Telecom expense control – starts with the basics. Do you know the cost of processing only one invoice within your organization? What if you could offload the direct labor involved in processing telecommunication invoices, while reducing strategic business costs at the same time? If this is of interest to you, then you need to contact Valicom today for their best-in-class telecom expense control.
Manual Processing: Costly and Time Consuming
“Combining powerful character recognition technologies and business specific work flow, automatic invoice processing provides significant productivity gains and a fast ROI.
The potential market for automatic invoice processing is a quite important one: only 4% of invoices are processed through EDI, (electronic data interchange) which means that 96% of all invoices are still received as paper documents. Furthermore, it takes more than 17 seconds to manually enter an invoice (assuming that only a few fields need to be indexed) and this is without counting the usual manual handling time per invoice. Keying in information from paper invoices is still the most time consuming and costly activity, yet it is probably the least value-added task in accounting departments.
In fact, each supplier invoice can cost between $3 and $15 to the company; total cost of invoice processing including sorting documents, keying in data and archiving the invoice. Of course, the cost is much higher when a problem occurs: disagreement on the invoice amount, problems with the items listed, etc. One out of five invoices encounters such a problem and companies have to deal with this problem although many have not implemented predefined processes for problem invoices.”
Start with addressing the simple processes; streamlining the operations associated with processing a telecom invoice for telephone, data, or wireless services. Do it today!