The Client

The bank focuses on lending to technology companies, providing multiple services to venture capital, revenue-based financing and private equity firms that invest in technology and biotechnology, and also on private banking services for high-net-worth individuals, In addition to taking deposits and making loans, the bank operates venture capital and private equity divisions that sometimes invest in the firm’s commercial banking clients.

The bank operates from 29 offices in the United States. Bank manages over 51 billion in assets and 4 billion in equity.

The Challenge

Telecommunications services included large data pipes, sonnet rings, MPLS, Voice over IP, etc. Telecom invoices were riddled with errors and no available service inventory. This resulted in duplicate services, overcharges and redundant lines or services billing on telecommunication invoices. The network was intricate and our analysts had to ensure there was no outage due to service changes/cancellations.

The Solution

We analyzed telecommunication billing, created a detailed telecommunication inventory. Verified every site, usage and understood the functionality of each service. Ensuring only redundant and services were identified for cancellation. Our analysis also identified

  1. Contract Non-Compliance
  2. Regulatory and taxes billing was corrected
  3. Pricing Errors, Discount Errors, Tariff Violations, Obsolete, Services identification, Historical Incorrect Orders
  4. Long Distance Errors: Stuck Calls, TFN Calls, Blocked calls corrected
  5. Closed locations and other unclaimed refunds disputed
  6. Line by line site Evaluation
  7. Unused Service analysis
  8. Third-Party Charge Evaluation

The Results

  • Completed Forward Savings are approx. $319,867
  • Completed Refunds is $126,957 across all services
  • Combined annual savings $446,825