1. Receipt Tracking Assistant Final Presentation Main Presenter: Nicholas Tschohl Project Manager: Edward Denecke May 4, 2005

2. 4 May 2005Receipt Tracking Assistant 2 RTA Team Members Nick Tschohl Wayne Yee Philip Ly Edward Denecke Meriel Regedon Andrej CiricMike Schaefer

3. 4 May 2005Receipt Tracking Assistant 3 Overview Problem Introduction Problem Characteristics Current Method RTA Solution Solution Characteristics Prototype Characteristics Prototype Demonstration Risk Management Plan Break Even Analysis Phase I Characteristics Conclusion

4. 4 May 2005Receipt Tracking Assistant 4 Problem Introduction Due to the lack of automation, organizations spend a large amount of time tracking expenditure receipts from traveling employees.

5. 4 May 2005Receipt Tracking Assistant 5 Electronic Reimbursement Corporate Survey Respondents Using an Electronic Reimbursement System *Information taken from Runzheimer Reports on Travel Management http://www.travel.runzheimer.com/usercontent/tmn/content/RRTM/Issues/rrtm-2003-10-v23-n5.pdf

6. 4 May 2005Receipt Tracking Assistant 6 Traveling Statistic Americans make more than 405 million long-distance business trips per year *Information taken from Bureau of Transportation Statistics http://www.bts.gov/publications/america_on_the_go/us_business_travel/html/entire.html

7. 4 May 2005Receipt Tracking Assistant 7 Problem Characteristics Time consuming to process Some receipts may be difficult to obtain Damaged or lost receipts Receipts are inconvenient to collect

8. 4 May 2005Receipt Tracking Assistant 8 Current Method Employee goes on a trip Collects receipts (10) Fill out expense report manually Employee returns from trip Organizes receipts

9. 4 May 2005Receipt Tracking Assistant 9 RTA Solution Software management system for PC that: Easy and convenient to use Reduces processing time Improves organization

10. 4 May 2005Receipt Tracking Assistant 10 Goals and Objectives Create a convenient system for processing and managing employee spending reports Allow digital backup of receipts Create custom expense reports Track employee spending trends Compare employee spending

11. 4 May 2005Receipt Tracking Assistant 11 Solution Characteristics What it will do: Decrease processing time Improve organization Digital backup of receipts Use OCR to parse receipt information Automatically organize receipts for printing Automatically create expense reports Track employee spending Allow for creation of expense report templates What it will not do: Enforce employee use Eliminate paper usage Eliminate human error Prevent fraudulent receipts Reduce receipt collection

12. 4 May 2005Receipt Tracking Assistant 12 Prototype Characteristics What our prototype can do: Comparative Reports Expense Reports Login Security What our prototype simulates: OCR Parsing

13. 4 May 2005Receipt Tracking Assistant 13 Functional Component Diagram

14. 4 May 2005Receipt Tracking Assistant 14 Estimated Time Savings New method will save on average 9.5 minutes per 10 receipt expense report *Estimated a savings of $1 to $3 on each report processed *Cost estimates from Bank of America

15. 4 May 2005Receipt Tracking Assistant 15 Risk Management Plan 1)Unscanable Receipts 2)OCR Errors 3)Integration Conflicts 4)Security Issues 5)High End User Cost 6)Limited Financial Resources 7)Employee Acceptance 8)Limited Primary Market 9)Software Bugs and Database Errors 10)Customer must have computer Likelihood Consequences 1, 23 4

16. 4 May 2005Receipt Tracking Assistant 16 Risk Mitigation Unscanable Receipts Likelihood: Medium (3) Consequence: Very High (5) Mitigation: Manual user input of information Optical Character Recognition (OCR) Errors Likelihood: Medium (3) Consequence: Very High (5) Mitigation: Manual input and confirmation screen

17. 4 May 2005Receipt Tracking Assistant 17 Risk Mitigation System Integration Conflicts Likelihood: Medium (3) Consequence: Medium (3) Mitigation: XML import and export for company Provide personnel to train client employees Sensitive Information/Security Issues Likelihood: Very High (5) Consequence: Medium (3) Mitigation: User login security password

18. 4 May 2005Receipt Tracking Assistant 18 Break Even Analysis Note: A loan of $700,000 will be taken out to help cover the expenses of the first year and is to be paid back through the next seven years. CostBreak evenEstimate 1st year$798,0003470 units750 units 2nd - 7th year$473,0002057 units2500 units 8th year$355,0001545 units2500 units

19. 4 May 2005Receipt Tracking Assistant 19 Projected Profits YearsCost Per Year Gross Revenue Per Year Profit Per Year 1 st $120,000$172,000$52,000 2 nd -7 th $473,000$505,000$102,000 8 th +$355,000$505,000$220,000 This chart includes the money received by the loan and the effects over the following seven years of interest.

20. 4 May 2005Receipt Tracking Assistant 20 Conclusion Though our prototype is not complete, we believe that the RTA is a feasible project. The RTA will automate parts of the reimbursement process and save up to 50% in time and money spent on each expense report. This system will save on paperwork and create an organized database. Valuable comparison information will be provided to the company.