SoftCo AR eInvoicing enables organizations to deliver legally compliant, digitally-signed invoices electronically to their customers. AR eInvoicing provides a flexible solution for billing customers, allowing them to make the transition from paper-based billing to e-invoicing when they are ready. Customer experience is optimized using SoftCo Portal which allows customers to access their billing information online, allowing queries to be settled faster, and reducing the propensity of customers to log calls with support. AR eInvoicing reduces the cost per invoice by removing the need for paper, print, postage, and manual intervention, providing measurable return on investment.
AR eInvoicing enables the automated email distribution of invoices in PDF, XML, or EDI format. All invoices include a compliant and authenticated signature. AR eInvoicing ensures VAT compliance and reduces the risk of error by automating the applicable tax rates for goods and services. Invoices are delivered via an email with a link to SoftCo Portal, with the option of attaching a PDF copy of the invoice. Printing, posting, and in many cases, sending invoices multiple times represents a considerable cost which can be significantly reduced by delivering invoices electronically.
SoftCo Portal allows customers to access their billing information online. Portal is a white label solution that can be customized to meet each organization’s requirements, ensuring that the user experience is familiar and easily navigable. Customers have access to all billing information through Portal, including billing history, outstanding invoices, related purchase orders (POs) and delivery documents. Customers are able to access Portal at any time and on any device, facilitating them to quickly find the information that they require about a particular invoice, without the need to log calls with support.
In many organizations, the finance team spends time extracting data from different systems in order to manually compile invoices. SoftCo tools automate this process by integrating with POS, CRM, ERP, stock management, and any other system which holds relevant invoice data, producing a fully compliant, branded invoice. AR eInvoicing also integrates with existing collections processes by triggering an automated workflow. This alerts the finance team to outstanding invoices, providing full visibility and tracking, and facilitating faster debt recovery. Automating the collections process assists in efficient cash flow management, improved revenue assurance, and reduced Days Sales Outstanding (DSO).
AR eInvoicing provides visibility over the entire accounts receivable process, enabling extensive dashboard reporting of KPIs that are important to the organization. KPIs include accounts receivable turnover; Days Sales Outstanding (DSO); doubtful and bad debts metrics; and monthly rollover. This level of visibility facilitates the timely completion of month-end close, enables the finance team to focus on value-added work, and provide management with more relevant metrics and reports. Access to accurate data ensures that the finance team is equipped to become more strategic decision-makers within the organization, generating actionable business insights.
Submitting claims requests can be a lengthy and complicated process. SoftCo eClaims automates the processing of insurance claims. eClaims incorporates a dynamic rules engine, ensuring that claims meet all of the insurer’s requirements when submitting a claim. It allows organizations to attach, view, and retrieve supporting documentation along with the claim, limiting the follow-up requests for further information, and speeding up the insurance claims process. It provides real time visibility of the entire claim lifecycle, from initial patient registration right through to insurer payment, thereby reducing costs and improving cash flow.