Major challenges that organizations face today are inefficient labor-intensive processes, limited visibility, no accountability and higher costs to manage telecom, which leads to:
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High labor expenses
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Invoice processing inefficiencies
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Delays in processing bills
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Lost bills and manual search for billing information
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Overpayment for billing errors and duplicate payments
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Limited visibility into spending and no view into category performance
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No automation for flagging contract expiration
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Ineffective performance analysis
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Delays in budget planning
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Lack of control over expenses
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Ineffective dispute management, escalation, and unresolved claims
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Avotus ICM EM Finance
The Expense Management Finance module is to manage the invoices of the network services inventories of the Customers. Its invoice processing and management functions help customers to control invoice entry, reconciliation, payment and internal chargeback processes.
Fully integrated with the Inventory and Purchasing modules, Invoicing allows you to effectively manage the invoices for your network services inventory. As the network services inventory and related invoices in your organization grows, the processing of the invoices can quickly become overwhelming. Invoicing helps you manage these invoices by tracking their progress as they are processed. As an invoice is received, reviewed for accuracy and ultimately approved for payment, the Expense Management system tracks these events.
Benefits:
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Armed with accurate invoice information, disputes can often be settled within as little as one billing cycle. This is where all of the hard work involved in purchasing and inventory management really pays off.
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Most importantly, you’ll know that you are only paying for services that you have actually used, and that you’re getting the full benefits of what you negotiated for in your service provider contracts.
