C2. Controlling cycle times
The Controlling Cycle Times dashboard tracks and analyzes the average time taken for expense reports to move through submission, approval, and control stages, providing insights into process efficiency and potential areas for improvement.
The time difference is calculated in effective days (as opposed to business days). The date range filter takes into account the submission date of a report.
KPIs:
The purpose of these KPIs is to track and monitor the average time it takes for expense reports to move through various stages, from submission to approval and control.
Average Report Time To Submit: Measures the average time employees take to submit their expense reports after incurring expenses, assessing promptness and adherence to submission timelines.
Average Report Time To Approve: Tracks the average time managers or approvers take to review and approve submitted expense reports, reflecting the efficiency of the approval workflow and identifying potential bottlenecks.
Average Report Time To Control: Measures the average time the finance or control team requires to perform necessary checks and controls on approved expense reports before reimbursement, highlighting efficiency and identifying delays in the control process.
Sections:
Control Process Efficiency: This section focuses on providing insights related to the control process, including its duration, efficiency, and potential areas for improvement, by visualizing the average processing times and the distribution of control process times.
Report Processing Time (bottom performers): This section highlights the bottom performers in terms of report submission times, approval times, and control times, allowing for identification and analysis of the reports with the highest durations for each stage.
Controlling time detail: This section provides a detailed report showing the control details per report, offering a granular view of the specific elements and factors contributing to the overall control process.
Purpose:
The dashboard aims to monitor and optimize the duration of each stage in the expense report workflow, identify bottlenecks, and enhance overall efficiency, ultimately streamlining the controlling cycle and improving expense management practices.