Gotransverse Billing Implementation Enables Higher Revenues, Lower Complexity
Services: Mortgage Services
The client, a mortgage services provider, needed to upgrade their billing and rating systems to overcome manually updated, complex processes.
- The client’s previous billing and ratings were done manually via excel and contributed to very complex, complicated processes.
- The current processes were very customized and lacked any type of standardization. This led to numerous miscalculations.
- Calculating ratings could take the finance team up to 30 days. This didn’t leave time for validation of services. Revisions and adjustments were reactive, not proactive.
- Real-time revenue recognition reporting was done manually so it was hard to get an accurate view of real-time revenue.
- The lack of reporting and view of real-time revenue created additional debt on their books and were unable to separate service charges from money captured for mortgages.
ATG SOLUTIONS & TOOLS
- Implementation Services: Implemented Gotransverse billing. This included the implementation of complex usage rules to validate ratings of contract and standardization of the General Ledger (GL) report and the implementation of a standardized custom invoice display.
RESULTS & IMPACTS
- With the implementation of Gotransverse, the client saw an immediate uptick and gained a significant amount of revenue that was missed previously due to inaccurate calculations around ratings.
- The finance team now has real-time validation of invoices prior to bill cycle run. Instead of the close taking one month, the team is now able to close in 5-8 days. This led to a decrease in turnaround time and workload by 80%.
- By implementing standardization in billing and products, the sales team was enabled to drive to future contracts. The contracts now are less customized and follow a consistent path for standard products and services. The result of this is an overall impact of reducing manual work and complexity.