SOURCE: CyberShift, Inc.

CyberShift, Inc.

March 02, 2010 14:04 ET

CyberShift Featured in PayStream Advisors' Travel and Expense Management Adoption Benchmarking Survey Report

Tighter Budgets, Stricter Protocols Drive Transition to Automation

PARSIPPANY, NJ--(Marketwire - March 2, 2010) - CyberShift, a global provider of workforce management and expense management software and services, today announced its inclusion in PayStream Advisors' Technology Insight Series research report, "Travel & Expense Management (TEM) Adoption Benchmarking Survey." The report features a profile of CyberShift Expense™, a complete and configurable full-service solution for travel and expense management automation, along with a case study about CyberShift client Oakwood Worldwide, a global provider of temporary housing. The case study illustrates how Oakwood transitioned from manual processes to the CyberShift Expense solution to automate more than 11,000 annual travel and expense management reports.

According to PayStream Advisors' survey, today's tighter budgets and an increasingly regulatory economic environment are two of the reasons more businesses are turning to automated travel and expense (T&E) management solutions. The report revealed that while fewer than 25 percent of responding companies have automated T&E processes today, the potential for automation is significant. These adopters are benefiting from lower processing costs, improved visibility and better enforcement of company policies.

PayStream Advisors' Research Director, Sush Koka, said, "Paper is slowly becoming a thing of the past for T&E management. The emphasis on corporate cost containment and fraud mitigation during the past few years has prompted accounts payable professionals to seek new ways to automate traditionally paper-based and labor-intensive expense reimbursement processes. Automated travel and expense management solutions streamline the expense submission and reimbursement cycle to meet these new requirements for efficiency and control."

"PayStream's report is further validation that the time is right for companies to transition from manual to automated T&E management," commented Craig Fearon, senior product director, Expense Applications, CyberShift. "Automating this critical business process enables companies to better control costs and improve employee satisfaction while driving compliance with government regulations."

Fearon continued, "The return on investment is readily apparent -- with CyberShift Expense, a typical customer can reduce processing time and costs by nearly 60 percent within a few months."

CyberShift Expense, an easy-to-use Web-based solution, streamlines the entire expense management process, from pre-approval to submission to reimbursement, and can process all employee business expenses including fleet, cell phone, p-card and more. Expense report submission and management approval can be done via a standard Web browser or on a BlackBerry®.

To download a complimentary copy of PayStream Advisors' research, TEM Adoption Benchmarking Survey, please visit http://www.paystreamadvisors.com/store/details.cfm?id=293. More information about CyberShift Expense can be accessed at http://www.cybershift.com/Products/CyberShift_Expense_Software.asp

About PayStream Advisors

PayStream Advisors is a financial automation research and consulting firm with specific objectives of lowering the risk associated with automation decisions through objective analysis, in-depth research, and client-specific recommendations. PayStream Advisors delivers unbiased, third-party market trend information, assessments of financial automation technology and innovative ideas to business leaders in accounts payable, accounts receivable finance and treasury consumer billing, and healthcare. For more information about PayStream Advisors, please visit www.paystreamadvisors.com.

About CyberShift

CyberShift specializes in providing leading organizations with best-in-class workforce and employee spend management solutions to reduce costs, mitigate compliance risk and increase productivity. Our solutions help organizations of all sizes address complex policies and increase the effectiveness of their workforce in delivering products or services to their customers every day. CyberShift's comprehensive product suite is unique in providing multi-national capabilities for employee scheduling, time-and-attendance, contingent labor management, absence management, expense management and solutions for the mobile workforce. CyberShift manages over 1.5 million transactions daily through our highly secure SaaS delivery model, and is also available as an On Premise license, putting the power of choice in the hands of the customer. For more information, please call (877) 274-4381 or visit www.cybershift.com.