It’s easy to feel like you are in the middle of a juggling act as a Procurement Manager or CPO. No matter how many times you reflect on current processes and procedures, new tools are continuously released to promote the supplier management process.
Like with fine dining, sometimes you just want to “build your own.” You know what you want, and what you need, so why let someone else create a package for you when you can do it yourself.
The next service that will ease some serious telecom pain is invoice processing. The mid to large size healthcare organizations are receiving upwards of 400 telecom invoices annually, and yet only 70% of IT manager have an accurate inventory of their telecom environment.
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.
Processing thousands of invoices for several carriers each month can be an overwhelming and daunting task. Today we’ll share several of our tips for telecom invoice processing.
The bread and butter of telecom expense management (TEM) is finding opportunities for savings. Cold hard cash. Everyone wants to do more with less, and a lot of the time telecom expenses are eating up the IT department’s budget. Find critical savings, and free up budget for other more pertinent business expenses.
Here’s how well something that easy can work. The following is a case study outline of a company who saved over $104,000 by implementing cursory audit findings:
Huge not only in dollar value, but in sheer volume. Some firms have complex telecom environments including many locations, multiple vendors, and various services ranging from mobile to WAN. This can mean a lot of paper coming in, a responsibility that may make you want to hide in your office and pretend like you’re on vacation. For a year.
Invoice detail is most often associated with cost allocation and a telecom auditing. User, usage and cost information is made more visible, so errors and overcharges can more easily be seen and corrected. Data can be entered and allocated to a degree of detail dictated by the individual client, as some may want more granular information available for reporting. Electronic invoice copies are also stored in their original layout, as a PDF or other desired format, for archiving and research needs. This creates a rich history of data for use over time, giving visibility to important trends and the distribution of costs throughout the firm.
In our series of posts on telecom management pain points, this one is a biggie. Most telecom managers get tired of dealing with invoice processing and payment. Invoices should really be audited every time, but even without that, there is still the matter of getting the invoices – either electronically or paper – GL coding everything, getting it approved, and then paid on time. Anything to keep Accounting is happy.
At this point, all your invoice and inventory data is already in a telecom management software platform. If the system is designed to help you remember to check your next invoice to verify the change you recorded was actually implemented by your vendor. All this is handled via the software’s “Issues” area.
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?
As we discussed in our last blog post on telecom management pain points, telecom invoice auditing is a major headache. New cloud telecom expense management software tools make that management process easier, and we wanted to show a case study that illustrated how various telecom management services can be bundled together to build a custom solution around your needs.
A major source of headaches for telecom managers is dealing with telecom invoicing. Lots of paper = lots of mess. And you know you should really review those suckers EVERY time, EVERY month, but really – who has the time.So finding a way to streamline invoice processing should be high on your list. A few tips to make your life easier…
Speaking of document management, 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 knowyou 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?