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Telecom Business Review | Thursday, November 03, 2022
Automated payment service improves CX by streamlining AP and GL operations and decreasing expenditure management friction, billing mistakes, and resource usage.
Fremont, CA: Automation and mobile payment choices play more essential parts in people's lives. The use of mobile bill pay in the previous 30 days increased from 40percent in 2019 to 45percent in 2020. Except for the baby boomers, digital wallets increased across all generations, and more than a quarter (28 percent) moved at least one bill to be paperless.
"Advantage 's automated bill payment Service closes the loop on invoicing, accounts payable and general ledger processes by executing the payment and capturing and presenting all payment information within Command CenterSM," said Diane Miller, COO of Advantage Communications Group. "Simply put, automated bill payment service removes pain points and friction from the final mile of managing clients' network and telecom expenses."
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Advantage Communications Group reduces the complexity of an ever-changing IT ecosystem. It simplifies improving business networks and telecom infrastructure using hundreds of worldwide service provider agreements, a strong pool of technical practitioners, and ground-breaking tools. It streamlines the sourcing process, executes the chosen solution, lowers company post-deployment expenses, and filters out the noise to transform technical turmoil into data-driven, decision-useful information. As an end-to-end Telecom MSP, they optimize business communications solutions spanning voice, data, cloud, video, and mobility.
"Traditional payment processes result in payments frequently getting misapplied, which can cause a domino effect of unnecessary reconciliations and service disruptions," said Advantage Communications Group Senior Director of Client Experience Andy Alarcon.
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Advantage Communications Group (Advantage) launched automated bill payment services to its managed service portfolio. Client benefits include cost savings via a consolidated, simplified, automated account payable process combined with comprehensive end-to-end expenditure management services and real-time insight into the billing lifecycle via Command CenterSM.
Bill payment services are a logical extension of Advantage's complete lifecycle expenditure management service, which covers invoice, inventory, and contract management. This new product minimizes administrative hassles for clients while lowering late fees, interest charges, and sudden disconnections for nonpayment.
Payable information gets aggregated into files that are transferred to the bill payment engine for disbursement, after which payments get automatically distributed to suppliers based on supplier enrollment choice (e.g., Virtual Credit Card, ACH, Enhanced ACH, Check, etc.). Settlement data is then collected in a compressed file and returned to Advantage's Command CenterSM portal for complete client visibility.
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