Accounts Payable's with TEM

The Accounts Payable (AP) department is usually the last or the first department in the chain of invoice managing. Without a real-time telecom expense management software it is a challenge trying to validate, optimize cost, and track discrepancies/credits without having to manually scrub information.

If the AP department is the last to receive the invoice for payment, then it is clear that these companies would spend valuable time passing the invoice thru various internal channels for validation before it can actually be processed for payment. This normally leads to late fees and/or un-wanted interruption in service. 

If the AP department receives the invoice first and uses the "pay-first-audit-later" method,then they may process payment first and then audit the invoices at a later date. The process can be quite difficult knowing that each invoice must be manually scrubbed of all information,allocate costs by departments, and then hope that no discrepancies arise. The manageability turns into a nightware since auditing invoices involves checking for correct contractual rates,new installs, new wireless activations or upgrades and owed credits.

By having the AP department access the invoice thru the web-based telecom and wireless management expense software, it provides real-time invoice managing to avoid any costly late payments. Each invoice is automatically imported into the TEM and all information can be manipulated to create all kinds of managing methods. The way that AP would utilize the TEM tool is that once an invoice is validated, an Email Alert would be sent to the AP department specifying that an invoice is validated and ready for payment. If there are any discrepancies,then it would be tracked until the credits are actually paid. The work-flow manageability, provided by the TEM, ensures that the necessary steps are efficiently carried across the company from when the invoice is first loaded. 

When an invoice is finally validated and approved, the AP department would normally send payment out either electronically, over the phone or by mail and finally records payments using the Payment Recorder that is built into the TEM. The AP department can also use the  Billing Discrepancy Tracker to make sure that discrepancies are paid and closed out.