RadiusPoint© creates 448% ROI for National Healthcare Provider | Orlando, FL, November 13, 2009
RadiusPoint© announces a 448% ROI for a nationwide healthcare provider during the first six (6) months of partnership. A healthcare organization with 275 locations nationwide had several issues that RadiusPoint© has been able to resolve. The organization has locations that range in size and vary in services provided – from extended living facilities to complete medical facilities. The organization was having two common issues with decentralized spending and lack of an accurate inventory of telecom services.
Upon partnering with RadiusPoint© it was found that there were no standards being followed when ordering telecom services or when paying telecom invoices. Each location received and submitted payments for their telecom invoices on a monthly basis. The invoices were sent to the individual location and the location then approved the invoice and sent it to corporate for payment. This lag time created past due fees and created headaches for the Corporate Telecom department because management of the services and invoices was impossible.
RadiusPoint© centralized the invoices by contacting each vendor to have the invoices sent to RadiusPoint’s© Orlando facility to be processed for payment. Additionally, a concise list of invoices and services was created by location to enable the Corporate Telecom department to readily identify what services were being utilized at each location. Providing this list of costs by location through RadiusPoint’s© proprietary software, ExpenseLogic™, enabled the Corporate Telecom department the ability to cut costs for services not needed. This reporting also allowed the organization to identify areas where services and equipment could be upgraded or altered to create savings.
The 448% ROI that RadiusPoint© created through this partnership involved savings in the following areas:
- Elimination of late fees due to decreased time necessary for processing the telecom invoices.
- Eliminated manual tasks associated with processing the telecom invoices.
- Created reporting that identified overcharges and eliminated those overcharges.
- Created reporting that increased efficiency.
Additionally RadiusPoint© identified and received on behalf of the Client, almost $19,000 in refunds that went directly to the organizations bottom line.
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 fourth 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 with services provided worldwide.
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