Welcome to our Why We Did it series that gives you an inside look on why we added reporting or capabilities to ExpenseLogic, RadiusPoint’s proprietary software. Adding these various capabilities allows our clients to have a full, well-rounded approach to managing their invoices and expenses. In this video we explored the addition of adding our Weather Normalization reporting to our utility usage reporting.
Utility Expense Management (UEM) is the process of augmenting every aspect of enterprises energy consumption to include Electric, Gas, Water/Sewer and Waste invoices.
Our streamlined services built into our cloud-based SaaS, ExpenseLogic TM include invoice processing, rate/tariff auditing, energy consumption, and reporting Bid Data analytics with benchmarking and optimization in the deregulated states. ExpenseLogic TM tracks and stores all utility data to ensure on-time payments while comparing against activity for vacant cost recovery.
Here at RadiusPoint, we streamline processes to benefit our clients. These processes range from inventory audit to paying vendors. Through ExpenseLogic ™, our proprietary software, your telecom invoices are line-item audited against contract rates, company usage policies and much more.
Responsibility & Productivity Work Together with RadiusPoint
RadiusPoint was created to innovate the industry as an Expense Management company specializing in Telecom, Wireless, and Utility invoices. Our technology-based software and process-driven solution accelerated the transformation for corporations whether big or small. It is our comprehensive approach to Enterprise Expense Management that consistently reduces costs, increases productivity and delivers predictable, reliable results.
Managing the day to day tasks of getting the invoices processed and paid will allow the Client’s staff to focus on their core services and ensure the services will not be disrupted.
As the telecom and utility vendors provide invoices, errors are inevitable and will occur.
RadiusPoint’s intelligent cloud-based SaaS, ExpenseLogic, performs a line item audit for telecom services by wireline and wireless numbers, data circuits as well as utility services by meter number, electricity, gas, and trash, keeping vendors in check with how they are billing the services.
RadiusPoint’s priority is to not only identify those errors on a monthly basis but also reconcile with the vendor to return the overcharges and verify savings with the vendors. A quarterly report is prepared for each client using Key Performance Indicators (KPI’s) to track spending levels and ROI to ensure that their partnership with RadiusPoint is beneficial to their organization.
When errors are identified and reconciled with the vendor, a credit or refund situation is created, avoiding future costs for those same charges. These charges are detailed and reported to the client when the credit on the invoices appears, or when the refund check is received. Thus, the clients’ bottom line is impacted with a positive ROI.
RadiusPoint is a recognized leader in the global Utility and Energy Management(UEM) services, providing a technology-based software and process-driven solution for augmenting costs and managing efficiencies. Our goal is to automate processes so managers not only have access to real-time visibility and operational intelligence but save money through energy optimization.