One of the simplest functions performed as part of the TEM process, is paying the vendors for services. Many companies, tempted by sending fewer checks, will combine the payments for multiple telecom invoices on a single check, and provide a key to the telecom vendor so that they can apply the payments to correct accounts.
Sound good, but unfortunately doesn’t work well. For whatever reasons, the telecom vendors have a very difficult time applying payments to multiple invoices from a single check. And this leads to a risk of disconnected service, as well as lots of time following up to get the payments corrected.
Much of this headache can be avoided by simply cutting one check per invoice. While this will cost a little more in postage and materials, the payback is much greater in time saved and reduced risk of disconnection.
Engaging a Valicom is an easy way to make this happen. As part of most of our TEM engagements, we handle all of the telecom invoice payment for our clients. And we always cut one check per invoice – ensuring the least risk and least chance of misapplied payments.