Tepa Presentation Supplier Payment Headaches
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Remittance Data Standardization
An answer to supplier payment headaches
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Agenda
Entrance Software: Who are we?
Supplier Payments: Goals & Challenges
CORE: Current Approach
What We (TEPA) Can Do About It
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Who are we?
Houston-based Software Consulting Company
Microsoft Gold Certified Partner
HBJ’s Fastest Growing tech companies:
2006: 16th place
2007: 15th place
2009 Inc. Magazine “Inc. 5000” list
Associate Member of TEPA
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Goals and Challenges
Challenges
Goals
Goals• Timely• Accurate• Complete
Challenges• Data format:
• Varies by REP• Varies month to month• Not consistent
• Inaccurate• Incomplete
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Data: General Challenges
Format
• No Two suppliers are alike… or even SIMILAR!
• Some formats literally change monthly from the same supplier
Detail
• SOME suppliers do not offer meter-level detail
• MOST do not offer Contract details
• MOST suppliers do not offer discounting detail
• MANY suppliers do not offer true-up/claw-back detail
• MANY suppliers do not offer credit detail
Consistency
• One file vs. Multiple files
• Bill Month vs. Meter Month
• Fee earned vs. Fee collected
• Discount Application
• True-up explanation
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Specific ChallengesWhat are we seeing today that makes us mad?
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Formats Different Every MonthHow can we keep up?
Jan
Feb
Mar
Apr
May
Jun Jul
Aug
Sep
OctNovDec
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Payment Amount != Usage * Fee?
$2 + $2 = $3?
Many suppliers do not offer enough quantitative data to explain why usage * fee != payment…. Discounts, adjustments, true-ups, etc.
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CORE: Efficient Energy
100% Secure & Web-based
CRM & Sales automation
Online LOAs + Fax/barcode
Automated usage analysis
Automated tariff forecasting
Branded sales reports
Simplified commissions
REP Payment reconciliation
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Reconciliation in COREStop the insanity!
$ Import Data
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1) Create a PaymentAccounting User Logs In
Creates a Payment
Enters Payment Line-Items
Saves Payment
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2) Upload a RemittanceCreate “import” page in original
file
Upload to CORE
Matching items are matched
New meters can be matched by
user
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3) Reconcile ReceiptsReconcile on
Summary
Reconcile on Timeline
Look for Late or Missing Payments
Save as PDF or Excel
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4) Pay CommissionsSelect Date
Range
Select Individual or Team
Run Report
Save As PDF or Excel
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What Can We Do About It?
Data standards are common in other verticals (healthcare, energy)
We have the beginnings of aproposed standard format
We would like to form a working group to develop this further and submit a standard to be adopted by TEPA
The benefit would be complete, compliant, cogent data for all!
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Entrance Software
Contact Info:
CORE Website: http://core.entrancesoftware.com
Entrance Website: http://www.entrancesoftware.com
Email: [email protected]
Phone: 713-357-4930
Snail Mail: 1001 McKinney St. Suite 750Houston, TX 77002