Keeping track of invoices


Problem description– The $50 million company in the facilities management business had clients and offices across the country. Invoices were generated at corporate and sent to the various branch offices to be handed over to the client. The company had a problem keeping track of where the invoice was, was it accepted by the client and alsowhich payment received in the bank pertained to which invoice.

Solution – We created an invoice tracking and management solution for the company. We integrated the invoicing and the bank statement into the system. As soon as the invoice was generated, it would appear in the tracking system. When the mail room mailedthe physical invoice to the branch office, they recorded the date and time of dispatch.

The branch office recorded the date and time of receipt of the invoice. When the invoice was handed over to the client, a signed receipt was taken and an image / scanned copy of the same uploaded in the system along with date and time to record receipt and acceptance from the client.

Once payment isreceived in the bank, the system triesto match it to the pending invoices for that customer. In case of a match, it marksthe invoice as paid. If the amount does not match, the pending invoices and payment is display on the reconciliation screen, where the user from the accounts team can allocate the payment to pending invoices.

We also created a dashboard for the management to get a single view of the invoices and payments with the ability to drill down from Corporateto region to branch to customer. We also gave an ability for the account executives to view this information for just their accounts. The management also uses this to track performance of the account executives.

Benefit – the company now has a clear view of where the invoice is, what the bottlenecks are, which customers have issues with approving invoices, which account executives are doing a good job / poor job, how long it takes to get paid by each customer.