Systech Solutions, Inc

Glendale, CA - Internet World, a leading business technology trade magazine, featured Systech's Audit & Analytics solution for its cover story. The article, written by Karen J. Bannan, spotlights the key features of Systech's powerful business intelligence solution for corporate accounting and finance. In the interview, Keshav Kuthiala, Systech's Director of Technology and Partnerships, outlines the significant and often immediate financial impact that Audit & Analytics can provide organizations.

For more, please visit Internet World or simply read the transcribed article below:

• Business intelligence is only smart if it actually saves you money, whether by cutting costs or manpower hours. While every company says its program does just that, it's not clear whether each one actually does. Systech Solutions Inc., a Glendale Calif.-based professional services firm announced a new financial business-intelligence program that, according to its executives, has a nearly instantaneous return on investment.
• 'Systech's new program called Audit and Analytics, built on MicroStrategy's business intelligence platform, is designed for the accounts receivable and payable departments. Using the program, companies can find lost money, streamline their billing and payment systems, and gain additional insight into where they can glean additional discounts. To date, companies using the program are pleased with Audit and Analytics', says Keshav Kuthiala, Systech's director of technology and partnerships.
• 'Most of the customers install and save between $1 million and $10 million, depending on how many invoices they are handling,' he says. 'And since companies typically wait until the end of the year to audit themselves, they're also getting the added benefits of being proactive.'
• 'The program, which costs between $100,000 and $150,000 includes implementation and customization analysis of the company's accounts payable and receivable financial transactions where it looks for mistakes and lost opportunities. For example, the program looks for inaccuracies such as discrepancies between purchase orders, invoices, and payment amounts and can generate letters so companies can get refunds for such mistakes. It also analyzes where companies can leverage their power with vendors, possibly seeking discounts', says Kuthiala.
• 'If your payment term is 21 days but you're mostly paying at 25 days, you're missing out on a discount. Essentially, your cash flow isn't going to be impacted if you change the process a little but you're going to be saving a lot of money,' says Kuthiala.
• The alternative to business-intelligence programs such as Systech's is a formal auditing process, but there's a downside to having an auditor in. Most importantly, auditors usually charge between 30 to 50 percent of whatever cost savings he or she discovers. While it's bad enough that auditing can be expensive-if a company is wasting $1 million each year the auditor's fee is $500,000-most companies only use an auditor once or twice a year, missing out on month-to-month savings from interest on their finances.
• Still, Systech's program may not be a good fit for every company. Small- to medium-sized businesses may not have the financial resources to install such a program. In addition, the installation time-up to 12 weeks in some cases-can be a hardship for some, especially those with limited IT and accounting staff. But Kuthiala says programs such as Audit and Analytics are something that most companies should at least evaluate.
• 'In today's market, where a lot of people are looking inwards to achieve savings, this is money they are leaving out on the table,' he says. 'Analytic programs give companies independence and a way to achieve savings.'

About Systech Solutions

Since 1993, Systech Solutions, Inc. has been the dynamic choice for Business Intelligence, CRM, e-Business, Supply Chain and ERP solutions. Systech's services leverage business and technology expertise to eliminate inefficiency throughout the client's supply chain, reducing time and increasing revenue. Systech brings innovative methodologies, years of industry experience and unequalled professional integrity to every project. www.systechusa.com

About Internet World Magazine

Internet World is the leading business technology trade magazine. Published 22 times per year with a circulation of 225,000 qualified Internet business strategists, Internet World provides trusted information and expert insights necessary to make informed and effective strategic management and purchasing decisions to drive businesses' Internet initiatives. In addition to the U.S. edition, Internet professionals in 20 countries on five continents read eight international editions. Internet World is a BPA-audited, Intelliquest-measured publication. www.internetworld.com