We have learned in last 20 years best way to track expenses is by:

• Activities Performance of activities s what drives costs. If an organization performs an activity "prepare financial statements", this activity requires:
  • Personnel
  • Computers
  • Desk
  • Telephones
  • Facilities
  • Office supplies

If an organization performs this activity quarterly rather than monthly, then is will free up these resources to be used for other activities.

Executives and managers waste a great deal of time analyzing expenses like wages, travel, rent, utilities. They should focus on activity volume and activity unit cost.

• Cross Functional Processes Organizations should combine their activity costs into cross functional business processes. Usually greatest opportunity of improving operations is to look at handoffs between:
  • departments and cost centers
  • you and customers
  • you and vendors
  • you and shared services

Email below or call John Antos, Jim Brimson, Steve Peacock at 972-980-7407 to find out how to set up more actionable Expense Tracking system.