Flexible Billing & Invoicing

FinancialForce.com understands that one size does not fit all when it comes to billing and that most billing problems are caused well before the invoice is printed. FinancialForce PSA prevents downstream problems by instilling controls at the beginning of the process.  It all starts with a flexible approval processes for timecards, expenses and milestones that ensure the right people are involved early in the billing process. This minimizes the need for rework, eliminates month end fire-drills and reduces the number of rejected invoices. Once you are ready to bill your customers, FinancialForce Professional Services Automation provides the mechanism that allows companies to put everything (timecards, expenses, milestones, etc) on one billing event or break them out based on how you have defined your billing process.  FinancialForce PSA offers one last optional check to allow your operations team or PMs to view the billing event before releasing it for invoicing.  In short, FinancialForce PSA offers a streamlined timecard to cash process.

Subcontractor management

Subcontractors can play an integral part in delivering projects in today’s virtual service organizations.   Although they are separate legal entities, subcontractors need to be managed and monitored as if they are part of your own company.  FinancialForce PSA provides subcontractors the same easy to use interfaces for time and expense entry as your own employees, delivered in a secure portal where all things that affect a project are tracked and accounted for.  Furthermore,  FinancialForce PSA delivers additional features to help manage your vendors, or have them help you manage portions of your projects. Subcontractors can track their own individual budgets for each project and view where they stand online. They can check the status of invoices submitted through an auto reconciliation process to ensure they submit the right invoice the first time and do not double bill. With FinancialForce PSA, subcontractors, project managers, practice managers and finance are all on the same page.

Highlights

• One click to generate billing events
• Billing and invoicing data viewable on project.
• Visibility into what is ready to bill, has been billed and what has been invoiced
• Vendor can submit invoices and get status through a secure portal
• Easily reconcile vendor changes
• Reverse invoices for vendors
• No duplicate vendor charges