RadiusPoint© Achieves SAS 70 Certification | Orlando, FL, September 14, 2011
RadiusPoint© announces the achievement of SAS 70 certification in September 2011. RadiusPoint© is one of a very few Telecom and Energy/Utility Expense Management providers that have this type of certification. This certification will assure the clients of RadiusPoint© that audited processes are being followed that will ensure the timely payment of their invoices and the ethical handling of all monies managed by RadiusPoint©.
Publicly held companies must follow Sarbanes-Oxley (SOX) regulations and many privately held companies are following suit because of the governing and transparency that is achieved. Congress passed the Sarbanes-Oxley Act in 2002 and there was a period of 3 years before the laws were enforced for the larger public companies in 2005.
Because of the high cost of corruption that has created many problems for organizations whether public or private, the government developed the groundwork for the SOX regulations, which will periodically change. The business excesses were created from some of the more notorious companies that took “liberties” in reporting their financial statements. The effort on the part of the government was to ensure to the stockholders and the public that the financial statements made by the publicly traded company was solid. Today the CEO and the CFO of these companies must sign off on the financials and any discrepancies that are found to be intentional could lead to fines and imprisonment. Any company that deals with presenting invoices for payment or managing the payment process should be SAS 70 certified. This would encompass Telecom Expense Management (TEM) and Energy/Utility Expense Management (UEM) firms since they are receiving the invoices from the vendor and presenting them for payment to their clients.
RadiusPoint’s© Telecom Expense Management (TEM) and Utility Expense Management (UEM) services involve a monthly management of the invoices and constant review of the charges from the vendors. The invoices are established in the ExpenseLogic™ software so that the charges for each location would be allocated appropriately and in a timely manner. RadiusPoint© has the invoices processed for payment and allocated within a few days of the receipt of the invoice from the vendor. The timeliness of the services enables the staff to review those important issues or services immediately and at their desktop instead of going through stacks of invoices.
ExpenseLogic™ is fifth generation technology-based, problem-solving software, used to manage the daily issues and invoices that stem from a company’s Telecom, Utility, Energy and IT expenses. To provide a complete solution a Provisioning and Help Desk portal allows a company to centralize and validate the entire Procure-to-Pay Lifecycle. The organizations will have this feature to manage and maintain the information for all orders placed as their locations continue to grow each year.RadiusPoint© provides a broad portfolio of business and technology expense management solutions to help its clients worldwide improve their business performance. Core services consist of Business Process Outsourcing (BPO), Software as a Service (SaaS), and License Software with respect to Telecom, Utility, Energy and IT invoice and expenses. RadiusPoint© uses ISO 9001 processes and meets government regulated standards (Sarbanes Oxley) through SAS 70 certification. RadiusPoint’s© corporate headquarters is based in Memphis, Tennessee with a service office located in Orlando, Florida and provides services worldwide.