Technology Expense Management

As you implement more technology across your organization, the potential for costly mistakes (such as misallocated GL codes) or paying for duplicate services rises exponentially.

Typically, IT and accounting teams are overloaded or don’t know what to look for, so these small inefficiencies and errors hidden inside complex invoices end up costing your company thousands of dollars per year.

Expense Management services track expenses more efficiently, increase team productivity, and eliminate inefficient processes.

In the short term: You’ll free up valuable time for your company’s most valuable resource, your employees.

In the long term: You’ll optimize your spending as we eliminate unnecessary services, consolidate vendors and technologies, and give you what you need to make proactive and strategic technology decisions.

Here’s how we do it.

Step One: DiscoveryWorking with Modern Solutionz engineers, we start by getting to know your business, including your current challenges. From there, we take a deep dive into existing services, by requesting access to accounts and invoices, and we ensure everything is properly allocated and billing correctly.

Step Two: GovernanceNext, we reconcile assets with invoices by working closely with your accounting team to understand how assets are coded and processed within your organization. Based on this we’ll make strategic recommendations for the types of reporting you need and how often we’ll meet to review

Step Three: Ongoing TEM
Now, proactive management begins. From inventory changes and variance tracking to missing invoice reports and excessive rate flagging, our team focuses on the details that matter. Your TEM team proactively completes extensive ongoing audits ensuring nothing is missed.

  • Identify Providers and Collect Invoices
  • Redirect Invoices and Gain Account Access
  • Determine AP Coding and Allocation
  • Add Inventory into Portal
  • Develop Custom Pay File or Bill Payment
  • Create Custom Reporting
  • Actionable cost-reducing recommendations