Invoice reconciliation is crucial for purchased services cost management.
When clients come to us to have their contracts reviewed and analyzed, I ask them for 12 months invoice.
They are often surprised by this demand.
But I tell them that to do this right; we need to carry out a historical review of your 12 months’ utilization.
All the line-item details of your utilization are on the invoice.
But you can't run that report in your ERP system to get the details.
If you are working with us, we can automate the process and get the details within minutes.
Or you can have some manual process internally to analyze your purchase services.
Whatever strategy you deploy, the need to see what's going on is key to make sure:
- You're getting the right price.
- There isn’t a growing utilization that you need to address.
Thoughts?
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