Case Study: Hospitality Conglomerate
Company Profile: A large travel, hotel and restaurant conglomerate with over 420 travel agencies, 570 restaurants, 396 hotels, with close to a $900K monthly spend, was looking for a TEM company who could provide clean billing, correctly identified GL coding, and timely bill processing.
Challenge: Client was frustrated with other TEM provider since there was no procedure in place to make sure all invoices were processed in a timely manner resulting in a large percentage of invoices incurring hundreds of dollars in late fees as well accounts being disconnected for non-payment. In addition, there was no accurate inventory of their services or properly tied accounts to the client’s GL coding.
Services Provided: Monthly TEM, Dispute Management, Account Consolidation, Auditing
- A comprehensive review of all invoices resulted in consolidation of hundreds of accounts.
- Set up an accurate list of active accounts and a missing bills process to make sure bills were paid on time.
- Improved late payments on accounts from 375 accounts that were past due to 0 in 1 year.
- Late fees on accounts reduced from average of $1,440 to $75 first year.
- Recovered more than $186K in one-time credits in first year.
- Consolidated almost 1600 invoices.
- Identified services no longer needed by auditing key Operating Groups.
- Put a procedure in place for processing refund checks
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