Efficient management of time and expenses is critical for organizations leveraging a contingent workforce and external service providers. SAP Fieldglass, a leading cloud-based Vendor Management System (VMS), offers robust tools to manage and automate the processes around time tracking and expense management. This ensures accuracy, compliance, and timely payments while providing visibility into labor costs.
This article explores how SAP Fieldglass facilitates effective management of time and expenses, helping businesses optimize workforce spend and improve operational efficiency.
SAP Fieldglass enables organizations to capture, approve, and process time entries for external workers with precision and control. Key features include:
External workers and suppliers can enter hours worked through intuitive web portals or mobile apps, allowing for real-time recording of labor hours. This flexibility supports various working arrangements, including remote and on-site work.
Time entries undergo configurable approval workflows involving supervisors, project managers, and procurement teams. This ensures validation of hours worked before payment, reducing errors and fraud.
Approved time data is seamlessly integrated with payroll and accounts payable systems, automating invoice generation and payment processes.
The system maintains detailed audit trails for all time entries and approvals, supporting regulatory compliance and internal controls.
Managing expenses related to external workers and projects can be complex. SAP Fieldglass simplifies this process by offering:
Workers can submit expense reports with supporting documentation (receipts, invoices) through the platform. This transparency ensures accurate reimbursement.
Expense policies can be embedded in the system, automatically flagging or rejecting out-of-policy expenses to enforce compliance and control costs.
Like time management, expenses undergo multi-level approvals before reimbursement, ensuring accountability.
Detailed expense reports provide visibility into spending patterns, helping organizations identify cost-saving opportunities.
A global consulting firm implemented SAP Fieldglass for managing its contingent workforce’s time and expenses. By automating these processes, the firm reduced invoice processing times by 40% and improved compliance with expense policies, resulting in significant cost savings and enhanced operational efficiency.
Managing time and expenses effectively is essential for organizations relying on contingent labor and external services. SAP Fieldglass provides a comprehensive solution that streamlines these processes, driving accuracy, compliance, and cost efficiency. By leveraging SAP Fieldglass’s time and expense management capabilities, businesses can gain better control over workforce costs while enhancing operational agility.