Verizon’s automated order-processing system will be installed along with Rivermine TEM software at Fifth Third Bank
Rivermine announced it is the first telecom expense management firm to implement its TEM software along with Verizon’s eBonding automated order-processing services at client Fifth Third Bank.
Rivermine this week announced that it had become the first telecom expense management firm to implement its own TEM software in conjunction with Verizon’s eBonding automated order-processing services.
John Shea, chief marketing officer of Rivermine, says that his company reached an agreement with Cincinnati-based Fifth Third Bank to install both its TEM software and Verizon’s eBonding service. According to Shea, Verizon has been trying to get its eBonding service distributed more widely by seeking the aid of TEM firms.
“Verizon kicked off a program nine months ago where they identified a small number of TEM vendors where they’d engage us and pay us to implement this service,” he says. “They were seeing a lot of demand in the marketplace. Their customers want an end-to-end process of automation.”
EBonding is a process that automates online orders and sends transactions directly from one proprietary system to another. Mark Chodoronek, the executive director of customer enablement at Verizon Business, says the automated eBonding system stands in stark contrast to Verizon’s traditional order processing service, which he says is more vulnerable to human error.
Under the current process, customers send orders through an e-mail system, and those orders must be transferred manually into Verizon’s propriety system. This not only increases the chance of error, Shea says, but also creates delays and leaves customers without any way to check on the status of their orders.
“There are a lot of times when you may submit an order and not hear anything about it until it’s installed,” Shea says. “With this product, you can get reports on what orders are in jeopardy of not being fulfilled by a certain date. It’s all about giving you control and visibility over the process.”
Under the new system, customers can receive near-real-time status updates and can check that their orders have been processed accurately. Every time an order reaches a certain “milestone” — such as when it ships out — customers will receive status updates within a three-minute span. Chodoronek says that this kind of service is ideal for customers who order large quantities of products and services from Verizon.
“Our portal is great if you have between one and 50 transactions, but for customers who have hundreds of changes to their services, it can all be done easier electronically through eBonding,” he says.
Don Powell, the vice president of network services and voice delivery at Fifth Third Bank, says the deal with Rivermine to implement Verizon’s eBonding service made sense because the company is in the process of installing a new MPLS network with DSL, much of which runs over Verizon pipes. He says that Fifth Third is now implementing Rivermine’s TEM software, and plans to have Verizon’s eBonding services installed in October. The company’s goal is to have both systems operating together by year-end, he says.
“We hope this will allow us to electronically place orders directly to Verizon,” Powell says. “We will also get status reports that give us more control over the ordering process.”
Verizon debuted its eBonding system last October, more than three years after AT&T unveiled its own eBonding system. In addition to Rivermine, the company has also formed business partnerships with TEM firms such as Cerylion, MBG Expense Management, and PAETEC.
