Vocio's Telecom Expense Management solution is designed to help organizations efficiently manage and optimize their telecommunications expenses. By automating the processing of invoices from various carriers, the software examines all invoices, compares them against existing contracts and tariffs, and systematically identifies errors. It also inventories all of an enterprise's telecom assets—lines, circuits, and wireless devices—and ties them to site locations or employees, identifying usage patterns for internal cost allocation. Key Features and Functionality: - Invoice Processing Automation: Automates the loading and mapping of all paper, web, CD-ROM, and EDI invoices into the system, streamlining the processing of invoices. - Contract Compliance Verification: Examines all invoices, compares them against existing contracts and tariffs, and systematically identifies errors to ensure contract compliance. - Telecom Asset Inventory Management: Inventories all telecom assets—lines, circuits, and wireless devices—and ties them to site locations or employees, identifying usage patterns for internal cost allocation. - Cost Allocation and Reporting: Provides tools for internal cost allocation and reporting, enabling better visibility into total employee expenses or expenses for locations based upon all carriers and services. Primary Value and Problem Solved: Vocio's TEM solution addresses the challenges organizations face in managing telecom expenses, such as inefficient processes, late payment penalties, carrier billing errors, and inadequate visibility into spend. By automating invoice processing, verifying contract compliance, and providing comprehensive asset inventory management, Vocio helps organizations reduce telecom expenses by an average of 3% to 10% of their spend.