As promised in the article about Asset Management, this topic covers Invoice Validation.
Invoice Validation isn't an easy task. It requires a system that can be performed on a regular basis to discover discrepancies and errors, as well as using it as a method for determining waste and redundancy in other facets of TEM. With all assets and services available in one centralized database, assets can be checked against invoices to gain an exact picture of a company's expenditures. From there, recommendations can be made to streamline the system.
Software is the best method of handling Invoice Validation. Telecom Expense Management coupled with an effective and comprehensive software system can check invoice charges for accuracy, and create a list of charges and exception information. Those exceptions are then resolved and noted for future use. The software provides a system to account for all cost exceptions and changes.
This process of Invoice Validation done with software will greatly reduce the time spent manually checking your telecom assets and services against the invoices. It is simply a task too complicated to do otherwise. The premise behind TEM is to reduce costs and increase your bottom line. You could hire a handful of people to try to track all expenditures, check invoices and bills, and otherwise keep track of it all, but that would be counter-productive. It would be wise to automate the process and put those people to work in a productive position and let the TEM team and the software do the job for you.
Look for the next installment in the series, called Expense Optimization.
Robert is currently working for Integrity Communications , a business specializing in Telecom Expense Magagement. He lives in eastern Kansas. A retired police dispatcher, he now resides in the country with his wife and 2 of his 3 sons. Toss in a couple of dogs and a few cats and you have the rest of the crew. He is a freelance writer who has created articles on subjects such as police work, scanners and 2-way radios, motorcycles and motorcycle painting, promotional advertising products and marketing. Click here to see some of the offerings from Integrity Communications.