It’s not just understanding billing, businesses can try to sort out the fees, charges, taxes and discounts (if any) and match with contractual agreements but the true challenge is finding the TIME. Organization(s) are using their valuable resources to sort out billing on a monthly basis. What is that costing? Once discrepancies are found the same resources are removed from other task(s) to HUNT down the appropriate representative to research the error, make adjustments and refund the credits. AND with the absence of alerts for future billing variances and errors the same cycle continues MONTH over MONTH.
Your company starts to grow, and you need more technology to keep up with additional staff, customers and to help improve process. You are aware of the efficiencies and cost savings made possible by new technologies and are upgrading their infrastructures as a result.
But are you aware of How Purchasing more Technology can lead to Cost Creep?
Benchmarking is one of a manager’s best tools for determining whether the company is performing particular functions and activities efficiently, whether its costs are in line with those of competitors, and whether its internal activities and business processes need improvement.