Acquisition Growth = More Work!
The airline industry is often fraught with service issues and this company with more than 200 airport locations across 6 continents was constantly working to ensure that their ground and cargo handling and other Executive services ranked above industry standards. Their team of passionate employees ensures that their clients receive the best service in the industry and their back office support has to match their tireless approach to best in class service.
Growth for this company was a daily occurrence however when over 100 locations was added to their already stretched accounts payable department, help was required. The acquisition added over 500 new vendors that had to be set up in their Accounting software, not to mention, each vendor had to have a Transfer of Liability completed on each account. Each Transfer of Liability would take approximately an hour to complete with obtaining the proper paperwork required by each vendor and then getting all of the appropriate signatures from both companies.
RadiusPoint was able to take a portion of the Acquisition load over from the Accounts Payable team by taking over the telecom, wireless and utility invoices. RadiusPoint contacted each vendor to request the Transfer of Liability documents, completed the documents with all signatures and then sent the information back to each vendor.
Because this company had opted for RadiusPoint to manage these invoices through the Telecom Expense Management, Wireless Expense Management and Utility Expense Management services, all invoices were redirected to RadiusPoint for monthly management and invoice processing. Each invoice was set up by phone number or meter number in ExpenseLogic, RadiusPoint’s proprietary software for the monthly audit, allocation and payment services.
Doing this work reduced the Acquisition workload for the Accounts Payable team by almost 250 hours!
RadiusPoint’s monthly Expense Management services for the Telecom, Wireless and Utility invoices creates a Return on Investment that averages over 400% each month.