What does this mean to your company’s bottom line?
Proper invoice processing is a critical challenge for many companies today. Consider what this margin of error could mean for your corporation.
Perhaps one of the biggest hurdles to accomplishing real, long-term telecom expense savings is the overwhelming task of Invoice Management. Consider these typical hurdles:
According to Gartner, as much as 20% of all telecom charges are inaccurate, with 85% of erroneous charge favoring the bottom line of the carriers
Approximately 85% of mid-sized companies perform NO auditing of their telecom invoices and pay the bills in full each month without ever recouping overcharges by carriers
For large companies, most telecom invoices are more than 100 pages
The average Fortune 500 Company processes more than 15,000 telecom-related bills each year
While these eye-opening estimates represent real, hard costs to the company, a good invoice management solution can impact additional savings in terms of soft costs for manpower and personnel time. When you consider that the average small to medium business processes more than 250 telecom-related bills monthly, and the average Fortune 500 process in excess of 1200 telecom invoices monthly, it’s obvious why so many corporations of all sizes are seeking invoice processing software and services.
Rely on CDP to provide full-service Invoice Management Solutions
CDP can help you get a handle on this overwhelming burden on your staff through a wide range of invoice management consulting and services.
CDP will work with your corporation’s current telecom invoice management process to identify ways to:
Electronically import and process all telephone bills, wireless bills, data expenses, and other telecom invoices significantly reducing staff processing and approvals
Automatically audit all telecom invoices to ensure charges and applied rates are accurate
Immediately file and track corrections with carriers to ensure refunds and overpayments are settled quickly and accurately
Establish a centralized database of telecom expense activity with full reporting capabilities, including automatic monthly reporting and custom data mining