Budget Management

This module provides you with the ability to monitor and maintain budget allocation against cost centres, operating company, countries and regions for specific projects or overall areas of spend.

The use of this module will ensure effective management of exceptions across the budget period and provide early indication of potential over-expenditure against specific budget areas.

Future budget modelling can also be conducted through the use of this module - this will be fully supported by the Data Analyst and Consultant providing advice and guidance to your budget stakeholders.

Budget Management enables you to:

Effectively deliver financial data about your telecoms throughout the organisation
Manage, forecast and control all aspects of your telecoms expenses
Analyse the potential benefits of new tariff recommendations by running ‘what if’ scenarios
Reduce invoice processing timescales and allocate costs by location or cost centre
Create and track issues in future software releases with the network providers
Split allocations for backbone or circuit charges
Compare allocated budget against fixed costs
Gain access to detailed trending and variance information
Analyse multiple network providers simultaneously

The Veropath platform’s Budget Management ability allows you to control areas such as approval rights, user access and invoice review – as well as preventing human error, thanks to total data integrity. You now have reliable and accurate data which you can touch, feel and understand, rather than just seeing a final figure on an invoice!

Benefits

Ensures bills are accurate prior to payment, removing the need to claw back overpayments
Improves governance through transparency whilst also making budget holders accountable
Focuses cost reduction effort on high value areas and improves budget management
Demonstrates the success of cost reduction activities
Removes the need for manual analysis, reducing manpower costs and improving accuracy