Unlocking Advanced Features

Invoicing – Cashflow

In this series, we will explain how to streamline your invoicing process and improve cashflow.

Invoicing can be complex for certification bodies. It involves many variables such as on-site and off-site hours, certification fees, travel costs, and other specific hour and cost types. Issues also arise from incorrect or incomplete booking by auditors and back-office. Time writing and booking hours remain a struggle for every company. Tracking clients’ payments is also crucial. Late payments can negatively impact your cashflow, business growth and operations. Lastly, disputes over pricing or services provided and discrepancies between the invoice and the contract terms are ongoing challenges for certification bodies.

Streamlining the invoicing process can greatly improve your business’s efficiency, cashflow position, and enable growth. We help certification bodies to streamline their invoicing process and improve cashflow.

How would this process look with Zertic?

1. Customize Invoicing Process

Our advanced functionality enables you to customize your invoicing. Zertic workflow engine can be configured to trigger (partial) invoices automatically.

Invoicing can be tailored to your preferences and needs. Some prefer to invoice all hours and costs incurred up to the formal review, and then send a second invoice before providing the certificate. Other companies opt to charge 50% upfront and bill the real-time hours and costs after the certificate is provided. So that billing cycles can be fully customized to your needs by adding invoicing workflow triggers.

2.Create automatic invoices

Zertic has developed the invoicing module to meet the specific needs of certification bodies.

Budget hours are derived from the quote and audit program. Actual hours are based on the auditor’s input and real-time tracking. Expenses include travel, meals, and hotel costs. Audit-related costs encompass registration fees and certificate fees.

A draft invoice is automatically created by the Zertic system, containing all relevant data and is linked to the right project. The finance team can check the invoice for the correctness and completeness of the (additional) hours and costs. After approval, the invoice is pushed to the next step actual invoicing. For larger companies, this creates the segregation of duties and “four-eye” principle. For smaller companies, we can automate this step.

3. Integration of another financial systems

Zertic offers an API integration with all financial systems. You can generate the invoice using Zertic and transfer all data to your financial system, or you can utilize your financial system for invoicing. Through the integration, the actual payment status will be transferred and displayed on Zertic.

Invoicing through Zertic has numerous advantages, including the ability to delve into all the details and make invoicing decisions. Reminders are sent through Zertic. You can manage all processed invoices under one tab and see the history of invoices. Additionally, you can communicate with your customers easily and effectively..

Key Features!

 

  • Choose the billing cycle – before an audit is performed or after an audit is done

  • Define payment agreement

  • Manage all processed invoices under one tab.

  • Set up cancellation fees

  • See the complete history of invoices

  • Track the status of invoice payments; paid, partially paid, or not paid (overdue).

  • Automatically generated invoices every 24 hours

  • Customize your invoice template

  • Invoice manually or automatically

  • Link your bookkeeping system like Oracle to Zertic

  • Recalculations option on quote

  • 3rd party billing

  • Invoice additional hours that are not included in the quote

  • Choose to send the invoice digitally and/or physically

Please schedule a meeting to see it in action and learn more.

Wanna learn more about Zertic?

Unlocking Zertic Advanced Features

 

In this blog, we summarized the process from a client application to provide a contract, to stay up to date and get the recent blog posts sign up here. Plus we will send you the end whitepaper after we publish all the content.