National Financial Institution
“TELAdjust has been an important supplement to our staff, at no additional manpower cost. Its depth of knowledge and experience is impressive, and its persistence in sometimes difficult negotiations with network suppliers is as professional as it is productive.”
- National Bank
Client Profile | What We Did
This bank is one of the largest financial institutions in the Midwest. As is typical in the banking industry, this client has participated in mergers and acquisitions to substantially expand its business throughout the United States. These expansion activities drive constant changes to its telecom network. Due to this dynamic environment, this client has found it beneficial to audit its accounts on a regular basis.
Initially, this company was skeptical that a TELAdjust audit would result in anything, as they utilize a sophisticated software program for bill payment, departmental bill back and auditing purposes, which was designed to detect billing errors. TELAdjust convinced them to give it a try, as if there were no results, the bank would pay TELAdjust nothing.
That was over ten years ago. To date, TELAdjust has performed several audits for this client, involving multiple vendors including AT&T (SBC), Qwest, Verizon Business, AT&T, and others. Financial institutions have extensive data networks serving multiple applications, such as corporate voice and data, ATM, teller, and security networks. It is impossible for auditing software to detect all billing errors because of the complexity and dynamics of the network configuration. In these situations, TELAdjust creates schematics from the billing information to determine if the network is being billed properly. TELAdjust discovered numerous billing problems related to configuration errors. Both contractual and tariff errors have been discovered and corrected, as well as errors related to taxes and surcharges. Refunds recovered are in the seven figures, resulting in monthly savings of over $30,000 on an ongoing basis.
