Telecom | Wireless Manager
Telecom and IT Managers have never been faced with so little time and resources to manage Big Data that is now coming from many of their vendors. The transformation of the IT and telecommunications services has accelerated to a fast paced, ever moving target. Costs should be optimized and Data Analytics should be sent directly to your Business Units with RadiusPoint’s services and software tool, ExpenseLogic. This is a necessary component for managing the IT expenses for your locations. However, this can be overwhelming without the invoice images, invoice data and contracts at your fingertips.
Frequently Asked Questions
Can we manage all of our devices and users in one portal?
Yes, ExpenseLogic has a full inventory repository that will track the equipment by user, serial number, lease information, and cost.
Can the solution manage our IT equipment that is located at each facility?
Yes, ExpenseLogic has a full inventory repository that will track the equipment by serial number, lease information, and cost.
Can the solution create split billing for circuits that are billed to more than one locations?
Yes, any charge can be split between multiple Cost Centers or locations.
Is there a Service or Equipment ordering portal available?
Yes, the Intelligent Queue is a site that can be tailored to your company’s specific equipment and service needs, with an Amazon style shopping site. All orders flow into the portal that allows for RadiusPoint’s team to place the order with the vendor and track the receipt of the equipment or services.
Can the solution manage our various vendor contracts?
ExpenseLogic has a Contract Management component that manages all contract information, the contract image, the expiration dates and the contract rates. The most exciting component is the contract rates that can be tied to each phone or circuit number or meter number by line item for the most thorough audit in the industry.
What report formats are available?
There are many report view with grids and charts with all information capable of being exported to Excel, CSV and PDF. In addition, many reports can be scheduled to email out on a monthly basis.
Will the solution identify past due invoices before Disconnects occur?
RadiusPoint works the Missing Bill report on a daily basis. ExpenseLogic has the Missing Bill report as a standard report that will allow our team to search for invoices that have not been received within a specific time period. The Missing Bill report feature also allows for tracking of the conversations with the vendors to retrieve the invoices and reminders if the invoice is not received and entered within a specific timeframe.
Will the invoices be audited, how does this occur?
ExpenseLogic, RadiusPoint’s proprietary software will audit each invoice based on the Account number, the Service ID (phone, circuit or meter number) and then each charge for each Service ID. The auditing by line item detail is one of the most efficient methods that audits each charge, each month in an automated manner. RadiusPoint would then research each overage with the vendor and reconcile and resolve the over charge. In addition, the credits pending will be tracked through ExpenseLogic until the credit is received.
How much time is going to be needed to interact with the solution provider’s team?
The goal is to drastically reduce the amount of time that your team has to interact with your vendors. Questions that occur on the invoices such as new services added would be questioned by RadiusPoint however many of these type of questions can be resolved by copying RadiusPoint on the orders to the vendors.
What detailed information will be available in report formats?
There are many Adhoc reports available in ExpenseLogic detailing all invoice information and costs by Service ID (phone, circuit or meter number). In addition, there is an SQL Query feature that allows for reporting of every field of information that is tracked and managed in ExpenseLogic.
Is the RadiusPoint solution the right one for your company?
If you are ready to get started, click Request a Free Demonstration and let’s schedule a time to discuss your needs and challenges.
What are some of your Needs and Challenges?
Learn how the RadiusPoint Solution can assist you. Click Below to explore common needs and challenges.
Not enough personnel
How many invoices can your Accounts Payable team process each day? Do you have enough people on staff to get all vendor invoices paid on time to avoid disconnects and service interruptions?
In today’s tight labor market, ensuring that your invoices are paid on time can be a problematic issue. “Getting behind” should not be an option… Yet, this happens often when a large number of invoices come in to be processed and your AP department is understaffed.
Too many invoices to process on time
Examples of issues resolved for our clients:
- Eliminating paper invoices
- Eliminating late fees
- Breaking down invoice information for intelligent reporting
- Creation of Accrual files
Vendor contract management issues
Managing vendor contracts is the first step in ensuring that the rates promised during the sourcing and proposal process are actually delivered. Vendor contract management ensures your organization that any rate changes and discounts flow through to its bottom line.
