existing
process while providing the compliance, accuracy, and timeliness
the preexisting process could not deliver. This saved the client,
in a single year, in excess of $2 million dollars in tracked depreciable
expenses that would not have been deducted.
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