DigitalMedia, a Montreal-based company, provides a wide range of digital marketing services, including social media marketing, content marketing, email marketing, search engine optimization, and online advertising. Their team of experts is committed to helping businesses achieve their marketing goals through innovative and effective strategies that drive engagement, traffic, and conversions. With a focus on delivering measurable results and a deep understanding of the latest trends and best practices in digital marketing, DigitalMedia is a trusted partner for businesses looking to grow and thrive in the digital space.

Main Dashboard

This data was collected and visualized using the Finvoice analysis system, which helped DigitalMedia, a retailer, identify cost-saving opportunities and optimize their spending

  • Client stats: This section provides an overview of DigitalMedia retailer's telecom expenses and usage patterns. We can see that the company had a total of 1,500 phone lines, and incurred expenses related to data usage, roaming, and long distance charges.
  • Total monthly expenses: This time series chart shows the total monthly expenses for DigitalMedia retailer over a period of 7 months, from August 2022 to March 2023. We can see that expenses went down significantly from $35K in August to $12K in March, and that over $20K was saved.
  • Expenses by categories: This time series chart shows the breakdown of DigitalMedia retailer's expenses by categories, including device cost, monthly charges, roaming charges, data usage, and other expenses. We can see that all expenses went down more than twice starting from December 2022.

Usage Optimization Dashboard

This dashboard highlights the substantial improvements achieved in the telecom usage of DigitalMedia retailer following the implementation of the Finvoice analysis system. The three panels represent data usage, voice usage, and texting, all exhibiting significant reductions. Data usage decreased from an average of 3GB to 1.5GB per month per line, voice usage reduced from nearly 900 minutes to 320 minutes per line, and texting dropped from 10,000 to 6,000 messages per month. These enhancements resulted from activity reviews, identifying ghost lines, and eliminating unused services.

The time series chart depicts the number of phone lines (accounts) that exceeded acceptable usage defined by company policies. The chart illustrates a decrease in these accounts from 92 in August 2022 to 47 in December 2023 and 32 in March 2023. This showcases the effectiveness of the Finvoice system in identifying and rectifying excessive telecom usage, leading to substantial cost savings for the company.

Usage and Expense Ranking

This dashboard provides insights into the company's top spenders over the course of several months.

The top 3 phone lines with the highest expenses are highlighted each month, giving managers an opportunity to investigate potential overcharges or unusual usage patterns. The dashboard also includes 3 tables which allow managers to easily identify the lines with the highest data usage, voice usage, and roaming charges for any given month. These tables are sortable, so managers can quickly identify any lines that are using an excessive amount of resources. Overall, this dashboard is a valuable tool for managing expenses and ensuring that the company is not overspending on telecom services.

Impact

The Finvoice AI solution facilitated MultiMedia in reducing their telecom expenses by 34% pinpointing overcharges, ghost lines, and other unnecessary charges within their invoices.

With over 1,400 phone lines, MultiMedia struggled to monitor their telecom expenses, lacking visibility into their usage patterns. Frequently encountering unnoticed overcharges and ghost lines, their telecom costs were escalating, impacting their bottom line

Results

Thanks to our solution, within three months, DigitalMedia retailer identified approximately $11,850 in unnecessary telecom expenses, resulting in a 34% reduction in costs. Detecting ghost lines and other fraudulent activities also bolstered their overall security. Subsequently, they reinvested these savings into their business, fueling growth and enhancing their bottom line.

Expense name Percent Saved per month (CAD)
Overcharges 7% $2,600
Ghost Lines 3% $900
Roaming Charges 10% $3,400
Data usage 8% $2,700
Voice usage 3% $1,400
Unused Services 2% $850
Average monthly invoice 100% $34,850
Savings 34% $11,850

Solution Design

Finvoice designed a comprehensive custom solution involving the analysis of the client's invoices using advanced AI and machine learning algorithms. Custom mutators were employed to handle multi-table invoices, while data validation and normalization were conducted. Adaptive extraction algorithms were developed specifically for custom invoice formats. Customized dashboards provided the client with complete visibility into their telecom expenses, aiding in tracking usage patterns and identifying overcharges.

Implementation

The implementation began with onboarding the client's invoices into our system, entailing the training of our AI model to recognize new invoice types. Subsequently, the invoices were processed using advanced algorithms and validated through manual checks. Challenges were encountered during the onboarding stage, especially with new invoice types; however, meticulous testing and optimization allowed us to overcome these hurdles.

Savings radar. CAD/month

Showing the savings performance for different categories of charges

Montly savings distribution

Savings distribution in percentage compare to total amount

Conclusion

By implementing our telecom invoice analysis solution, DigitalMedia retailer was able to achieve significant cost savings and improve their overall telecom management process. Finvoice is designed to be scalable and customizable, and can help businesses of all sizes reduce unnecessary telecom expenses. Contact us today to learn how we can help your business achieve similar results