How does Streamlining The Contract Labor Procurement and Invoice Process?

Project Overview:

While the benefits of moving certain business applications to the cloud are widely understood, many organisations can be reticent to make the change – often for fear of disrupting their day-to-day processes, making an existing technology investment redundant, or risking the security of their data. With Taylor Lewis, however, the opposite was the case.

Challenge:

Contract resource procurement in enterprise could be a complex process as it involves vested interest from multiple stakeholders. And, this could lead to non-compliance, disputes and bottle-necked processes which ultimately result in additional overheads and delay in project completion.

Solution:

Labor procurement and invoice processing involves multiple parties like Investment Advisor, Administrator, General Partners, Regulators, Limited Partners, Limited Partners' Banks. Issues such as delay in communication between the levels, miscommunication along with approval and verification at each level in both directions may cause the process of labor procurement and invoicing to become difficult and time-consuming process.