Frequently Asked Questions

What are Parent Services?2024-02-06T11:18:53+00:00

Vendor services are sometimes invoiced in a different manner than they are sold. For example, an internet connection could be
sold for $100/month but invoiced as $85 for bandwidth and $15 for the modem. While billed separately, these services will more
than likely be renewed and canceled together. MiSO3 establishes a family relationship for such services, allowing users to view
each individual service while also taking action on them as a single entity.

What is CMRC?2024-02-06T11:18:19+00:00

CMRC stands for Calculated Monthly Recurring Cost. To facilitate easier cost comparison across products and vendors, MiSO3
normalizes these costs by both currency and billing frequency.

What is an event date?2024-02-06T11:17:47+00:00

An event is the date inflexion point regarding your vendor commitment; this is calculated by subtracting any advanced notification period (for change) from the services end of term date. For example, if your services end-of-term date is October 22nd and you need to provide 90-days advance notification for change, your event date would be July 24th. This is the date you must act, or your contractual automatic renewal will apply.

Is there a limit to vendors or accounts I can track in MiSO3?2024-02-06T11:17:17+00:00

No. MiSO3 has been architected to scale for the largest of organizations, track an unlimited number of vendors, accounts, and services.

Can MiSO3 track my cancellations to ensure they come off my invoice?2024-02-06T11:16:50+00:00

Yes, by entering the cancellation date of your service (also known as the termination date), MiSO3 will monitor specific services to ensure they are removed from your bill when they are supposed to.

What can MiSO3 do in my portal?2024-02-06T11:16:24+00:00

MiSO3 is an extraction solution. It does not order, modify, or cancel services.

How does MiSO3 get my vendor data?2024-02-06T11:13:35+00:00

MiSO3 can extract your data from invoices, portals, and API connections. Whether you forward an email or grant MiSO3 access permission, it will take care of the rest.

How do I give MiSO3 access to my vendor portals?2024-02-06T11:09:59+00:00

Each MiSO3 environment is assigned a secure email address. Simply use this email address and set MiSO3 up as a user in your vendor portal. Feel free to be creative with the name you provide, though Mike or Mary Miso are always popular choices!

Can I run reports in MiSO3?2024-02-06T11:09:27+00:00

Yes, and much more. Quickly identify changes in costs, updates, and last-mile locations. MiSO3 not only reports but also provides predictive analytics, so you don’t have to.

What types of services does MiSO3 help?2024-02-06T11:09:00+00:00

MiSO3 can track nearly any type of recurring service commitment, including telecom, software, and licenses.

Can I assign internal owners to my vendors?2024-02-06T11:08:34+00:00

Yes, services can be assigned at the vendor, account, and service level.

Can MiSO3 help me with market-to-market cost comparisons?2024-02-06T11:08:13+00:00

MiSO3 empowers users to obtain reterm pricing directly from current suppliers and seamlessly integrate into existing contract pricing applications.

Can MiSO3 help me avoid auto-renewals?2024-02-06T11:07:30+00:00

Absolutely. MiSO3 tracks all services and informs users in advance of a pending renewal. Additionally, with “Refresh,” MiSO3 can automatically request an updated quote from your supplier for a term extension.

What is the term of a MiSO3 license?2024-02-06T11:07:03+00:00

MiSO3 is offered on a 12-month license

How often does MiSO3 update my data?2024-02-06T11:06:44+00:00

At minimum, MiSO3 updates services on standard billing frequencies. For services forwarded into MiSO3 directly by users, the platform will track and alert to any service not updated on its expected interval.

Is MiSO3 secure?2024-02-06T11:06:16+00:00

MiSO3 was designed from the ground up with security at the forefront. The SaaS platform is cloud-based, utilizing Amazon Web Services (AWS) for all our critical infrastructure. We leverage the most advanced AWS network and infrastructure security, endpoint security, data protection, encryption, and identity and access control permissions.

Additionally, MiSO3 undergoes an annual Well-Architected Review (WAR). This review harnesses the combined experience of AWS Solutions Architects to assess our platform against identified best practices and core strategies for architecting systems in the cloud. The evaluation focuses on various areas such as performance, reliability, sustainability, and security.

Can MiSO3 align its data to our internal systems?2024-02-06T11:05:07+00:00

“Compare” is an advanced MiSO3 solution that utilizes machine learning to match and reflect what is the same and what is different between internal systems and vendor invoices.

What is a data integrity score and how do improve it?2024-02-06T11:04:39+00:00

Data integrity is a proprietary scoring system within MiSO3 that indicates how prepared you are to make a timely future decision, leading to predictable savings outcomes. Poor data integrity often results from not knowing when to request a refreshed quote from your existing or a new supplier.

Why are services difficult to track?2024-02-06T11:03:56+00:00

Unlike capital purchases that depreciate quietly on a balance sheet, services are typically operational expenses that can vary based on volume, cost, and need. Additionally, due to the predefined end-of-term action, not acting timely on a service commitment can introduce a term extension or expiration.

What is a service?2024-02-06T11:03:17+00:00

A service is a vendor commitment that has a beginning and end date, a cost throughout the term, and a predefined end-of-term action. This action is typically an automatic renewal.

How does MiSO3 charge?2024-02-06T11:02:44+00:00

The MiSO3 platform (Direct) is billed based on the number and value of services it manages. At a fraction of a penny for each dollar spent, users often realize an immediate ROI with significantly improved efficiencies.

Is MiSO3 a contract management system?2024-02-06T11:02:13+00:00

MiSO3 manages service terms often not included in high level contracts. This can includes renewal events, locations and users served, and costs.

Is MiSO3 a TEM (telecom expense management) platform?2024-02-06T11:01:43+00:00

Not exactly. TEM’s primary mission is to review invoices and feed accounts payable. This is typically a rear-facing role as int informs you of what you did last month or quarter versus what is upcoming. MiSO3, on the other hand, leverages similar data to provide operational awareness, including future decisions, throughout the organization. Through MiSO3’s Amplify solution, it can actively extract data from your existing TEM solution, transforming it into actionable insights.

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