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 Case Study: Major Bank

High Performance Delivered

This organization initially engaged ISG to perform a telecommunications billing verification audit encompassing over 1,500 domestic sites. Our bill audit and analysis efforts resulted in one-time refunds totaling over $3 million, and monthly bill reductions in excess of $800,000. After generating results of this significance, and despite a large internal invoice administration staff, the client understood that it needed to establish controls to ensure that the results of the audit would not erode over time.

While ISG provided an internal database quantifying all current inventory and corrected all billing errors going forward, this was not enough given the client’s dynamic environment. To leverage the results realized from ISG’s audit efforts, the client asked ISG to provide in-house telecommunications billing training for its invoice administration staff. ISG was also engaged to perform a detailed inventory of the entire information technology infrastructure so that the client could establish a more accurate chargeback methodology.

Despite these measures, the client was still managing in excess of 5,000 monthly bills with an administrative staff of twenty-two. Additionally, in a climate of increased deregulation, more and more service offerings from a vast array of service providers were being considered. Not only had billing become more cumbersome to manage, it had become more difficult to evaluate the contracts of current vendors and compare them to offerings from prospective suppliers.

This client engaged ISG to provide the Invoice Processing and Validation (IPV) service oriented solution. They were able to reduce the number of vendor invoices by having ISG create summary billing from each of their suppliers. The client was also able to take advantage of invoice remittance via EDI, saving $900,000 annually. Since ISG was now handling internal allocations, the client was able to refocus many full time clerical positions, resulting in additional savings. And, most importantly, because the client now had an effective management tool, staff was able to effectively renegotiate various vendor contracts for LEC and WAN services, generating further savings.

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