New York, January 2, 2003
– Arbinet-thexchange, the full-service trading solution for buyers and sellers of voice minutes, announced today it has introduced new online invoicing features to improve the Company’s outsourced settlement service.
Members now use thexchange’s website to view and download invoices the day they are created. The platform also provides downloadable comma delimited call detail summaries that can be easily imported into most spreadsheets, databases, or financial software, simplifying data reconciliation. As an added feature, invoices will be archived online and remain available for a full year after they are issued. Thexchange also automatically notifies Members by email when new invoices are posted. These features are currently available to U.S. Members. The new service will be available to U.K. Members in the first quarter 2003.
“This is the next step in a program of invoicing platform enhancements to further simplify settlement for our Members,” says David Sumka, Vice President of Business Systems for Arbinet-thexchange. “One of the greatest benefits of thexchange is the ability for a Member to buy and sell millions of minutes with more than 225 Members and settle the net balance in one place every 15 days.”
Billing enhancements complete thexchange’s full service solution, which also features CreditWatchsm monitoring system, a credit risk and billing solution that limits Members’ bad debt exposure.
Two processes central to all telecom companies are selling access to their networks and routing calls off their networks to destinations worldwide. Arbinet-thexchange has created the spot market and designed and built the world’s most advanced system to automate anonymous minutes trading between telecom companies. More than 225 Members, including eight of the ten largest international telecom carriers, use thexchange to reduce their cost of service, improve route quality and expand revenues by reaching new markets without extensive network build out.
Thexchange’s Members input trade parameters and the system automates sales and purchase order execution, complex calling code matching, call routing to specific breakout destinations and manages the quality of service of traded capacity. The system also handles the credit risk management, billing and commercial settlement aspects of these transactions. Arbinet-thexchange also distributes spot market transaction data that provides carriers with reliable pricing, quality and routing information for use in planning and negotiations. These products include AXCESSCODEsm international calling code breakouts.