Contract and Invoice Management
Using the ExpenseLogic software platform RadiusPoint neatly organizes invoices and contracts so they can be easily viewed at the touch of a button. Comprehensive document imaging, management, and archival allows managers to effortlessly oversee the costs of the organization.
Managing the contract is the first step in ensuring that the rates promised during the sourcing and proposal process are being delivered. It assures and that any rate changes and discounts are realized on your bottom line. With RadiusPoint, all contracts can be attached in the software for easy desktop retrieval. Contracted rates are used to audit each applicable line item on the invoice. ExpenseLogic can set a limit for any line item detail identified in a contract, creating one of the most thorough continuous audits in the industry. Meticulous management the contract ensures that the rates promised during the Proposal and Sourcing phases are being delivered, and that the savings show up on your bottom line.
While the reports within ExpenseLogic are fully automated and complete with granular detail of each invoice, there are times when the invoice itself is needed for a clearer understanding of expenses. ExpenseLogic allows a permission-based user to review invoices at a desktop, send the invoice via email to departments, or save the invoice to a website for others to view. Enabling high visibility and ease of access helps your departments manage the expenses, and share information in an efficient manner.
Invoice processing Savings!
The RadiusPoint Invoice Processing service tracks the entire lifecycle of an invoice. The ExpenseLogic platform helps you manage the accuracy, processing, and payment of your telecom invoices. This includes loading both paper and electronic invoices into the system, coding the charges, creating an exceptions report, setting up approval for payment, and interfacing with your current financial systems. We can also take responsibility for any Moves, Adds, and Changes, as well as making direct payments to vendors on your organization’s behalf.
The reporting system in the ExpenseLogic platform allows you to drill down expenses in real time by Type, Cost Center, Location, Vendor, User, Region, etc. The managed services solution reconciles the invoices down to the line item level to immediately identify overcharges and errors.
• Loading invoice (paper or electronic) into ExpenseLogic
• Checking for duplicate invoices
• Checking for new accounts
• Closing services at old locations
• Elimination of late fees
• Missing invoice research
• Creation of General Ledger interface file
• Creation of Accrual file
• Scanning and archival of invoices
Invoice Audit with Error Identification and Reconciliation
Billing errors are the scourge of an efficient organization, and most companies don’t have the time or personnel for auditing and reconciliation of every invoice. RadiusPoint’s invoice audits, error identification and reconciliation producing a savings of 7 - 35% with no sales, carrier, or vendor changes required.
The reason is RadiusPoint’s software ExpenseLogic, which takes the guesswork out of auditing and reconciling invoices on a monthly basis. Limits are set for each line item, and then ExpenseLogic audits against them on each and every invoice for maximum vendor accountability. This billing invoice validation process is a proactive expense management approach, and a proven method for saving money.
Some of the savings indicators we see are:
- Many small office locations
- Decentralized: all bills sent to various office locations
- Frequent changes in lines, service address, features, or configurations
- No dedicated staff to manage new service adoption or service migration (e.g., VoIP MPLS)
- Rapid network expansion or contraction without managing consolidation of service contracts
- Mergers, acquisitions, divestments, or sales channel changes
- No continual management of contractual commitments or expiration dates
- No management of rebates, allowances, and discounts
- No ongoing optimization of contract terms
If any of these apply, RadiusPoint invoice auditing can reduce your expenses.
Business intelligence is at the heart of what RadiusPoint’s ExpenseLogic software was written to do. Utilizing the latest in techniques and tools, ExpenseLogic transforms your raw data into meaningful and useful information through real-time detailed reporting via dashboards, Excel files, PDF’s, etc. to give granular views into your Communication, Telecom, Wireless, Utility, and Loss Prevention Invoices through reporting analytics.
Communication, telecom, and utility expenses are often the second or third largest business expenses after payroll. ExpenseLogic’s extensive data capture and reporting capabilities will ensure your spend is correct before payment leaves your office. Employing a robust permissions-based web reporting tool, ExpenseLogic gives each member of your team exactly the level of detail they need to be effective.
RadiusPoint takes a tailored set-up approach with ExpenseLogic, building into the database every detail that makes your organization run efficiently. ExpenseLogic allows for all impossible-to-manage invoices to be easily administered, audited, and paid on time.
A few of the reports that are offered:
- Dashboard Views
- SQL Ad Hoc Query
- Exception Reporting
- Long Distance Audit by Service type
- Long Distance Audit Monthly Service fee
- Long Distance Line Analysis
- Long Distance Vendor Call Accounting
- PBX Call Accounting
- Minimum Annual Revenue Commitment (MARC) Analysis
- Invoice Approval
- Invoice Image
- Missing Bill Reporting
- Wireless Zero Usage Reporting
- Wireless Device Reporting
- Wireless Plan Reporting
- Wireless Inventory
- Wireless SQL Ad Hoc Query
- Help Desk Management Reporting
- Inventory Database
- Equipment Maintenance and Lease Database
- Contract Repository
- Inventory Report
- Master Detail and Summary reporting
- Currency Converter
- Scheduled Reports
- Site Comparison Report
- Date Comparison Report
- Meter Usage Analysis Report
- Utility Usage Ranking Analysis Report