Avotus addresses unique mobile and wireless communications needs of financial industry

Provides the tools for financial companies to track, manage and control mobile workforce wireless assets, usage and expenses...

TORONTO and BOSTON – April 18, 2006 – Avotus Corporation, the leading provider of communications expense management (TEM) and e-Procurement solutions, has introduced enhanced mobile and wireless management (MWM) capabilities specifically designed to help financial services companies manage wireless communications.

Part of the Avotus Intelligent Communications Management™ (ICM) solution, it starts with an innovative e-Procurement process and extends through call center support, identification of wireless usage, and allocation and tracking of wireless expenses. Organizations can select any or all of Avotus’ services, delivered as in-house software solutions, hosted or managed services.

Financial industry mobile device management processes and procurement are typically highly decentralized with individual employees often contracting and expensing their own services. There often is no clear corporate “owner” of the spend category, and policies, if they are defined, are both difficult and unpopular to enforce. This is complicated by frequent device turnover and fragmented carrier coverage which further contribute to uncontrolled, undetected spending and misuse.

“Our research finds that financial services is among the heaviest users of wireless communications – from Blackberry devices to wireless phones and PDAs,” commented Alan Gold, Avotus chief marketing officer. “Sales personnel, traders and client services people are widely dispersed, mobile and active, and the need for information transcends all else. Yet, this growing expense line must be controlled.

”Avotus takes a holistic approach that integrates wireless and mobile management into the overall communications spend management environment. We start with Avotus e-Procurement, which is the only online RFP and reverse auction solution that is optimized for communications procurement. We add our expanded set of MWM capabilities to deliver unmatched savings and process controls for wireless communications,” continued Gold.

Avotus mobile and wireless management allows financial services companies to select a range of services to address sourcing and procurement, inventory, cost and usage:

Inventory control – Avotus has a methodology and the managed services to quickly register all mobile users and devices, capture existing carrier and plan information, determine reimbursement and/or use policies.

Optimized sourcing and procurement – Through a unique automated process, Avotus enables a company to quickly develop a full RFP for the required services and products, obtain the best possible rates through a specialized online Web auction, and generate a contract ready for review—in a fraction of the time it would take through any other method. In addition, individual rate plans can be automatically reviewed, analyzed, and adjusted to fully optimize the company’s mobile and wireless spend, creating a new standard for best practices communications procurement.

Contract implementation, verification and policy adherence – Avotus ensures that negotiated savings are actually implemented and realized over the life of the contract. Automated invoice validation analyzes each bill to ensure contract compliance. Asset-level purchasing is similarly automated, as is the enforcement of corporate policies.

Integrates with enterprise accounting systems – Avotus is the only company to provide fully integrated MWM that captures, records and integrates wireless communications costs with other corporate communications expense lines. Avotus feeds data to corporate enterprise resource management systems so wireless costs are allocated in precisely the same way as all other corporate expenses. This eliminates errors, strengthens audit trails and simplifies budget reconciliation.

Regulatory compliance – Avotus wireless management helps financial companies comply with regulations and audit rules. By raising traditional call accounting functions to the level of Usage Management, Avotus MWM consolidates, tracks and reports call histories. It enables auditors to quickly analyze call records and prepare necessary documentation.

Full lifecycle control through call centers/contract fulfillment – Avotus also provides Web-based and call center support for all user services and technical needs, including ordering accessories and new and replacement equipment, as well as for changing and decommissioning services. Avotus offers an intelligent, online, rules-based portal that accommodates individual procurement requirements (equipment, carriers, plan, etc.) within the context of corporate policy.

“Managing mobile and wireless spend is a huge challenge for any growing enterprise,” stated Eric Goodness, research vice president for Gartner. “Our research shows that the costs and complexity of a mobile workforce are often masked through inadequate policies, decentralized processes, and a lack of visibility into the spend. Companies that recognize and take steps to manage their mobile spend can yield strong results, and firms that incorporate mobile and wireless expenses into an overall spend management model will be well ahead of the game.”

Concluded Gold, “Before organizations can control their mobile and wireless spend, someone within the organization must ‘own’ the problem. Recognizing that taking control of the problem is one of the biggest challenges organizations face, Avotus provides the answer with our Mobile and Wireless Management solution. Organizations can eliminate this headache and outsource the entire management of mobile and wireless to Avotus.”

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