Vincent Brennan is the new chief executive officer of BroadSource, taking over from serial entrepreneur Tripp Rackley.

BroadSource, a four-year-old company, has developed a technology platform and a variety of services to assist companies not only reduce errors in phone bills but to prevent errors before they are made. Phone bill errors are estimated to be $50 billion a year, according to some research, and BroadSource says it can reduce mistakes by 20 percent or more.

The company already has several clients, including phone companies.

BroadSource closed on a $5.7 million round of venture capital in July. Rackley was among the investors. He will remain chairman of the company.

Brennan comes to BroadSource from Digital Insight, where he was senior vice president of sales and customer care. He also becomes a member of the BroadSource board.

“We are pleased to have someone of Brennan’s caliber join BroadSource’s already strong management team,” Rackley said. “Vinnie is a seasoned executive who knows how to build a multi-faceted sales structure, increase revenues and generate interest and adoption of relevant technologies such as ours.”

Brennan will be charged with building a sales force.

“BroadSource’s mission to help companies gain visibility into their telecommunications spend in order to recover costs, gain increased efficiencies and prevent unnecessary costs has real relevance in today’s complex telecommunications environment,” Brennan said. “With the exceptional talent of the existing management team, the recent capital infusion and a solid technology platform, BroadSource is well positioned for the future,”

Other investors in BroadSource include Noro-Moseley Partners and Harbert Venture Partners led the round. Also investing were Michael McChesney, a former executive with S1 and WebTone Technologies, Bill Scott of ITC Holding, and Said Mohammadioun, chairman of Synchrologic plus other individuals. Rackley is entrepreneur in residence at Noro-Moseley.

BroadSource: www.broadsource.com