Intersoft ERP: Formerly known as INTERAC ERP
The Problem:
Manual Bill Management Leads to Inefficiency and Errors
Manual bill management can result in:
01
Lost or delayed bills, making it hard to track what’s due and when
02
Late payments, leading to penalties, disrupted vendor relationships, or poor credit
03
Duplicate payments, due to untracked bills or miscommunication
04
Inaccurate financial records, which could impact your cash flow and profitability
05
Time-consuming approval processes, requiring manual review and approval for each bill
Key Features of Bill Manager
Manage Your Bills Efficiently with These Key Features
Automated Bill Capture
Automatically capture and import vendor bills into the system, reducing the need for manual entry and minimizing errors.
Bill Approval Workflow
Set up custom workflows for bill approvals, ensuring that the right person reviews and approves each bill before payment.
Bill Matching
Automatically match incoming bills to purchase orders or contracts to ensure accuracy before payment.
Flexible Payment Terms
Manage vendor payment terms, including due dates, discounts for early payment, and payment schedules.
Bill Payment Scheduling
Schedule payments in advance and make automatic payments based on due dates, ensuring timely settlement and avoiding late fees.
Multi-Vendor Management
Manage and track bills from multiple vendors, ensuring a unified view of what’s due, pending, or paid across your entire supply chain.
Vendor Portal
Allow vendors to submit invoices and view payment status through a secure portal, reducing back-and-forth communication.
Payment Tracking
Track payment status for each bill, including partial payments and payment history, for better cash flow management.
Tax Management
Manage and calculate taxes on bills automatically to ensure compliance with local tax regulations.
Customizable Alerts and Notifications
Set up custom alerts to notify you of approaching due dates, pending approvals, or discrepancies between bills and purchase orders.
How Does ERP Billing Manager Works
From Bill Receipt to Payment in a Few Simple Steps
Capture Bills Automatically
Upload bills automatically from vendor portals, email, or file uploads, reducing manual entry and errors.
Review and Approve Bills
Assign bills to relevant team members for review and approval using customizable workflows. Approvers can easily track pending bills and approve them.
Match Bills to Purchase Orders
The system automatically matches bills to their corresponding purchase orders to verify accuracy before approval.
Schedule Payments
Based on due dates and payment terms, schedule payments to vendors and make payments through the system, ensuring they’re paid on time.
Track Payment Status
Once a payment is made, track its status directly within the Bill Manager. Partial payments, payment dates, and balances are easily visible.
Generate Reports
Generate detailed reports on paid and unpaid bills, vendor payment histories, and upcoming due dates to ensure accurate financial management.
Key Benefits of ERP Billing Software
Save Time, Reduce Errors, and Ensure Timely Payments
Automate Bill Entry and Payment
Automate bill capture and payment scheduling, allowing your accounting team to focus on strategic tasks rather than manual processing.
Simplify Approvals and Payment Workflows
With customizable approval workflows, you’ll ensure bills are approved by the right people without unnecessary delays.
Improved Cash Flow Management
Keep track of pending and paid bills, schedule payments in advance, and avoid late fees, all while keeping your cash flow under control.
Increased Visibility into Vendor Payments
Easily track the status of each bill, including overdue payments, partial payments, and upcoming due dates, improving financial forecasting and vendor management.
Avoid Duplicate Payments
By matching bills to purchase orders, you can avoid paying duplicate invoices and ensure your accounts are accurate.
Module Integrations
Integrated for Seamless Financial Operations
Connected Modules:
Accounts Payable
Synchronize bill data with accounts payable to ensure that every bill is paid on time and properly recorded.
General Ledger
Automatically post approved bills and payments to the general ledger, ensuring that financial reports are accurate.
Purchase Order
Match bills to purchase orders and ensure that the amount being billed is consistent with what was ordered.
Cash Manager
Monitor your available cash and payment schedules to ensure you have enough funds to cover upcoming bills.
Bank Reconciliation
Reconcile your payments with bank transactions to verify accuracy in your accounts payable and bill payments.
Use Cases by Industry
Bill Management for Every Industry
Retail
Streamline the processing and payment of vendor invoices for inventory, products, and store supplies.
Construction
Track bills for contractors, subcontractors, and suppliers, ensuring timely payments for work completed.
Healthcare
Manage and pay vendor bills for equipment, services, and supplies while maintaining proper documentation for accounting.
Manufacturing
Automate the payment of bills from multiple suppliers and subcontractors involved in the production process.
Technology
Process vendor invoices for software subscriptions, hardware purchases, and consulting fees, ensuring accurate billing records.
Non-Profits
Track and pay bills from donors, service providers, and operational expenses while managing tight budgets effectively.