INV_Benefits of InvoicingSM

Benefits of InvoicingSM

Typical invoice processing can be a labor-intensive job, involving handling paper invoices, processing supporting documentation, and managing disputes.

InvoicingSM simplifies this process by offering servicers and vendors a solution that provides electronic bill presentment, processing, and payment solutions. This saves time and eliminates error by automating every aspect of the billing and invoice process.

Servicers determine which loan data is added to InvoicingSM through file upload during the implementation process. Daily updates from the servicing platform to InvoicingSM keep impacted loan data current and add information for new loans. Vendors create invoices in the InvoicingSM standardized format and present them electronically to the servicers.

InvoicingSM enables all parties to streamline their overall processes and improve efficiencies by:

Interfacing with the servicer's system of record
Minimizing duplicate efforts and lost invoices
Providing information in real-time
Presenting a customizable and configurable application to individual users
Automating billing and invoice processes
Ensuring compliance with industry-mandated guidelines by incorporating custom business rule engines
Enabling communications between all parties from one platform
Storing documentation for future reference

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