Overview
Streamline and automate all aspects of the billing activities (invoice generation, invoice distribution, sub-ledger control etc.) and handle all aspects of billing and cash management as well as commission handling – configurable and manageable by any user. Manage billing schedules, payment frequencies, installment plans, payment channels, reconciliation rules and specific collection rules directly from IBSuite – support multiple payment channels, including but not limited to credit card, bank transfers, direct debit etc.
Key Features
- Full flexibility in defining billing properties and processes (installment plans, payment channels, collection intervals etc.)
- Configure the processes to meet your required level of automation
- Obtain a uniform overview of billing information on party, customer, policy- and claim level
- Manage not only customer balances but also party (externals, brokers, agents, insurers, suppliers etc.) balances
- Ensure full automation of payment reconciliation (placement of receivables)
- Always up-to-date and with the full overview of financial transactions that have occurred on a customer record
- Support for dunning, disputes and reminders
- Calculates balances in real-time
- Supports multi-currency on the same customer relation including mapping to different general ledger dimensions
- Configure payment- and installment plans to meet your needs
- Supports direct- and indirect billing and collection, either IBSuite managed or third-party managed
- Manage multiple payers
- Single and consolidated billing
- Several collection methods / collection types
- Customer Account Balance to manage cash allocation on- and between accounts
Key Benefits
The IBSuite Billing Engine is build to take advantage of the highly flexible product model and configuration capabilities in IBSuite. The IBSuite Billing Engine supports standard billing arrangements where policies and claims (collections) are paid i.e. by credit card or via direct debit.
The IBSuite Billing Engine also supports highly advanced business models and billing arrangements, including situations where a partner is selling a policy as a part of the partners value chain – even where the partner is collecting the money for the policy.
IBSuite Billing also supports:
- Flexible payment plan management
- Advanced configuration support for dunning and reminders for different LOBs and customer types
- Multiple flexible configuration options for payment matching, write off rules etc
- Multiple payment channels: SEPA Direct Debit/Credit, UK BACS, DK NETS/PBS, SE AutoGiro, e-invoice, SAP Payment, Stripe Credit Card Payments, MobilePay etc.