Putting puzzles together as a kid was fun when you had all the time in the world to spend on such things. As an adult, piecing together the puzzle of the communications and utility invoices is time-consuming and just not fun. Identifying all of the services that your organization is billed for in the Communications or Utility area can be a daunting feat. Just the sheer volume of bills can make the telecom or utility team run for cover if an audit is mentioned. Choosing a partner to perform expense management services and ongoing audits can lessen the complexity and tediousness of doing it alone. Previously the question about Contingency based audit versus Flat fee audit was raised and which service model best fits your organization.
So what information should your organization expect to receive from a Flat fee audit and how long should the process take? There are multiple steps in performing either the Communications or Utility audit and the timeframe to completion will depend on the size of your organization and the complexity of the invoices and services included in the audit.
Some of the areas that should be included in the Audit report are Environment Discovery, Performance Benchmarking, and Recommendations.
The detail should be such that it allows the client to make important business decisions based on the data provided. Some of those details should include:
- Identifying telecom service components, configurations, and charges from customer service records, invoices, and supportive vendor collateral
- Comparing invoiced services to organizational locations
- Performing local voice services line verifications to confirm technical availability, identifying orphaned services, and ensuring invoiced services belong to the invoiced organization
- Performing wireless device verifications to confirm technical availability, identifying orphaned services, and ensuring invoiced services belong to the invoiced organization
- Documentation of financial errors in the form of Discoveries
The initial part of the audit process that includes gathering information, reviewing contracts and interviewing personnel regarding current processes will take several weeks. After this time the actual inventory process depends on the number and complexity of the invoices.
RadiusPoint provides one-time Professional services in the form of Communications audits or Utility audits. Additionally, the ongoing audit is performed on a monthly basis with ExpenseLogic, RadiusPoint’s proprietary software. This software allows for the invoice to be audited before payment to ensure accuracy in billing and validates services are billed to the correct location.
To learn more about RadiusPoint services, visit our website or contact us to speak with a representative!