Verisae's financial management product
Verisae's financial management product helps organizations manage their service-related asset calls more efficiently. When managing the financial implications of equipment service, it is important to ensure work rates are adhere to, contracts are followed and invoices are tracked all while maintaining an efficiency process.
The financial management module helps organizations manage contracts, handle electronic invoicing, automate service processes, enhance accuracy, and save on service costs. Administration team members are forced to waste valuable time checking paper invoices against work orders and contracts to ensure service accuracy. Often, it is difficult to identify billing errors or reveal instanced when contractors round up when presenting bills. Organizations need to streamline service billing processes and ensure compliance.
Organizations face barriers to financial management to the asset level:
• They may have problems accessing service contracts and attaining relevant financial details on an efficient basis.
• Their employees will be burdened with a manual process for dealing with work orders and invoices.
• They will be unable to efficiently confirm billing rates and are being billed in accordance with service contracts.
Verisae's financial manager product helps by:
• Automating the invoice process
• Providing a paperless billing accuracy tool
• Checking to ensure that the correct rates are being billed
• Ensuring that financial contracts are adhered to
• Eliminating the administrative burden of information collecting
Experience the benefits
• Accounting and administrative team members can be more efficient with their time as they can eliminate the time-consuming tasks of checking submitted bills against works orders, invoices and contracts.
Verisae delivers quantifiable value
The administrative department will save a significant amount of money by receiving, reviewing and approving of invoices electronically. It is estimated that the cost to review and pay an invoice manually can be as much as $7 per item.
By ensuring that contractors adhere to the rates previously agreed upon and do not round up their invoices, as much as 1 to 2% of the total work order spend can be saved.