Invoice management

iFACTS INSMAN - Invoice management - To produce, distribute and monitor invoices and payments.

Example of invoice activities and information accessible in the Invoice portal:

• Auto generated invoices from insurance policies.
• Handling of premium taxes.
• Invoice distribution (email, printout, auto invoice to financial system).
• Export to financial systems.
• Invoice monitoring.

Information is gathered from the insurance policy including company name, contact person, policy number, period, coverage, premium tax, discounts and the premium. Invoice templates are used to specify bank account #, payment terms, VAT etc. The invoices are summarized in a list and can be mass distributed. The payments are monitored and cash flow KPI can be continuously monitored.

INSMAN Invoice management functionality

Dynamic setup of organizational structure and roles in the main administration, creation of company tree and roles. Connection to active directory. Access control system.

Invoice Templates to customize the invoices. Can be printed to Word/Excel/PDF/XML.

Summary invoice: Invoice including several insurance policies.

Differential invoice: Invoice dividing the premium into several invoices.

Credit invoice: Created with unique number and connection to original invoice.

Communication center that can be used to distribute the invoices.

Connectivity: Connectivity with external data sources such as financial systems export and import.

Periods and archive: Support for several insurance years and history.

Report generator a wide variety of reports/settings can be created and saved as templates.  All of these reports can be exported to Excel, Word, PDF, Text. For example Cash flow report or Accrual premium report.

Search can be conducted according to selection on all registered data, for example, organization, type, status, category, line etc.

To schedule a demo of the iFACTS INSMAN product.