Orlando, FL, November 30, 2015 — RadiusPoint provided cost saving Inventory and Audit services to this Financial Services Retailer with corporate headquarters located in Tennessee that resulted in an annual savings of $137,000.00, with no reduction in service levels. This organization operates five different corporate logos under the parent company. They have more than 1,500 locations in 30 states and trash services is required for each location.
Trash services are most often viewed as a commodity expense, with no real choices in vendor selection. The cost was just budgeted each year with no real expectation of reducing expenses. RadiusPoint tackled this project through an Inventory and Audit that uses RadiusPoint’s proprietary software, ExpenseLogic to track all services down to the line item on a monthly basis, measured against the contract information and physical contract documents. During this project, all contracts were identified, set up in the ExpenseLogic Contract Management tool and set up for continual auditing during the monthly Invoice Processing services.
The first area of concern addressed by RadiusPoint’s staff was the over 200 contracts that the client already had in place with multiple vendors. The client had signed multiple twelve (12) month agreements that were expiring or renewing on average of 41 per month. This company did not have time to deal with the multiple renewals, much less time to negotiate new terms. Using ExpenseLogic, RadiusPoint’s proprietary software, allowed for detailed client-side reporting of all end user services at each location with full transparency.
Once the appropriate information to right size/like size the services at each location was gathered, a Request for Proposal (RFP) was submitted to the major vendors for pricing. RadiusPoint was able to negotiate a new agreement for 514 of the locations. This substantially reduced the number of contracts and vendors resulting in the savings of $137K on an annual basis.
RadiusPoint’s Telecom Expense Management (TEM), Utility Expense Management (UEM), and Loss Prevention Expense Management (LPEM) services and Mobile Device Management (MDM) involve a monthly management of the invoices and constant review of the charges from the vendors. After setting up the new invoices in ExpenseLogic, the monthly management of the client’s trash services became efficient and thorough. The invoices were established in the ExpenseLogic software so that the charges for each location would be allocated appropriately, in a timely manner, and audited for contract rate validation. The timeliness of the services enables the staff to review those important issues or services immediately, at their desktop, instead of going through stacks of invoices.
ExpenseLogic is sixth-generation, technology-based, problem-solving software, used to manage the daily issues and invoices that stem from a company’s Telecom, Utility, IT, and Loss Prevention 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. All of this functionality for Telecom, Loss Prevention, and Utility invoices and expenses are provided on one software platform, which is unique in the Expense Management field.
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 Licensed Software with respect to Telecom, Utility, IT, and Loss Prevention invoice and expenses. RadiusPoint uses ISO 9001 processes and meets government regulated standards (Sarbanes Oxley) through SSAE No. 16 certification. RadiusPoint’s corporate headquarters is based in Orlando, Florida and provides services worldwide.
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