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Rivermine Software

finance_manager_250Rivermine's Complete Telecom Invoice Management Solution

Because it’s grounded in an accurate and timely inventory, Rivermine Finance Manager truly is the smarter way to manage financial activities - telecom invoice processing, bill validation, allocation and auditing - of your telecommunications operation.

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

The application comprises six key components:

Because you are working with an accurate inventory of your actual telecom network, Rivermine Finance Manager helps you better manage your operations and control your costs. By connecting this application with your network management tools, you can analyze performance, design, and costs - all from one integrated perspective - and thereby enhance your network operations and business performance. That’s the unique power of Rivermine Software.

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.

With these capabilities, you can virtually eliminate the need for physical invoices which, in turn, dramatically increases accuracy and reduces bill processing costs.

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

Technology enables TEM

There is no Telecom Expense Management initiative that can do without TEM Technology. Telecom products and services represent a mission-critical support function that will continue to grow more complex in terms of technology, functionality and pricing and require automated management. Telecom Expense Management technology delivers the information you need to manage your telecom spend and avoid unnecessary expenditures with integrated analysis of your inventory, equipment, contracts, vendors and billing. And as TEM has evolved far beyond just checking phone bills, technology becomes ever more important to support people and processes executing TEM business functions. Today, TEM Technology implies an Enterprise Resource Planning (ERP)-type integrated software application that delivers Total Telecom Service Lifecycle Management (TTSLM) for communications resources, a proactive method of managing the internal service delivery and service support processes of your organisation.
That’s why Convergence’s ERP level TEM solution is based on the technology of the world’s most famous provider of TEM technology, Rivermine Software, the result of tens of millions of dollars in development investment. Convergence’s proprietary software enhances and complements Rivermine to address the specific needs of the EMEA market and a geographically dispersed user community. The Convergence TEMPOR and TEMPOR Enterprise portal enable collaboration across geographies, customer teams, telecom suppliers and the Convergence Managed and Professional Services specialists. BillIntelligence normalises, translates and enriches incomplete billing data and TEMExpert Business Intelligence provides dynamic web analytics down to the call detail record level. This technology today brings TEM within reach of any size organization, with any telecom provider, in any language, anywhere.

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