Vendor Bill Reconciliation
-- 100% accuracy within minutes --For every change in the user environment - installs, moves, adds, changes - there is a corresponding change on the vendor bill. Thus for every invoice it is essential to validate that today's charges are accurately portraying today's use and ownership. A comparison to last month's bill will not validate the service order activity and other charges and credits on current billing. To accomplish a true reconciliation, there must be an integration of service orders, assets and vendor bills - which FTS provides.
Regardless of how many invoices you process, from which vendor, in whatever complex billing format or media, FTS performs a monthly automated billing reconciliation comparing and approving the charges. The Vendor Bill Reconciliation feature reconciles the bill by BTN or vendor account, comparing all inventory, service orders and miscellaneous charges and quantities for the specific bill period to the Service Order, Contract Management and Asset Management information in the FTS database. If there is an error on your vendor bill FTS reconciliation will find it!
Various management control reports are generated showing all charges and quantities that have reconciled and all charges and quantities that have not. Included in these reports are the causes as to why charges or quantities did not reconcile.
Value on Investment.- Quick identification of over-billings, charges for unused assets or unapplied credits and discounts to show the vendor and justify a refund.
- Catching errors month one.
- Automation of a manual and time consuming task, freeing up days each month that could be spent on more productive issues.
- Help manage vendor accounts payable.
FTS is a comprehensive lifecycle management tool which defines processes to manage telecommunications/IT assets and financials including service provisioning, asset inventory control and add/changes/deletions. Thus it stores all the necessary real-time data (as well as historical data) to perform vendor bill reconciliation effortlessly.
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