Among the major challenges that organizations face today are inefficient labor-intensive processes, limited visibility, lack of accountability, and higher costs to manage telecom. These challenges, in turn, lead to the following issues:
- High labor expenses
- Invoice processing inefficiencies
- Delays in bill processing
- Lost bills and manual search for billing information
- Overpayment for billing errors and duplicate payments
- Limited visibility into spending and total lack of visibility into category performance
- Lack of automation for flagging contract expiration
- Ineffective performance analysis
- Delays in budget planning
- Lack of control over expenses
- Ineffective dispute management, escalation, and unresolved claims
Avotus ICM EM Finance
The Expense Management Finance module enables management of the invoices of the network services inventories of customers. The invoice processing and management functions of the module help customers in controlling invoice entry, reconciliation, payment, and internal chargeback processes.
The Invoicing module is fully integrated with the Inventory and Purchasing modules and enables effective management of invoices for the network services inventory of customers. With further growth of the network services inventory and related invoices of the customer organization, invoice processing becomes overwhelming. Invoicing helps in managing these invoices by tracking the progress of their processing. As an invoice is received, reviewed for accuracy, and, ultimately, approved for payment, the Expense Management system tracks these events.
- With accurate invoice information, disputes can often be settled within, as little as, a single billing cycle. This is where all of the hard work involved in purchasing and inventory management really pays off.
- Most importantly, the customers only pay for services that they actually use and benefit from.