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Managing Telecom Invoices & Service Contracts in the Enterprise:A Guide to Best Practices

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As the landscape of telecommunications service providers and service offerings evolves, the financial impact of change should be considered. Changes in service provider invoices that reflect administrative and financial impact created by service changes contributes to the overall complexity of financial management. Each time a service provider rolls out a new service offering, repackages existing technology or improves their service in any way, the financial management points to monitor and report upon also change. Service evolution and improvements are rapid in today's environment and these changes can negatively impact the budget unless control is gained over cost and service change | Written and provided by Global Knowledge Expert Reference Series ofWhite Papers Managing Telecom Invoices Service Contracts in the Enterprise A Guide to Best Practices 1-800-COURSES www.globalknowledge.com Managing Telecom Invoices Service Contracts in the Enterprise A Guide to Best Practices Timothy C. Colwell Introduction As the landscape of telecommunications service providers and service offerings evolves the financial impact of change should be considered. Changes in service provider invoices that reflect administrative and financial impact created by service changes contributes to the overall complexity of financial management. Each time a service provider rolls out a new service offering repackages existing technology or improves their service in any way the financial management points to monitor and report upon also change. Service evolution and improvements are rapid in today s environment and these changes can negatively impact the budget unless control is gained over cost and service change. Telecom financial management is the practice of understanding relating and managing the cost of telecommunications services. Financial management is supported by three key best practices disciplines 1. Invoice Service Inventory 2. Contract Inventory 3. Cost Control These best practices support understanding and proactive management of telecom services and cost. Best Practice Invoice Service Inventory Financial management begins with understanding the services present in a telecom environment. Cost for the services is represented on service provider invoices and these can be used to create a baseline for services and associated cost. Creating an inventory of cost as the first step in inventory development rather than creating a physical service inventory presents a clear picture of the total monthly cost of telecom service. Accurate or inaccurate invoices are the vehicles that document charges a service provider assesses for telecom services. Invoiced service cost .