We are continuing our series discussing how telecom management software streamlines telecom management tasks.
To further our discussion of document management beyond contracts, which our last post was on, one of the biggest pain points of telecom has got to be invoices. Little missiles of irritation that arrive in the mail to ruin your day. Sometimes by the boxful. And you know you should really look at all of those – line by line, every single month – to make sure they are accurate. But really, who has the time?
So you’re left with two challenges. Can I minimize this mountain of paper? And is there a faster way to review these to see if we have problems? You’ll be happy to know the answer to both is YES.
Invoice data can get in a telecom management software platform two ways – electronically via import, or manually. And this is where you might want to outsource some work to a partner like Valicom. Invoices can be shipped directly to us, and we will scan and enter all the information into the system. The invoices will be available for viewing as a PDF at any time, and all the payment data will be attributed to the proper inventory items and cost centers. Then comes the fun part of audit and approval.
Which brings us to our second trick – automating the telecom invoice review process. The software has a built-in variance tool. Most invoices should be the same, month in and month out, so when they aren’t, you know something has changed. Perhaps you were anticipating that, but perhaps not. Either way, if it is flagged for you, then you know to look. The system can also help you look for certain types of charges that are often tacked on by mistake, like installation fees and taxes. This can save you a lot of time, as you can choose to only review the items that need attention.
And once the invoice review is done, and they are tagged for approval, the software can generate a feed to your Accounting system with all the details. Then they can cut the checks there, or your vendor partner can cut the checks, pay the bills, and just send the feed to Accounting so they know it’s done!
Next post, we will cover how software helps with procurement and things like change & order management…..
Want to learn more about telecom expense management software-as-a-solution? Check out Clearview – because, “When you see, you save.”