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DCAA Compliance Made Easy With Tenrox Project Workforce Management
Regent Systems Inc. Improves Productivity, Efficiency and Audit Controls Using Tenrox
Pasadena, California - August 14, 2007
Tenrox, the leading provider of workflow-driven Project Workforce Management solutions, announced the successful deployment of an integrated cost and revenue accounting solution for Regent Systems that has resulted in long-term bottom-line and strategic benefits for the growing government IT consulting firm.
For the past 14 months, Regent Systems has relied on Tenrox's Project Workforce Management – Cost and Revenue Accounting module. The Cost and Revenue module helps measure workforce productivity and project profitability, while providing fully audited cost and revenue overviews in real-time. It also automates billing or charge backs based on organizational or project breakdown structures.
Tenrox solutions meet a range of compliance needs, including the Project Cost Accounting guidelines from the Defense Contract Audit Agency (DCAA), which are used as the standard for monitoring and auditing all government contracts and service providers. DCAA compliance was a key factor in Regent's selection of Tenrox.
“Our in-house process for tracking time and project billing just didn’t have the accounting controls we needed,” said Carla Jones, chief accountant for Regent Systems. “With audit concerns always being top of mind, it became more necessary than ever that we needed a better solution − not just a technology, but a truly integrated system − that would keep pace with our company's growth.”
“After conducting our due diligence and reviewing four other solutions, Tenrox clearly demonstrated the ability to implement an integrated project cost and revenue accounting system for our company that would actually work,” she said.
The Tenrox Project Workforce Management solution easily addressed Regent Systems' immediate requirements that involved its ongoing need to administer and track:
- Manager-employee notification;
- Vacation and Personal Time Off (PTO);
- Cost and billing;
- Hours used versus hours available;
- Contract modifications; and - Workforce availability.
“There were so many ways of doing things that it made us really stop and think about our operations and accounting as a whole, and how we could work so much more efficiently,” said Jones.
Webinar
Regent Systems' Tenrox deployment will be the subject of an upcoming Client Success Study webinar:
Title: “Government Consulting Firm Sails Through DCAA Audit using Tenrox”
Presented by: Carla Jones, Chief Accountant, Regent Systems
Date: Tuesday, August 21, 2007
Time: 1 p.m. Eastern/10 a.m. Pacific
Who Should Attend: Government Agency Managers, Directors of Finance, Directors of Project Management Offices, Directors of Professional Services, Billing Managers and all other levels of management with project accounting and project management responsibilities.
About Tenrox
Tenrox online project management software solutions empower client companies to meet the challenges of globalization, enterprise fragmentation and increased regulatory scrutiny. Available on-demand or on-premise, Tenrox solutions have served more than 800 organizations in 50 countries, maximizing project and resource management efficiency, data security and reliability. Since 1995, Tenrox has been offering its project management software tools to several, high profile clients such as GE Infrastructure -GE Fanuc, Rio Tinto Alcan, E*TRADE Financial Corp, Blue Cross Blue Shield NC. Alstom, IBM, SNC Lavalin, Hydro Quebec, Pioneer Natural Resources, Westinghouse Rail Systems, SAS, Thales, US Army, The Pentagon, Talisman Energy, Oxfam, Thermo Fisher Scientific, Estee Lauder and Wyeth. Tenrox project management software is available through direct sales channels and a network of worldwide partners. For more information about the company or its award-winning family of products, go to www.tenrox.com.
Media Contact:
Marie Melchiorre
Tenrox Public Relations
877-483-6769 Ext. 4603
publicrelations@tenrox.com
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