Telecom Woes- A Restaurant’s (QSR) Experience
For most enterprises across the nation, it is not a question of if you are overpaying on your telecom spend – it is a question of how much you are overpaying. The need for daily management assistance with telecom vendors and telecom services has immensely grown due to its tedious nature. However, locating the right provider to assist in these areas can either make or break the business. One restaurant chain with over 500 locations had an unfortunate experience of vendors contacting them with a promise of savings that was never followed through, resulting in service outages and ambiguous invoices.
Fortunately, RadiusPoint©, an expert in the field of Telecom Expense Management was able to get in contact with this organization and combine their extensive experience and knowledge, coupled with a robust software platform, ExpenseLogic™ to provide invoice processing and expense management services for their telecom services and bills. These services included:
- Management of their invoices from receipt to verification
- Payment to vendor
- Archival of the invoice image for future needs
- Identify billing errors and fees routinely
- Determine what inaccuracies need to be corrected/optimized
The allocation of the expenses down to a specific type and location was a benefit that saved this organization’s staff time and money. Additionally, RadiusPoint© was able to provide inventory and optimization management by streamlining services and tracking their equipment.
RadiusPoint© began in January 1992 with a focus on telecom and utility audits as well as inventory management. In early 1996, RadiusPoint’s© CEO, Sharon Watkins, was approached by a large oil and gas company for the monthly Expense Management services for their 10,000 locations. “No software existed to manage this in an automated manner,” stated Watkins, “so we began the development of what is now our ExpenseLogic™ software.” The ExpenseLogic™ software finished development in June of 1998 and was used for the first Expense Management Client in October of 1998.
Utilizing our proprietary SaaS, ExpenseLogic™, allows for a monthly line item audit which encompasses services for telecom, including landlines, data circuits, wireless services, as well as energy, water, gas, electric and trash. Errors are identified and reconciled with the vendor, which creates a credit or refund situation and avoids any future costs for those same charges. These charges are detailed and reported to the client when the credit on the invoices appears or the refund check is received. These activities impact the Client’s bottom line and ensure a positive ROI!
We have consistently surveyed our clients to determine what challenges they are facing daily to manage their telecom and utility services. Armed with this information, RadiusPoint© continues development of the software, ExpenseLogic™, which is now in its eighth generation.
Our number 1 priority is peace of mind that you are on the right plans, receiving the best pricing, and are utilizing the appropriate technology for your current and future needs. It has resulted in our client’s saving millions without having to allocate their own resources.