Managed Services 2017-09-13T13:52:32+00:00

MANAGED SERVICES

Expense Assist™ provides Managed Services resources and personnel to free our clients of process and workflow responsibilities which delivers enhanced value from our platform.  The value is boosted further by our dedicated and experienced team of Expense Reduction Professionals.   Talk to your Strategic Success Professional (SSP) today about how Expense Assist™ Managed Services can benefit your organization.

 

Supplier-Dispute

Managing invoice discrepancies to refund can be challenging and time consuming.  Using sticky notes and writing on paper invoices are the typical methods for tracking these issues.  These are ineffective at best and lack accountability.Expense Assist™ team members will manage all discrepancies found in your invoices (inaccurate rates and fees, missed volume discounts, continued charges for cancelled items, etc.) and all disputes with your suppliers thereby improving refunds and increasing accountability.

Late-Payment

Most late fees are 1.5% per month after 30 days.  Most Days Payable Outstanding is 30-40 days. The risk for late payments is high. This can equal thousands to 10’s of thousands of dollars ($) of waste per month.  Reducing or eliminating late payment penalties is the equivalent of hundreds of thousands in new sales ($) for your organization.Expense Assist™ team members will analyze all invoices and report the Late Payment Penalty issue and develop processes to eliminate them once and for all.

Historical-Data

Past spend data needs to be uploaded and catalogued because its lifecycle importance is not over yet.  This data is valuable to determine waste, mistakes, spend, trends and more.  Taking the last 6 months to 2 years of supplier invoices and importing them into the Expense Assist™ platform improves decision making capability and waste discovery.  This is historical data mining.Expense Assist™ team members will digitize, extract and upload (chosen timeframe) historical spend data to provide you a deeper database by revealing intelligence, trends and waste that will enhance overall decision making capability.

Contract-Management

Many organizations have to rely on their suppliers to help manage their contracts for them.  There are intrinsic problems with that.  Managing 100’s to 1000’s of contracts can be burdensome to achieve optimal cost reduction.  Continuing to purchase on expired contracts can cost an organization a 15-35% premium on pricing of those products/services.   Contracts are often under negotiated and softly managed.Expense Assist™ will proactively review and manage contract expiration dates ensuring no contract slips into expired or auto-renewal status.  We will assist your organization in devising a plan to get more spend under management.  Our team can negotiate new contract pricing and terms to help you achieve optimal pricing potential.

Custom-Feature-Upgrades

Take Expense Assist™ to the next level by customizing it exactly as you need.  Whether it is new functionality, reporting or features you require, we will work with you to develop the proper scope and deliverables.Expense Assist™ team members will take your required scope and convert manual or labor intensive processes and reporting into more efficient automated processes that are integrated into the software platform.

Expense-Category-Audits

There are opportunities to discover and recover cash-flow from your supplier base.  Where to find them, how much can be recovered, how long will it take, where to begin, and what to change are questions requiring answers.  This is a non-intrusive and painless process, unlike a tax audit and can generate immediate and extended returns.Expense Assist™ team members will analyze your chosen expense category invoices to determine the specific areas of waste and overpayment.  We will work with your current supplier(s) and other potential supplier(s) to deliver a comprehensive cost reduction strategy that will positively impact those chosen expense categories.

ImagesSpend-Monitoring

Your spend has a tendency to become bloated and filled with daily opportunities for reduction.  Often organizations can’t be proactive because they are busy with their extensive day to day activities.   As a result they forfeit the prospect of savings substantial dollars ($) that are present over the course of months or even years.  Having a separate set of professional eyes on your category spend whose sole focus is on Spend Reduction breeds proactivity and the seizing of available cost savings.Expense Assist™ will monitor your spend category data on the platform down to granular line item levels to identify cost savings.  Our team of experts is always observing the marketplace and will proactively present savings recommendations based on your spend and the market’s best pricing.   

Early-Pay-Dscount

Typical A/P processes lead to lengthy invoice payment cycles and an inability to negotiate payment discounts with suppliers.  Shortening invoice payment cycles to under 10 days dramatically improves discount opportunity capture.  This is found profit. Rapid payment cycles promote a stronger client-supplier relationship and suppliers appreciate the rapid cash-flow.The Expense Assist™ team will work with you to reorder your invoices for processing and your suppliers to negotiate discounts and monitor their continuing capture.   This is a 2-year effort to bring your invoice & supplier base into early pay discount alignment. 

Supplier-Dispute

Anecdotal evidence on Supplier performance is not as effective or real as scientific evidence.  A tool that can regularly catalog empirical data from your organizational employees who are interacting daily with your supplier base enhances your ability to improve Supplier performance and negotiations.  There is nothing more frustrating than arriving at the negotiating table with limited influence.  This tool gives you the needed leverage at the bargaining table.  Getting your employees to regularly complete these scorecards to provide you this intelligence requires policy changes, an administrator and follow-up.The Expense Assist™ team will become the Supplier Scorecard Administrator, working with your employees to ensure regular participation delivering the necessary data to you.   We will work with you to set policy and consistently communicate with your employees on the completion of these scorecards.