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In life, there are three things you can count on: death, taxes and billing errors; none of which are ever in your favor. Considering that vendor-billing errors make up an average of 2-4% of your costs, finding them is important and difficult. Optelcon can help. Most large organization receives thousands of invoices, have multiple vendors, contracts and departments managing different aspects of each service. In order to maximize your billing accuracy, you first need an inventory and complete picture of quantities, current costs, locations, vendors, and other key information. Inventory creation can take months through traditional methods and hundreds or thousands of man-hours to accomplish.
Optelcon has developed a proprietary inventory and cost management system I.T.E.M.S.tm (Intelligent Total Expense Management System) that makes this process quicker and more cost effective. Optelcon's systems are designed for taking invoice information from virtually any supplier and turn it into a current and working inventory. Optelcon's analysts work directly with your vendors to collect this information, reducing your internal workloads and accelerating the process by as much as 3-5 months. Optelcon's expert team and systems, will take your vendor's data and merge it with any of your own company's data.. Optelcon will used this information to create a very detailed inventory broken out by vendor, product / service type, costs, contract terms and other key information.
Using this information, our analysts will perform a systematic and multi-phase audit that will find savings. Optelcon will also document the errors and work directly with your vendor to dispute, recover and fix going forward. Optelcon's I.T.E.M.S.tm platform can be used as an ongoing cost and inventory management system. I.T.E.M.S.tm is a SAAS, web based system, which means there are no large software / hardware licenses to purchase or maintain. I.T.E.M.S.tm can scale to virtually any size and is used by fortune 5000 companies as well as Fortune 100 organizations with over 50,000 employees. Contact Optelcon today and start improving your bottom line tomorrow. |
