Telecom and Technology
Managing and monitoring your telecom and IT invoices is critical in telecom and technology expense management.
To conduct business today, you need tools and you need technology: telephones, mobile phones, pagers, expensive high-speed internet connections, laptops with wireless capabilities, and so much more...
Telecom and Technology Invoice
Auditing: When do you need it?
Forrester Research estimates that “billing errors average 5% to 12% of ongoing telecom services budgets”. We agree. In our 25+ years of doing telecom invoice audits, we’ve found that over 35% of telecom invoices have some type of error. And if you’re not watching for them, you don’t see them.
Clearview, our telecom expense management software, is designed to automate telecom invoice data input, and help review invoices for accuracy.
WHAT'S IDENTIFIED DURING An AUDIT?
During the telecom invoice audit process, common issues can become visible, such as:
Usage rate compliance
Long-distance charges on local invoices
Installation, termination & repair charges
3rd party billing
Slamming & cramming
Low and/or no usage lines
Valicom can set custom validation rules, so you can track telecom invoice data the way you want. Once the errors or over-billings are identified, the process of working with your telecom vendor to recover that money can begin.
Enhanced visibility allows you to evaluate if you’re getting the best deal for your various services and devices, or if you have more infrastructure than you need. That can save money too!
View our deployment options and request a demo to get started today!
What's Hiding in Your Phone Bill?
Businesses are overspending by as much as 50 percent on their telecom bills.
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.
Some companies use “cramming” to put a charge on the bill for a service you never ordered. These fees can often look like they’re part of another service, but are just making you spend more. Make sure to look over your bill carefully to identify any third-party charges.
Not all hidden fees are bad. The Universal Service Fund Fee puts money toward important areas like E-rate, state taxes and emergency response services. That being said, a good portion of your miscellaneous fees may be suspect so it’s a good idea to stay proactive in managing and auditing your invoices.
Telecom Bill Payment Service
Stop wasting. Start saving.
Paying telecom and wireless bills wastes time, energy and money. Cutting and mailing checks incurs a monthly cost and wastes valuable time to process each check and ensure it gets paid properly and on time. Even if you do electronic transfer, there are many ways it can go wrong without anyone noticing.
HOW THE BILL PAY SERVICE WORKS
Once the invoice data is loaded into the Clearview TEM software...
The audit is performed
The expenses are approved
The bills are paid
A data feed is sent to the accounting system
Each invoice is paid with an individual payment. This eliminates a common issue where lump payments are all applied to one invoice, leaving others unpaid to incur late fees and penalties.
This telecom bill pay service can be used whether our Audit Teams are doing the auditing and cost allocation or your in-house staff does it using Clearview.
Can Clearview track and process non-IT invoices such as utilities, freight/shipping, etc.?
Absolutely. Clearview can track any recurring invoices.
Telecom and Technology
Cost Allocation Service
Why Cost Allocation
One of the key ways to keep track of your telecom expenses is to setup proper cost allocation for each expenditure.
With our web-based telecom management software Clearview, telecom costs can be allocated to specific GL codes enabling reporting of costs by department, location, employee and more. This helps highlight where specific charges are originating.
Clearview assists in this task by allowing very granular telecom cost allocation. It can store accounting codes and then associate them with individual types of charges incurred by individual inventory items.
For example, the voice portion of a cell phone’s charges could be set to allocate to one code, and the data portion to another. Or, the voice portion could be split by percentage over 5 codes.
TELECOM EXPENSE TYPES
Wireline costs – a phone sitting on a desk
Wireless costs – a cell phone plan or the device itself
Internet service – wireless data plans or home internet connections
Other items like pagers, aircards and tablets
Then, once the data is entered, it can be set to interface with your internal AP system so that the charges flow to the codes that are already setup.
BENEFITS FOR Finance, IT AND TELECOM
Managers want to know who pays for telecom services, and how much they pay, so they can make intelligent decisions using that data. IT and finance both want deeper visibility into what is driving costs, and insight as to how the environment can be restructured to minimize the impact to the bottom line.
Invoice Approval Tool
An Easy WAY TO APPROVE INVOICES
ONE. Email NOTIFICATIONS
Once an invoice has been processed and audited by Valicom, it is ready to be emailed to an assigned approver(s). Approvers can be assigned by cost, GL codes, department codes, or even by locations. These rules are assigned at implementation.
When an invoice is ready to be approved, a secure email with link to the Clearview invoice queue is sent to the assigned approver. The user is prompted with a list of invoices pending their approval and provided with each invoice in the queue are sortable fields of charges, variance, account info, and any pertinent notes regarding the invoice.
TWO. Added to Queue for Payment
Once an invoice has been approved, it is added to the bill pay queue. Or if something looks incorrect, an invoice can be rejected and kicked back to Valicom for disputes or credit request.
5 INVOICE ERRORS YOU MAY BE MISSING
This white paper will cover some facts and statistics about common telecom and technology invoice errors, and five errors that internal telecom and IT teams often miss. We'll also cover the best practices for uncovering and getting credited for these errors to prevent future overspending.
COST SAVINGS ANALYSIS
Click the button and one of our specialists will contact you to schedule a risk-free consultation and cost savings analysis.