Explore Valicom's blog for essential industry insights and updates. Stay informed and empowered with the latest in technology expense management.
Blockchain is transforming industries as fast as mobile platforms and the internet itself did before. Investors around the globe are scrambling to be the first to find new ways to make the technology work. In the financial world, blockchain implementation is expected to save tens of billions of dollars in administrative and accounting costs over the next year. Those numbers are expected to grow over time.
With hundreds of telecom expense management software and service solutions, how can you tell which option is the best one for you? Here are six things to look for in a TEM provider to make sure you receive the best service possible with a reliable software solution.
Organizations receive a wide variety of bills each month from a number of different service providers. It's important for businesses to not only pay on time, but to also actively monitor their available resources accurately. Bill payment solutions have emerged as a possible answer to these issues. Let's take a quick look at the pros and cons of bill payment solutions...
Need help convincing your executive team that TEM is worth while? It should be as simple as stating - "With TEM, we will actually be saving money, not spending it."
Approving invoices manually includes hidden costs and room for errors. An invoice approval tool can maximize savings and free up time for more important tasks!
Bills can uncover a lot about what services you use and how much each costs. Businesses often look to lower their overall payments, but as telecom setups become more complex, it can be difficult to accomplish. There are three IT expenses that are burning holes in your pockets which can impact organizations.
In a world where the customer has a shortened attention span and desire for on-demand products and services, the retail landscape continues to shift further into the tech-assisted operational universe. How do these trends fit into telecom and technology expense management? While maximizing the use of technology tools, systems and platforms can help automate processes and further engage your customers, there is ever more inventory to manage and IT bills to pay.
It’s quite the alphabet soup. This is where wireless device reimbursement and wireless policies can get tricky, complicated and time consuming. Do you have the resources to comb through each wireless device invoice for how many phone calls were personal, and how many were for work? How much data was consumed checking email, and how much was used to watch Netflix?
Businesses are overspending by as much as 50 percent on their telecom bills. Additionally, as many as 80 percent of telephone bills have errors, which could increase costs. Do you or your senior management know what your annual telecom expense total is? If not, now is the time to take control.
Over the years we’ve developed a keen eye for spotting telecom invoice errors, and we’ve created a process that ensures we don’t miss anything along the way. Here is a sneak peak into our methodology for capturing and recouping credits during audits.
Whatever you call it… it means essentially the same thing. Splitting telecom and technology costs so they can be assigned to the responsible party, department, location, employee. Cost allocation is one of the most important steps towards transparency in a telecom environment. It provides you with the visibility of what is being spent, where and how.
Last week we hosted hot-topic webinar, “i-Spy Telecom Invoice Errors”. During the session we shared five of the most commonly missed and most expensive telecom invoice errors. Could you be missing these telecom invoice errors in your invoices month after month? Your existing telecom invoice processes could be the sticking point.
Every month invoices arrive from the Finance or Accounts Payable departments. Charges, invoices and expenses that need to be approved by a variety of department heads, managers and directors. It’s a daunting and complicated task, auditing, allocating, submitting for approval and finally paying these invoices. For most organizations the ‘submitting for approval’ process is the most time consuming and costly part. But it doesn’t have to be.
Invoice approval is just one step of the process. The invoice lifecycle starts with auditing and ends in check cutting, with time and money sinks all along the way. Valicom’s invoice processing services create efficiency for your team while saving you money.
Invoice errors. Those pesky little line items that are costing your operations budgets big time. So what are they? Typically, telco items that are not billing correctly, disconnects gone unprocessed, and a myriad of slamming and cramming fraudulent charges. How will you distinguish what is what? How will you spot those opportunities for savings?
