Automated billing schedule
In every industry the billing and invoicing process can be problematic. Management can easily lose track of when to invoice and this sometimes results in a pivotal month where there’s no cash liquidity because invoices simply weren’t issued as quickly as they should have been. Procim was designed to resolve this issue, with all sales invoices generated from a billing schedule. The billing schedule is comprised of billing items created from elements of project budgeting data such as:
- Project Acceptance Forms (PAF)
- Project Change Notices (PCN)
- Client Estimates (Budgeted Revenue)
- Time and Materials/Expenses
- Client POs
The billing schedule provides immediate visibility of scheduled billing, invoiced to date as well as amounts to be invoiced and issues automated billing notifications to key personnel when billing items become due, prompting them to issue the relevant invoice.
Invoice items are automatically created from corresponding billing items. Payment due and expected dates can be recorded to assist with cash flow forecasting. Invoice templates are customised as a part of the implementation process based on your business requirements and incorporate terms & conditions, company logo and payment terms. With Procim, management and finance have complete insight into the billing process and therefore ensure that invoices are issued on time and correctly.