Gotransverse Billing Implementation Enables Higher Revenue

case study

Gotransverse Billing Implementation Enables Higher Revenues, Lower Complexity

Industry: Financial
Services: Mortgage Services

CLIENT BACKGROUND

The client, a mortgage services provider, needed to upgrade their billing and rating systems to overcome manually updated, complex processes.

BUSINESS CHALLENGE

  • 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.