Problem:

One of our clients, a well-established bank with over $11 billion net income, had made several changes to their telecom services, switching vendors and updating their technology in the process. An accurate inventory of the exact services they were getting and at what cost became almost impossible to understand. To make matters worse, they were receiving over 1,600 paper invoices a month. The client reached out to UTR for help.

Solution:

Through our Telecom Expense Management service, we audited all wireless, voice and data charges to make sure the client was billed the right amounts for the right services–even identified duplicate and outdated services. We then set up automatic invoice validation and processing from receipt up to payment to catch future errors and eliminate late fees. Our process broke down expenses by department and organized all data into robust monthly reports—no paper required.

Result:

After carefully reconciling all telecom expenses, UTR initially secured $4.2 million in refunds and $390,000 in ongoing monthly savings for the bank. Now in our 15th year, savings in errors immediately spotted and handled are immeasurable. The reduction in paper waste aligned perfectly with their green initiatives, and late fees and AP department overtime are non-existent. The client now enjoys the simplicity, visibility and accuracy of UTR managing their telecom billing.