Invoice Processing and Management
Perhaps one of the biggest hurdles to accomplishing real, long-term telecom expense savings is the overwhelming task of Invoice Management.
Consider These Typical Hurdles:
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The average Fortune 500 Company processes more than 15,000 telecom-related bills each year
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For large companies, most telecom invoices are more than 100 pages
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Even the average mid-sized corporation processes more than 3,000 telecom invoices annually
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Approximately 85% of mid-sized companies perform NO auditing of their telecom invoices, and pay the bills in full each month without ever recouping overcharges by carriers
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According to Gartner, as much as 20% of all telecom charges are inaccurate, with 85% of erroneous charge favoring the bottom line of the carriers
What Does This Mean to Your Company’s Bottom Line?
It means that, if you are not tracking and keeping on top of invoice processing, you could be overspending by thousands of dollars in the form of overpayment of invoices or paying the same invoice twice. Yes, it happens more often than you think. And don’t expect your vendors to let you know about it! Proper invoice processing is a critical challenge for many companies today.
Consider What This Margin of Error Could Mean for Your Corporation!
| AVERAGE MONTHLY TELECOM SPEND | POTENTIAL MONTHLY COST SAVINGS | PROJECTED ANNUAL COST SAVINGS |
|---|---|---|
| $25,000 | $4,250 | $51,000 |
| $50,000 | $8,500 | $102,000 |
| $100,000 | $17,000 | $204,000 |
| $500,000 | $85,000 | $1,020,000 |
| $1,000,000 | $170,000 | $2,040,000 |
While these eye-opening estimates represent real, hard cost to the company, a good invoice management solution can impact soft costs in the form of manpower and personnel time. When you consider that the average small to medium business processes more than 250 telecom-related bills monthly, and the average Fortune 500 process in excess of 1200 telecom invoices monthly, it’s obvious why so many corporations of all sizes are seeking invoice processing software and services.
Rely on TTI to provide Full-Service Invoice Management Solutions!
Tti Will Work with Your Corporation’s Current Telecom Invoice Management Process to Identify Ways To:
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Electronically import and process all telephone bills, wireless bills, data expenses and other telecom invoices significantly reducing staff processing and approvals
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Automatically audit all telecom invoices to ensure charges and applied rates are accurate
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Immediately file and track corrections with carriers to ensure refunds and overpayments are settled quickly and accurately
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Establish a centralized database of telecom expense activity with full reporting capabilities, including automatic monthly reporting and custom data mining
We Provide Valuable Solutions to Handle Your Invoice Management Needs!
Through WinBill®, one of the best telecom expense management software offerings in the industry, TTI provides you with a valuable solution for a majority of your telecom invoice management needs. In addition, TTI’s professional expense management experts can also assist you with a wide variety of consulting services. Contact us today to find out more about how TTI and the powerful WinBill® software can help your company reduce telecom costs as much as 20-35% or more.
