Challenges
An enterprise processes thousands of communication, Software-as-a-Services, and other digital service invoices from various service providers a year of Information & Communication services like voice, data, video. This is a very tedious task across multiple location, vendor codes, various services: managing & controlling Digital & ICT spend becomes very intricate activity, especially with resources being scarce and ill-equipped for the job at hand.
These inefficient labor-intensive processes, limited visibility, lack of proper validation in charges, no accountability and higher costs to manage ICT leads to
• Invoice processing inefficiencies
• Delays in processing bills
• Lost bills and manual search for billing information
• Over-payment for billing errors and duplicate payments
• Limited visibility into spending and no measures to compute performance
• No automation for flagging vendor contract expiration
• Ineffective performance analysis
• Delays in budget planning
• Lack of control over ICT expenses
• Ineffective dispute management, escalation, and unresolved claims
Solution
Transition your manual & laborious invoice management activities to a systematic financial disciplined way – Free up your team’s valuable time from Processing paper and electronic billing media, validating invoice accuracy, performing cost allocations [mapping AP/GL codes, cost centres], securing payment approval and paying bills
Activities
- Invoice receipt / receipt logging
- Invoice data load into technology system
- Invoice charge validation
- Cost center / chargeback allocation
- Invoice approval
- Generating payment batch files
- Invoice remittance / funds transfer
- Payment reconciliation
- Payment dispute resolution
Benefits
- Control & Manage invoice entry, reconciliation, payment
- Review invoice for accuracy
- Tracking invoice progress as they are process
- Control on aforementioned discrepancies
- Accurate Charge validation
- Avoid duplicate charges, and late payments
- Move your key personnel to more strategic activities
- Free your limited resources from the manual tedious daily activities