Inventory management is one of the eight cornerstone functions of ExpenseLogic®, our business intelligence SaaS platform. This brief case study covers the way RadiusPoint helped a local county government bring their technology asset inventory under control, with associated savings.
Any organization with a large number of technology assets needs to be able to track their inventory of equipment, lines, and services. When the organization has local sales points or business units (or, in the case of a county, departments), inventory management has to be carried out down to the local level to assign assets and usage to the correct cost center.
A county government in Tennessee had no inventory of their telecom services, POT lines, circuits and devices. The county staff was overwhelmed just to get the service invoices processed and paid on time. The breakdown of invoices for cost allocation and IDB reporting was taking place weeks after they had been paid. This delay in data analytics made it impossible for county officials to make informed, timely financial decisions.
With ExpenseLogic, RadiusPoint had the capability to assist county officials with their big data needs, identify their telecom inventory, and store inventory and vendor information: landline, wireless and circuit numbers, wireless device serial numbers, router and PBX information.
Our initial Inventory & Audit service gathers the information, which is then stored in ExpenseLogic. This information is readily available when county officials need to retrieve specific data about services and equipment used by any given department (location, in the case of a multi-location organization). The inventory management system in ExpenseLogic is a time-saver for Facilities and Telecom/IT teams. Even more importantly in the case of this county, it generated savings by allowing county officials to cancel unnecessary services with resulting cost savings in vendors’ invoices.
With RadiusPoint invoice processing and allocation, the county government was able to see soft-dollar savings monthly. Additionally, inventory reporting allowed an automated split allocation of equipment shared by multiple departments.
Furthermore, the capabilities of ExpenseLogic make it possible for county officials to make well-informed and timely financial decisions as inventory management data is readily available through input, storage, retrieval, and analysis.