PLUSNET FINED £880,000 – highlighting the need for an effective invoice validation tool
PlusNet has been fined £880,00 by Ofcom, the independent regulator and competition authority for UK communications industries. This fine relates to billing of former customers who have cancelled their services but billing continued beyond the cancellation date. It has affected 1,025 customers and resulted in overcharging of more than £500,000.
And they are not the only ones; this is the second largest fine in the first quarter of 2017 – the first relates to EE who were fined £2.7m for overcharging.
Without an application such as Veropath’s Technology Expense Management (TEM) tool, it is impossible for organisations to know if they are being billed correctly. The foundation of a telecom invoice validation starts with an accurate inventory of services and the ability to analyse billing data at a transactional level.
As part of our new release, Veropath 2 has automated invoice validation, meaning that within hours of loading an invoice, the system will have validated each transaction against the contracted tariff, checked for ceased services which are still billing, and also for duplicate charges. This means our customers know before they pay their invoices whether they are right or wrong. Coupled with our sophisticated dispute management function which enables disputed invoices to be sent directly to the network provider, and you have an effective, efficient invoice processing tool.
Contact us at email@example.com to find out more about how our automated invoice validation that could prove vital in ensuring accurate billing for your company.