Financial Cost Control Analysis
One of the world’s leading providers of communications solutions and services operating in 170 countries. Its principal activities include networked IT services, local, national and international telecommunications services, and higher-value broadband and internet products and services.
Project Overview & Objectives
The client asked Synaptitude’s consultants to analyze its financial billing processes and perform a cost control analysis across several of its product service lines.
Our consultants conducted over 20 workshops across the different business units involved in the billing process and were able to quickly identify areas of revenue leakage attributed directly to both business process and system deficiencies. Within a few weeks, we were able to stop the leakage and recover over $20 million is past billings. Additionally, we were able to re-engineer the existing process, implement controls and develop audit procedures to ensure that the issues did not occur again. A long-term implementation plan was also created to automate these new controls. To this day, these controls are responsible for “catching” over $10 million in missed billings each year.
Results and Benefits
Within a few weeks, Synaptitude’s consultants were able to stop the leakage and recover over $20 million is past billings. The new controls are responsible for “catching” over $10 million in ongoing missed billings each year.