Billing Discrepancy Tracker

Accounts Payable (AP) has more than enough job tasks assigned to them that limits them from pro-actively monitoring billing discrepancies. AP would usually trust the carriers when the carrier states that they will see the credit in the next invoice or that the carriers are still investigating a discrepancy. Often times a company would forget to follow up on a discrepancy and the discrepancy credit is never applied. 

It all starts with how the billing discrepancy is found. Does AP process payment for the invoice first, then finds discrepancies? Or does AP find discrepancies first, then processes the payment for the invoice? Either approach usually takes time and proper managing in order to receive the credits due. In more instances, most businesses use the "cost variance" approach to find them. This would take a previous months invoice and match it against the current invoice. If the cost exceeds a certain percent, then it is examined further for discrepancies. This is generally okay for fixed costs, but not for services that contain the following:  long distance, new installs, and wireless phones. Additionally, the amount of time to pull the information from invoices can hinder a high-value position from completing their main job tasks.

With Billing Discrepancy Tracker, built into the ENTERPRISE-View telecom and wireless expense management (TEM) software, it allows companies to monitor and manage all billing discrepancies. Each time a billing discrepancy is logged in, the Billing Discrepancy Tracker provides the user with three status choices:  the carrier is investigating, credit will be applied next invoice, or the credit has been applied. Each selection triggers an Email Alert timer that sends reminders depending on the status. The Billing Discrepancy tracker also places every discrepancy in the AP's dashboard for manageability. This ensures that the discrepancy is completed in a timely manner and all credits expected are collected..

To find out more about the Billing Discrepancy Tracker, please contact WCS!