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April 10, 2009
Performance Management
The effective management of invoice receipt, audit and payment is aided by having trending and control reports in place. These reports allow management and analysts to track invoices from receipt to payment while checking on certain BAN and invoice details.
The key reports that track invoices are the Missing Accounts report which helps ensure that all invoices are received and loaded into BillTrak Pro (TEOCO’s bill receipt and payment system) and the Invoice and Transaction Workflow Aging reports that give a snapshot of all invoices in workflow and the length of time in a particular workflow state such as review, account coding or accounts payable allowing for a systematic and accountable processing of invoices to payment.
Other key reports that track invoice details and trend account details are Usage, MRC or OCC Trend reports for a period of 3 months or more help catch variances in charges. These reports allow analysts and auditors to hone in to potentially inaccurate billings, research and audit the charges and dispute if necessary.
Additionally, the Dispute Aging report gives a snapshot of existing disputes over periods of time allowing for the timely management and closure of disputes and the Credit Balances report gives a snapshot of credits on BANs allowing for the management of outstanding credit.
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