Solutions Explorer

Navigate the Buying Journey

Understanding your company’s intricate needs for processing invoices and managing expenses is the first step in your buying journey. Being able to see the outcome before you select a solution will not only save you time, but will give you and your team the assurances that you are going down the right path, with the right partner.

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Did you know?

According to an IOFM 2017 study – For moderate automation of your invoices or invoices received electronically your AP staff can process more invoices per FTE.

Average number of invoices processed by an FTE is 10,938 or approximately 68 invoices per hour.

Not enough personnel; too many invoices to process on time.

How many invoices can your team process in a day’s time?  Do you have enough people to get all of the invoices paid on time to avoid disconnects and service interruptions?

In today’s tight labor market, ensuring that your invoices are paid on time can be a never ending issue.  Getting behind is not an option but happens often when more invoices come in to be processed but there is not enough staff to handle the work. 

Some issues that we have resolved for current clients:

  • Eliminate the paper invoices
  • Eliminate late fees
  • Break down the invoice information into intelligent reporting
  • Creation of Accrual files

The Little charges add up! – An Expensive Water invoice lesson

    Identifying all of the charges on the water and sewer invoice sounds like a task too tedious for such a little reward.   Water tariff rates are typically set by the Water Company and there are only a couple available and most often, only one tariff that...

Sample Workflow Chart

What Departments will be involved in your decisions making process?

Ensuring that each department is fully on board with the solution will make the decision making process full proof.

Is the RadiusPoint solution the right one for your company?

Take a walk through the Solution to determine if we can meet your needs.

Disconnection of Services; Late fees from the vendor

Service disconnects can be costly, not only from the time it takes to research the past due charges, but also from the reconnection fees and service interruptions.   Loss of business can cost thousands of dollars for each day that a location cannot conduct business.  Avoiding the service interruptions should be priority number one for any Accounts Payable department. 

The RadiusPoint Invoice Processing service tracks the entire lifecycle of an invoice. The ExpenseLogic platform helps you manage the accuracy, processing, and payment of your telecom invoices. This includes loading both paper and electronic invoices into the system, coding the charges, creating an exceptions report, setting up approval for payment, and interfacing with your current financial systems.

Some issues that we have resolved for current clients:

  • Eliminate the paper invoices
  • Eliminate late fees
  • Break down the invoice information into intelligent reporting
  • Creation of Accrual files

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...

Sample Workflow Chart

What Departments will be involved in your decisions making process?

Ensuring that each department is fully on board with the solution will make the decision making process full proof.

Did you know?

Limited automation of your Accounts Payable department increases the processing cost per invoice to $8.78.

How many invoices is your Accounts Payable department processing each month?

Errors on the Invoices

Billing errors are the scourge of an efficient organization, and most companies don’t have the time or personnel for auditing and reconciliation of every invoice.  RadiusPoint’s invoice audits, error identification and reconciliation produce a savings of over 25% with no sales, no carrier or vendor changes required.  The reason is RadiusPoint’s software ExpenseLogic, takes the guesswork out of auditing and reconciling invoices on a monthly basis.  Limits are set for each line item and then ExpenseLogic audits against them on each and every invoice for maximum vendor accountability.  This billing invoice validation process is a proactive expense management approach and a proven method for saving money.

Amazing credits/savings that RadiusPoint has achieved for our Clients.

  • A Financial Services firm avoided $2,711.15 in monthly charges on a water invoice. ExpenseLogic identified the error by meter and it was found that there was a leak at the location. The vendor agreed to credit over the normal usage.
  • Over 800 phone lines for a salvage parts dealer that were not on the client’s long distance invoice that resulted in over $10K per month in savings.
  • A Nationwide retailer of Eye Glasses and Contacts with 800 locations saved $203,282.86 in 2017 due to optimization of electric and gas services in their deregulated states.
  • $1.4MM in errors billed on transportation companies wireless invoices for incorrect data plans. Credits were applied to the invoices and the plans were corrected.
  • Over $500K in credits for a client in 2016 from AT&T for contract rates overages. + $52K in credits for a Healthcare client for lines that were supposed to have been canceled but the vendor didn’t follow through.

Quick Service Restaurant Inventory = Half a million in savings.

Quick Service Restaurant Inventory = Half a million in savings.

Sample Workflow Chart

What Departments will be involved in your decisions making process?

Ensuring that each department is fully on board with the solution will make the decision making process full proof.

Is the RadiusPoint solution the right one for your company?

Take a walk through the Solution to determine if we can meet your needs.

Contract issues with your vendors

Managing the contract is the first step in ensuring that the rates promised during the sourcing and proposal process are being delivered. It assures and that any rate changes and discounts are realized on your bottom line. With RadiusPoint, all contracts can be attached in the software for easy desktop retrieval. Contracted rates are used to audit each applicable line item on the invoice. ExpenseLogic can set a limit for any line item detail identified in a contract, creating one of the most thorough continuous audits in the industry. Meticulous management of the contract ensures that the rates promised during the Proposal and Sourcing phases are being delivered, and that the savings show up on your bottom line.

Contract Management is easy with ExpenseLogic’s Contract Management database. The Contract Management database ties the service or devices and equipment with the contract and gives the capability to view the actual contract document. Email notification 90, 60 days prior to expiration ensures that your contract expirations won’t be missed.

Amazing credits/savings that RadiusPoint has achieved for our Clients.

  • A Financial Services firm avoided $2,711.15 in monthly charges on a water invoice. ExpenseLogic identified the error by meter and it was found that there was a leak at the location. The vendor agreed to credit over the normal usage.
  • Over 800 phone lines for a salvage parts dealer that were not on the client’s long distance invoice that resulted in over $10K per month in savings.
  • A Nationwide retailer of Eye Glasses and Contacts with 800 locations saved $203,282.86 in 2017 due to optimization of electric and gas services in their deregulated states.
  • $1.4MM in errors billed on transportation companies wireless invoices for incorrect data plans. Credits were applied to the invoices and the plans were corrected.
  • Over $500K in credits for a client in 2016 from AT&T for contract rates overages. + $52K in credits for a Healthcare client for lines that were supposed to have been canceled but the vendor didn’t follow through.

Promises, promises, promises – Major Challenges in Telecom Vendor Contract Woes

RadiusPoint saved their Client over $800k dollars due to incorrect data rate plans!

Sample Workflow Chart

What Departments will be involved in your decisions making process?

Ensuring that each department is fully on board with the solution will make the decision making process full proof.

Key Finding from Gartner

Recent Gartner survey respondents state that when deploying telecom expense management (TEM), the average total cost of ownership (TCO) reduction of communications services is 13% - with more than two in five enterprises reporting a TCO reduction of between 10% and 20%.   Furthermore, 36% of enterprises saw a reduction of less than 10%.

Market Insights December 20, 2018

A $10MM in Annual Telecom spend

An Average of 13% TCO reduction

would create $1.3MM savings