It is a well-known fact that almost 50% of invoices issued on a regular basis contain inaccuracies if they are generated manually using diary reminders with a standard billing system. If an invoice is inaccurate it will be disputed and will ultimately affect your cash flow and this adds to the administrative burden of your AR department.
Contract & Service Billing (CSB) for Infor SunSystems is designed for recurring contract invoicing, recurring service invoices and ad-hoc invoices. It delivers advanced functionality that works together with your business processes to remove manual tasks from the invoicing process, increasing both data accuracy and efficiency.
Also described as contract billing, recurring invoice billing enables the user to establish and invoice contracts that are generated on a periodic basis. A contract can be created with date driven billing points and amounts. The invoice(s) will then be automatically generated, as an optional step an invoice can be generated as a “draft” and sent for internal approval before a final invoice is generated which can be emailed to the customer or printed for manual dispatch.
For annual or term based contracts the system has the added benefit of automating the revenue recognition with the appropriate amounts being accounted for in the correct period and year.
Ad hoc invoicing gives the user total flexibility and control over the production of one-off invoices. The invoicing module of choice for ad hoc invoicing, CSB is easy to both set up and use. Any number of custom invoice templates can be created to suit any customer specific formats and like recurring invoices an approval stage can be included before a final version is generated.
CSB offers organisations with complex billing requirements ultimate flexibility to manage their billing process in the most efficient way possible, thus cutting down on time, effort and improving data accuracy which leads to real savings for the AR department.
Ad hoc invoicing gives the user total flexibility and control over the production of one-off invoices. The invoicing module of choice for ad hoc invoicing, CSB is easy to both set up and use.
Flexible invoice posting and invoice layout per invoice type and/or customer. Multi-currency capability
Robust controls via invoice approvals matrix and extensive invoice calculation codes. Full integration with Collect and Advanced Inquiry.
Price books and extended descriptions give greater visibility of data for improved accuracy