INTELLIGENT BILLS ICONS INDUSTRIES-01
November 29, 2019

Financial Institution Case Study

A major financial institution was challenged with cost containment of network expenses due to recent cutbacks in staffing. Confronted with limited resources, an inability to consolidate their Voice & Data Networks under one vendor, they needed a set of solutions that addressed their immediate and ongoing needs.

Challenge

  • Perform an audit of all Telecom Services
  • Inventory all telecommunication services and equipment
  • Development of a systematic and streamline control process
  • Project Management of the Consolidation Effort to be self funded
  • Reduce expenses through the analysis and elimination of spare and unused equipment/services

 

RESULTS

Intelligent Bills found

$ 4.5 M
IN REFUNDS
$ 1.5 M
IN SAVINGS
50 %
REDUCTION IN ADMIN WORKLOAD

But that's not all!

Our professionals performed a thorough analysis of the company’s requirements and aligned specific solutions to meet the objectives. We performed a Compliance Review to validate the integrity and accuracy of their bills thereby cleaning the slate for better ongoing management. Through our Inventory Solutions we developed a billed inventory to use as a baseline for doing the comparison against the physical inspections performed and thereby building a true demand set of services for future contract negotiations. Our Professional Services team conducted a study that evaluated a variety of data points of the validated billing to determine all optimization scenarios that included processes, billing and vendor consolidation.

$ 4.5 M in Refunds/$ 1.5 M in Savings

Reduced Admin workload by 50%

Reduced overall costs, increased accuracy of billing & provided complete visibility into network spend

Converted all paper billing to 100% electronic media

Delivered a complete and accurate inventory of services and equipment

Implemented a new streamlined process for receipt, audit, dispute, allocation and approval of all telecom related billing

Ready To Be Your Company’s Hero?