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Invoice Management Helps Businesses Take Control of Vendor Invoices

By STEFANIA VISCUSI TMCnet Assistant Editor for Channels

While communications are essential to the successful operation of a business, many companies are finding that their lack of control and management of these expenses and the amount of erroneous charges being made on their telecom invoices, are actually taking a bigger toll than they thought. In fact because of an insufficient process for invoice management, inaccurate vendor invoices have been costing businesses up to 15 percent, yearly, industry research has found.

To improve the invoice management process and simplify the complexity of invoice management, AnchorPoint's Invoice Management solution offers technology that provides a single source for communications bill presentment, analysis, validation and payment. The result: reduced costs, more visibility and better control.

This more streamlined process for invoice management is achieved by offering a paperless, automated system that integrates invoices from different vendors and a variety of sources like paper, CD, EDI into a single place that provides the ability to also make invoice payments.

Along with the ability to better manage and control vendor invoices, Anchorpoint Invoice Management also offers a historical database which means records of all invoices are kept so that businesses can analyze cost trends, vendor charges and more easily allocate charges to the appropriate cost centers. In addition, Invoice Management software facilitates automated capabilities for validation, approval and disputing of invoices along with charge allocation to cost centers.

By closely examining telecom invoices for errors and creating greater visibility into telecom spend, invoice management solutions make it possible to stop drain on capital before it takes an even bigger toll on businesses yearly telecom spend.

Invoice management solutions from AnchorPoint support invoice validation, invoice payment, invoice allocation and telecom bill auditing to eliminate vendor over-billings and lower telecom expenditures.

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Stefania Viscusi is an established writer and avid reader. To see more of her articles, please visit Stefania Viscusi's columnist page.