In ExpenseLogic, our business intelligence SaaS platform, all vendor contracts can be digitalized for easy desktop retrieval. Contract rates are used to audit each line item on an invoice. ExpenseLogic can set a limit for any line-item detail identified, resulting in one of the most thorough, continuous audits in the industry.
Vendor contract management is simplified by ExpenseLogic’s Contract Management database. This database ties services, devices, and assets to a vendor contract, and gives management and AP staff a view of the actual contract document. Email notifications 90 and 60 days prior to the expiration date ensure that contract expiration dates won’t be missed.
Contract Management is easy with ExpenseLogic’s Contract Management database. The Contract Management database ties the service or devices and equipment with the contract and gives the capability to view the actual contract document. Email notification 90, 60 days prior to expiration ensures that your contract expirations won’t be missed.
Examples of credits/savings obtained for our clients
A financial services firm avoided $2,700 in monthly charges on a water invoice. ExpenseLogic identified the problem at the meter level: there was a leak at the location. The vendor agreed to recredit the difference with normal usage.
A salvage parts dealer had 800+ phone lines, not their long-distance plan: moving these lines to the correct plan resulted in $10K+ in monthly savings.
A nationwide retailer of eyewear (glasses and contact lenses) with 800 locations saved $203K+ through an optimization of their electric and gas service contracts in deregulated states.
A transportation company was charged $1.4MM in erroneous billing by their wireless carrier, under incorrect data plans. Credits were applied to the invoices and the plans were corrected.
AT&T recredited a client some $500K+ previously billed for contract rates overages.
A healthcare client obtained $52K+ in credits on phone lines the vendor had erroneously forgot canceling.
Read More…
Errors on invoices requiring an investigation
Billing errors are the scourge of an efficient organization, and most companies don’t have the time or personnel for auditing and reconcile every invoice. RadiusPoint’s invoice audits, error identification and reconciliation process generate savings of over 25% with no sales, no carrier, and no vendor changes required.
RadiusPoint’s business intelligence SaaS platform ExpenseLogic takes the guesswork out of auditing and reconciling invoices on a monthly basis. Limits are set for each line item for ExpenseLogic to audit against them on each invoice. This optimizes vendor accountability. Our billing invoice validation process is a proactive expense management approach and a proven method for saving money.
Read More…
Late fees charged by vendors
Unless their contract stipulates otherwise, vendors typically charge late fees on unpaid invoices. According to an article published in Business.com, “Most late fees are between $25 and $50… Some companies use a percentage of the invoice amount to calculate the late fee.”
When the Accounts Payable department of an organization is understaffed or faces a sharp increase in the number of invoices to process (which often happens in fast-growth scenarios), late payments become a daily event. The additional costs of late fees can become significant.
Moreover, tying up late fees to invoices in an accounting system generates extra operations and an increase in time wasted unproductively. Instead of focusing on tasks generating value, Accounts Payable is catching up with unnecessary re-work.
RadiusPoint’s Invoice Processing service tracks invoices along their entire lifecycle. Our process systematizes the workflow from receipt of vendors’ invoices to their on-time payment. As a result, late fees are eliminated, and the efficiency of the process precludes non-necessary operations. The Accounts Payable staff can spend their time on productive tasks, and the resulting savings flow all the way to the bottom line.
Read More…
Service disconnects
Service disconnects are costly. Not only do they entail spending time investigating past-due charges, but also calling vendors to tackle service reconnection, often with associated reconnection fees. Even more importantly, service interruptions are disruptive to normal business operations. The cost of an interruption in phone service can be staggering in terms of lost business opportunities. Avoiding service interruptions should be priority #1 for any Accounts Payable department.
Our Invoice Processing service tracks all invoices along their entire lifecycle. Our ExpenseLogic platform helps organizations with multiple locations manage the accuracy, processing, and payment of all telecom and utility bills.
Our services include inputting both paper and electronic invoices into ExpenseLogic, coding charges, creating exceptions reports, setting up approvals for payment, and interfacing our platform file outputs with the organization’s current financial systems.
Examples of issues resolved for our clients
- Eliminating paper invoices
- Eliminating late fees
- Breaking down invoice information for intelligent reporting
- Creation of Accrual files
Read More…
