Rivermine Finance Manager enables complete telecom invoice processing, bill validation, cost allocation, contract management, and auditing. This powerful application fully automates telecom invoice management and chargeback process, seamlessly sharing critical information with your accounting department or third-party invoice processing vendor.
Finance Manager lets you easily validate charges for equipment and services against your actual physical network, contracts, rate tables, last month’s bill, average monthly bill, and more.
By providing a fully automated, electronic approach to managing service provider invoices based on an accurate inventory, Rivermine Finance Manager helps you gain tremendous operating efficiencies, while significantly reducing costs.
With comprehensive information at your fingertips to analyze potential savings and areas of spending, you can:
- Provide a more accurate picture of your telecommunications cost structure for better accounting
- Ensure complete and accurate accounting, cost allocation, and customer billing
- Validate contract compliance and decrease telecom expenses
- Reduce billing errors and processing costs
- Automatically calculate point to point network connectivity with Rivermine's unique TEM Atlas
- Telecom Invoice Processing
- Bill Validation
- Cost Allocation
- Auditing
- Contract Management
- Financial reporting
Invoice Processing
Rivermine Finance Manager allows you to manage telecom invoice processing from receipt of invoices through payment. The application provides automation, workflow, and processing tools to:
- Import bills electronically, including XML, EDI, CD ROM, web download, or manually enter paper invoices as required.
- Reconcile line item charges against inventory, contracts, and audit rules.
- Ensure contract compliance
- Prepare invoices for payment
- Integrate with your accounting systems.
Bill Validation
Each month, someone in your company must validate that all telecom bills reflect the correct amounts and match up against what you currently own and use. Only with an exact inventory do you have complete information to ensure accurate bill validation:
- Validates invoices against contracts, rate tables, tariffs, actual physical network, previous bills, and more
- Enables analysts need to see items on the bill do not match inventory or where the amount billed seems out of line
- Provides billing error information in plain English, so you can more easily communicate with service providers
- Delivers tools to track and manage all billing disputes with your service providers
Cost Allocation
Rivermine Finance Manager provides complete and accurate information for accounting, cost allocation, and customer billing. You can take advantage of capabilities to:
- Capture and view costs for each circuit and piece of equipment at a granular level of detail
- Allocate expenses and invoice internal and external customers
- Assign account allocation to ensure chargebacks and individual circuits are expensed correctly in the accounting system
- Assign circuits and equipment to multiple account codes, as required
- Allocations based on usage or other custom requirements
Auditing
With our inventory-based Finance Manager application, you can easily apply pricing audits and controls to ensure contract compliance. With this auditing functionality, you can:
- Automatically compare quoted prices against actual invoice amounts
- Flag significant variances in invoice amounts to quickly identify errors or fee changes
- Free your financial analysts from monthly invoice audits and focus these resources on issues and analysis instead of clerical invoice chasing
Contract Management
Rivermine provides Contract Management capabilities to keep all aspects of contracts on track and to help better manage service allocation and rates. Rivermine not only captures and stores complete contractual terms and conditions for every vendor and service—including all addendums—it automatically validates compliances and flags critical issues. With this information, you can:
- Minimize manual entries and accelerate deployment with pre-population capabiltiies
- Track all rates plans included in the contract and audit bills for discrepancies
- Track commitment levels (such as MARCs) and forecast expected attainment dates
- Identify contract violations that result in credits and monitor to ensure credits are received
- Ensure orders are generated on contract
- Provide information to better negotiate new contracts
- Collect and store a library of service provider rates including:
- Tariff, USOC and all other billing rates for both wireline and wireless management
- Data from customer contracts, third-party contract databases, invoices, etc.
- Track, optimize and audit on contractual rates and carrier services across providers
Financial Reporting
The Rivermine Finance Manager application provides meaningful reports that enable you to obtain a comprehensive look at your telecom spend. With this information, you can analyze spending trends to determine how much is being spent by any logical grouping, including technology, vendor, region, office, and carrier.
You can also create reports to prepare budgets, enhance contract negotiations with service providers, and reduce local services costs through tariff optimization. Here are just a few of the standard reports available with Finance Manager:
- Total Telecom Expenditures by Cost Center, Location, District, Service Provider, Type, etc.
- Monthly Bill Trends
- Bill Exception Reports
- Tariff Optimization Report
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