Even in today's automated environment, many communications and entertainment companies still send a large amount of paper invoices or electronic invoices in non-standard formats. These invoices are costly to process and inefficient to audit. The danger of error inherent in data entry and scanning can compromise Sarbanes-Oxley (SOX) compliance and raise questions about the validity of internal processes.

Reducing Processing Costs and Errors

TEOCO's XTrak service eliminates the tedious, costly and error-prone task of manual invoice data entry. The XTrak technology mines the original electronic formats which produced the paper to create files for loading into cost management solutions. XTrak's data mining technology is far superior to scanning-based solutions, which are hindered by the inherent limitations of optical character recognition (OCR) technologies. As a result, XTrak is the only solution guaranteed to provide a 100% accurate representation of what is contained on paper bills.

Today, TEOCO's XTrak service provides complete, accurate electronic invoice data load in two formats: our patent-pending XTrak Information Format (XIF) and the industry-standard Carrier Access Billing format (CABS). Only XIF and CABS ensure that you have all of the data from your vendor invoices available at a detail level to maximize audit and cost-saving opportunities.

To manage the process of converting your paper invoices into audit-ready electronic information, TEOCO will:

• Contact vendors to convert to electronic media and coordinate routing applicable bill media to our facilities
• Perform media processing and regeneration to assure files are readable and the BAN's are correct
• Provide invoice processing service levels
• Provision for long-term storage and retrieval of original media for SOX compliance
• Create a client vendor directory containing up-to-date contact information
• As an optional service, TEOCO can provide a web-based invoice portal to allow visibility to the invoice image

In addition to providing media conversion and coordination services, TEOCO will receive billing media on your behalf, thereby reducing your mailroom and IT costs. With this service, TEOCO will receive the billing information from your vendors and, within five business days of receipt, deliver electronic files for input into your cost management system with guaranteed accuracy.