Automated billing and contract management

Need: A solution to automate billing and contract management to quicken invoicing processes.

Description: To improve business processes, a CFO requires a contract management solution that will allow the organisation to create contracts to send out to customers, in line with any revenue recognition required. The business wants the platform to automatically create invoices on a specified schedule as well as perform bill runs, with the option of updating bill dates when required.

Strategy: Cloud Accounting

Solution: A Cloud Accounting solution is a perfect fit for this organisation due to contract management capabilities built natively within a cloud-based platform. A Cloud Accounting solution can automate the contract renewal process, as well as schedule and send invoices automatically based on a pre-defined schedule. The organisation will also become more flexible and robust by having the ability to update bill dates based on customer requirements, as well as automatically meet revenue recognition standards.

Benefits

• Central control of Contracts
• Reduction of time creating renewal contracts
• Reduction of duplication of effort for creating Contract, then Invoice.
• Easy to amend bill dates, allowing flexibility for customer
• Automation of revenue recognition