SOURCE: CyberShift

CyberShift

March 31, 2011 08:00 ET

CyberShift Highlighted in PayStream Advisors' Travel and Expense Management Benchmark Report

Report Validates How CyberShift Expense Drives Efficiencies and Control by Streamlining Expense Management

PARSIPPANY, NJ--(Marketwire - March 31, 2011) - CyberShift, a global provider of expense management and workforce management software and services, today announced its inclusion in technology research and consulting firm PayStream Advisors' 2011 "Travel and Expense Management (TEM) Benchmark Report: Improving T&E Processes through Automation."

Based on research conducted with more than 300 accounts payable and finance professionals, PayStream Advisors' benchmark report profiles the use of expense management automation solutions across U.S.-based enterprises. The survey results illuminated overall trends that shape the TEM landscape, helping practitioners better benchmark their own operations against the processes of similar businesses. This year's report noted an increase in business travel and entertainment expenses and continued emphasis on cost containment, fraud mitigation and compliance.

"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 management processes," commented Richard Lang, research manager at PayStream Advisors. "Businesses are turning to a set of technologies referred to as TEM solutions that streamline the expense submission and reimbursement cycle to meet new requirements for efficiency and control."

The report spotlights CyberShift as a global expense management solution provider that holds a unique position in the marketplace given its flexibility when providing customers with both on-demand and in-house licensing delivery options. Through a customer case study, PayStream Advisors' report also illustrates how CyberShift Expense helps audit, reconcile and reimburse expenses easily and more quickly, ultimately providing better control over costs and fraud detection.

"As travel and entertainment costs rise, companies may find themselves struggling to keep up with expense cost containment and compliance requirements," said senior product director, Expense Applications at CyberShift, Craig Fearon. "By automating the complexities of this process, organizations can simplify the process for travelers, reduce fraud, streamline workflow and collaboration and better control costs by aligning with spending-based policy compliance rules."

The full PayStream Advisors' Travel & Expense Management Benchmarking Survey Report, featuring CyberShift and the CyberShift Expense solution, is available for download at http://www.cybershift.com/TEM_adoption_report_2011.

For more information on CyberShift Expense, please visit http://www.cybershift.com/Products/CyberShift_Expense_Software.asp.

About CyberShift
CyberShift specializes in providing leading organizations with best-in-class employee spend-management and workforce 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