UpsideBilling automates
and streamlines the review
and approval processes,
ensuring that invoices and
bills fall within contracted
parameters, thereby
reducing irregularities,
errors, and costly
oversights.
overview
UpsideBilling automates verification of invoices and bills, as well as the processes for finding errors, exceptions, and special conditions; then dynamically determines the workflow required for each document and/or line item. UpsideBilling also offers a secure external vendor portal allowing suppliers to enter and submit invoices online, resulting in a faster turnaround time for invoice processing while reducing overall cost of ownership.
The automated inspection of invoices commonly includes confirmation of quantities, price, timing, billing terms, etc. based on a contract. In addition to validation of invoices, UpsideBilling can generate automatic payments in response to un-invoiced events or milestones under a contract. In support of sell-side business, UpsideBilling can be used to automate the creation of outgoing invoices and bills based on contracted activities.
Approved invoices and bills (those that pass automated inspection, have been manually approved, or that have been generated by the system) are passed to the appropriate system(s) (e.g., ERP) for continued processing, either for payment (for incoming invoices) or for distribution (for outgoing bills).
benefits
Reduces costs by streamlining Accounts Payable and/or Accounts Receivable processes.
Maximizes visibility of billing exceptions and errors to allow for early, quick resolution.
Maximizes value of contracts and agreements by ensuring appropriate and accurate billing.
Dramatically reduces time and costs to review, approve, and pay (or issue) invoices.
Reduction in effort required to manage billing disputes.
Reduced costs (for suppliers and/or you) to print and send invoices.
Full integration to UpsideContract, ensuring full contract governance including milestone, compliance and deliverables management. The integration also ensures that contract deliverables and details are matched so that thresholds, rebates, discounts and other elements are adhered to.
An accurate and comprehensive audit trail is maintained within the system that ensures appropriate financial governance controls are being followed.
Better resource utilization derived from analysis of billing data.
Invoice
validation against corporate contracts when integrated with
UpsideContract.
Integrates
with ERP / Financial Systems and other legacy systems.
Electronically
received invoices require no manual data entry/processing by
Accounts Payable staff.
Extremely
flexible with user defined business rules and customized workflow.
Receipt
of Invoice Data
Invoices
can be received in a variety of formats—no special modifications
of the data are necessary.
Invoices can be entered
and maintained directly through the UpsideBilling application.
Suppliers/Vendors can
enter invoice data into UpsideBilling through an external supplier
portal.
Invoice
data can be ‘pushed’ into UpsideBilling from the Vendor, or the
data can be ‘pulled’ from a defined repository supplied by the vendor.
Electronic
delivery of invoice data negates the need for mailroom and
intra-company delivery mechanisms.
Reconciliation
to Corporate Contract Terms
Transactional
items on an invoice can be easily compared to contract terms and
conditions.
Contract
specific workflow definition provides increased management
capabilities.
Business/Variance
Rules
Extremely
flexible range of interdependent object-based rules that can be
established to scrutinize invoices.
Rules
configuration is quick and easy to set up – rules are
created once and stored in the database.
Multiple
rules can be established in a defined order of execution.
Rules
can be established to evaluate specific data fields on the invoice
header or at the line item level.
Comparisons
can be made to previous invoices, roll-ups, or dynamic values stored
in tables, etc.
Approval
Workflow Management
Workflow
can easily be linked to the organizational hierarchy from a role or
a financial accountability perspective; multiple levels of approval
can be facilitated.
Electronic
notification to reviewers/approvers and the capability of the user
to re-route when necessary.
Ability
to withhold payment on disputed line items while authorizing payment
on others from the same invoice.
Complete
audit tracking of invoice movement.
Inquiry
on invoice status is available to internal or external stakeholders
based on security profile.
Workflow
can be based on amounts, rule conditions, services, programs,
accounting structure, vendors or vendor types, as well as other
tracked information.
ERP
/ Financial System Integration
UpsideContract
can effectively interface with any ERP/Financial system or Legacy
system that has a defined API or has a file-based interface.
Payment
data is captured out of the ERP/Financial System and uploaded into
UpsideBilling thereby providing a full invoice history.
Synchronization
of Vendor profiles and the General Ledger Chart of Accounts.
Automatic
generation of scheduled payments.
UpsideBilling
and UpsideContract combine to bring additional value.
Business
Intelligence
Uses
inherent OLAP engine to store data in cubes.
Extracts
to data warehouses and data marts can be easily accommodated.
Ability
to perform trend analysis, forecasting key performance indicator
compliance, actual versus forecast tracking, audit compliance, price
shopping, quality assurance, performance monitoring, risk
management, and other valuable analysis.
Management
Reporting
All
reports are available via the Internet for those with security
access.
The
organization’s financial hierarchy can be used as a filter to
limit a user’s access to specific business units or groupings of
units.
Several
organizationally defined ‘canned’ reports are delivered
as part of the implementation and users can easily define and filter
their search requirements according to their level of security.
Online
queries/reports can be exported in many file formats.
contact
Corporate Headquarters
Upside Software Inc.
Suite 310, 10180 - 101 Street
Edmonton, AB T5J 3S4
Canada
overview