Has this ever happened to you?
Shannon in Accounting receives a hard copy invoice in the mail. She logs it and routes the invoice for manual processing. Unbeknown to Shannon, Ryan receives the same invoice electronically. He logs the invoice in his system and pays it promptly. The hard copy eventually gets to accounts payable where it, too, is paid.
Double payments are not uncommon!
Double payments occur much more frequently than you might realize since some vendors routinely submit invoices both electronically AND by mail and/or to multiple recipients. That can equate to a lot of separate eyes and hands on a bill, which can easily lead to duplicate payments of a single invoice. Hopefully, when that happens it will be caught by either your company or your vendor. Even if it is, it can just compound the confusion. Do you get a refund? Do they apply it to the next billing cycle? Either way, time and energy have been expended and cash flow impacted.
How can TEM help you eliminate duplicate invoices?
How does your reporting system help you eliminate invoice confusion? You need to make sure your TEM system is able to recognize duplicate invoices as they come in and flag your administrators when payments have been made. How flexible is the system? Does it allow for a variety of different formats to reflect your standards and conventions?
Your TEM system should be working in the background so that you can concentrate on managing your department effectively with peace of mind that the operational aspects are in order. Do you have that confidence?
Your TEM system should be working in the background so that you can concentrate on managing your department effectively with peace of mind that the operational aspects are in order. Do you have that confidence?
About TeleManagement Technologies, Inc.
TeleManagement Technologies, Incorporated (TTI) provides Telecom Expense Management and Call Accounting solutions designed to effectively track, integrate, manage and protect an organization's information technology resources. TTI's TEM solution, WinBill®, has developed a reputation for an impressive ROI, with clients reporting savings of 300% or more! WinCall® Call Accounting tracks all domestic and international locations regardless of PBX type (analog, digital, VoIP) to facilitate internal bill back, identify PBX toll fraud and increase employee productivity. Extensive reporting capabilities are also included for planning purposes. TTI's experienced, responsive support team helps keep CFOs and IT/Telecom departments in total control of their technology expenses.
Since 1987, TTI has been designing software products that provide a better solution to managing corporate technology, inventory, expenses and services. For more information, visit www.telmantec.com.
Since 1987, TTI has been designing software products that provide a better solution to managing corporate technology, inventory, expenses and services. For more information, visit www.telmantec.com.
