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Financial Assurance

Small to medium CSPs, Resellers and Large Enterprises often spend considerable time and resources to acquire, validate and reconcile the accuracy of their vendors’ monthly operating costs and billings. They obtain files, disks and thousands of pages of invoices from vendors that include various detailed charges for network access, leased facilities and equipment, new content services, service charges and directory items. As these entities continue to diversify and grow, chances are that discrepancies will increase. This causes a surge in unnecessary costs, record fallout, pervasive data integrity issues, missing account detail and uncollected revenues.

Financial-Assurance

Vertek’s software as a service-based (SaaS) -Financial Assurance is a managed service solution that automates invoice/cost management, and proactively identifies issues and conflicts between carriers and other third parties. It also provides portal access to manage and resolve these issues. Rapid deployment and support by our seasoned project management team means that you’ll quickly get carrier costs under control, capture lost revenue and reduce unnecessary costs.

Features

  • SaaS-based solution
  • Automated invoice/cost management
  • Provides portal access to manage and resolve issues and conflicts
  • Complete invoice ingestion and organization – paper and electronic
  • Enhance business rules to create alerts
  • Dispute management
  • Inventory module
  • Canned reporting
  • Ad hoc report creation

Common Uses

  • Identify issues and conflicts within carrier-to-carrier or other third party partner invoices
  • Monitor progress of monthly vendor costs, network utilization and customer revenue performance
  • Automated acquiring and processing disparately formatted monthly billing files and paper invoices
  • Ingest, track and store all invoice costs data and circuit inventory
  • Rationalize invoices and reconcile them with growing volumes of usage transactions, order and inventory records and contract and enterprise data
  • Associate and flag billing discrepancies with key historical information
  • Analyze contract-to-bill discrepancies
  • Reduce implementation timeframes
  • Dispute filing and management
  • Correct problems with high levels of churn, slowed revenue growth and/or products not meeting forecasts
  • Manage higher than forecasted credits and high-risk customers to correct margin and profitability problems
  • Capture missing accounts, unprocessed disconnects and records fallout
  • Recover revenues, baseline costs and conduct margin analysis to positively impact client bottom line

Value to You

  • Rapid deployment (within 60 days)
  • Employees and systems operate more efficiently
  • Better manage vendors and gain insight for future negotiations
  • Carrier costs are always under control
  • Catch billing discrepancies
  • Resolve historical disputes
  • Provide documented proof needed to support disputed claims and have timely credits issued
  • Resolve partner conflicts
  • Capture lost revenue
  • Reduce unnecessary costs
  • Save time and internal resources

Differentiators

  • Proven SaaS platform utilized widely in the industry
  • Centralized seasoned project management team with domain experience and customer experience focus
  • Experienced in conflict management
  • Highly responsive, flexible and nimble to meet rapidly changing needs of our clients