Veramark Technologies, Inc. , a leading provider of Telecom Expense Management (TEM) solutions, has been selected by Panda Restaurant Group to provide TEM services for its national chain of gourmet Chinese restaurants. The range of services to be provided by Veramark includes telecom invoice audit and processing, service ordering and provisioning, account payment, and spend analytics services on a business process outsourcing (BPO) basis.
Panda restaurant group has more than 1300 restaurant locations around the country and it receives nearly 600 telecom invoices from over 40 carriers every month. As the chain is growing by leaps and bounds, it is bound to incur a larger amount on telecom expenses. To cut down the cost, Panda’s IT management team recognized the need to implement a holistic telecom expense management process that would enable them to better manage their growing telecom network.
With features like initial audit as well as ongoing telecom expense management, the Veramark solution was found most feasible. The services will also include an initial audit of inventory of Panda’s telecom contracts, services, and circuits to identify opportunities for invoice consolidation and network optimization. Veramark will then implement ongoing processing of invoices, utilizing their TEM-enabling technology to automate the invoice review, validation, and payment processes.
“VeraSMART gives us the configurability and visibility we were looking for,” said Panda’s Xing Ming, who was instrumental in researching and selecting the Veramark solution. “We especially like the fact that it integrates with our Lawson AP system, completely eliminating the need for manual GL coding of telecom charges,” Ming explained in a statement. “Veramark’s expertise and long term vision make them a good partner for Panda.”
“Panda management took the time to assess how best to manage their telecom environment,” noted Daren Moore, Veramark’s senior vice president of TEM Services, in a statement. “Veramark will provide the people, processes, and technology to efficiently manage their telecom services and process invoices, allowing Panda to focus on delivering excellence to their customers.”
Veramark’s TEM services will be enabled by its Web-based VeraSMART software deployed as a cloud service. The employees of Panda will be able to access the system through VeraSMART’s browser-based interface, and have full visibility into all the usage and expense data captured by the VeraSMART system. Telecom spend reports will be distributed via the Web to key personnel across the Panda enterprise.
Source:http://telecom-expense-management.tmcnet.com/topics/telecom-expense-management/articles/125154-veramark-offer-telecom-expense-management-solutions-panda-restaurant.htm
