Telecom Invoice Processing is critical to telecom expense management.
Business today is all about having the right tools and technology. This means telephones, mobile phones, pagers, expensive high-speed internet connections, laptops with wireless capabilities, the list goes on and on. Each year the complexity of your technology environment grows. New gadgets hit the market, and the number of people within your organization who needs these things goes up. All of that leads to complexity, and complexity can lead to a higher risk for errors.
Telecom Invoice Processing – why do you need it?
Forrester Research estimates that “billing errors average 5% to 12% of ongoing telecom services budgets”. Yes – that number is probably pretty surprising… but this issue might be more alarming and larger than what Forrest reports. Here’s a number that will get your attention. In our 20+ years of doing telecom invoice audits, we have found that over 35% of telecom invoices have some type of error. If you don’t have a keen eye looking out for these errors, you will miss them.
The risk of invoice errors can be greatly reduced by proper telecom invoice processing and management. It’s why we built Clearview – our telecom expense management software – designed to automate getting telecom invoice data into the system, and once it’s there, help with reviewing the invoice for accuracy.
AOTMP Experts Weighs In
The Authority on Telecom Management Practices (AOTMP) released the 2015 TEM priorities and care abouts. The results may or may not surprise you. Organizations are looking for savings within their environments. In our experience, the very first step to reaching this level of optimization and savings, is thorough telecom invoice processing. Surveyed telecom managers want better accuracy and reporting for their inventory, and a higher level of efficiency when it comes to the workflows that take the longest; telecom invoice processing, credit request and validation, and service provisioning.
Do agree with AOTMP’s report results? What are you looking for this year within your telecom environment? Access the full AOTMP white paper here: ‘Telecom Management Priorities 2015 – What You Should Care About‘.