BizAutomation's bill-pay solution automates and digitizes the entire invoice processing workflow, from capture to payment, streamlining the accounts payable operations.
Step-1: From a messaging inbox in BizAutomation, you'll click to open the vendor invoice (usually a PDF).
Step-2: The invoice is parsed and compared to the original PO. Inconsistancies between the vendor invoice and PO are flagged (e.g. unit cost, quantity, items).
Step-3: After approver reviews, and resolves inconsistancies if any, they approve payment, and an ACH payment is sent.
Multi-Template Invoicing - Data driven documents you share with your customers, vendors, and partners (including Quotes, POs, etc..) can be completely customized in just about any shape and form you can imagine, and that includes templatization, where for example, different versions of invoices can be used for different business strategies, including multi-company or brand designs that can map to different customers depending on geography, business segment, etc...
Fully or Partially invoice orders:
Auto-create Invoices - Based on your specific triggers and workflow rules, preventing human error, and wasted time that can be used for more productive purposes.
Fulfillment Invoicing - Automates invoice building so that when product is fulfilled and packing slips are generated, invoices mirror packing slips with matching values.
Invoice Broadcasting - Automatically invoice customers using custom email template and workflow rules. Broadcast invoices out when products ship using batch sales fulfillment. Messages are added to the order correspondence history creating an audit trail.
Available within BizAutomation's accounting modules (includes full drill-down where appropriate):
Multi-Currency Management: Set trading currency by customer / vendor, and BizAutomation will manage gain / loss per transaction, and if set to API by currency automatically update foreign to base currency exchanges.
Transaction Auditing: Track 16 separate transaction types by vendor and customer, including sales orders, purchase orders, invoices, bills, payments, RMAs, credit memos, etc...
G/L Transactions: Track filtered G/L transactions from within customer and vendor records.
Customer & Vendor Financial Terms: Set net-terms and credit limits that govern sales orders and purchase orders.
Cross-referenced Sales Orders (SOs) & Purchase Orders (POs) : When SOs and POs are linked, SOs, and their invoices (and in some cases packing slips) link to their related POs and Bills.
Multi Entity Segmentation - HQ / Subsidiaries / Territories
Ideal for organizations with multiple subsidiaries, branches, etc.. dispersed across states, and countries (e.g. Locations in Canada, Mexico, U.S.).
Time, Billing, & Tracking - Because both time and materials, as well as fixed bid projects revolve around time, we created time contracts, which at their core are score cards that can be assigned to each project. As time is allocated to tasks, the score card is updated, decreasing as project time is consumed, so it can be compared against the original budget on a leader board, to help manage the velocity of the project.
Project Labor Billing - Add time as a service line item within a sales opportunity in the CRM’s opportunity management (presented in a Quote or Estimate) then once approved, and converted to an order, it can be billed - automatically updating the project’s P&L.
Profit & Expense (aka P&L) - From the project, track expenses from costs, such as payroll, and other purchase expense line items in purchase orders, as compared to profit from income tied to billable services, and profit margins coming in from sales orders.
Employee & Partner Commissions - Both internal and partner resources (a partner can be a reseller, subcontractor, dealer, etc..) can receive a percentage of the commission minus shipping amounts, credit liabilities, refunds, and taxes. Exclude taxes, shipping costs, as well as shipping markup as needed.
Commission Base - Sales commissions can be based on amounts paid to invoices, total order sub-total, or gross profits (gross profit can be based on a number of formulas).
Multi-Dimensional Commission Formulas - The commission wizard provides the ability to set formulas that incentivize different employees and independent selling partners and subcontractors (e.g. 1099) differently across the same range of items, quantities, and amounts sold. Different formulas can be configured to support any number of incentive strategies, so for example when defining a partner incentive, you might have a tier that starts at higher minimum selling ranges but pays a better commission in return.
Share commission reports with drill down - Everyone with a commission incentive has the ability to see their own incentive status, to find out how much they’ve made for a pay period, or how close they are to reaching a new milestone. Each commission amount can be drilled into, so that the source order, and invoice involved can be audited to confirm that everything is on the up and up.
Managers and senior staff will be able to configure permission to expose all amounts due across all employees and partners, while exposing payroll and commission information to each employee individually where required, without exposing sensitive financial information from other employees and partners.