Safe Computing launches self-bill software
Recruitment consultancies nationwide are increasingly being sent self-bills from clients, MSPs and master vendors. Each self-bill can contain hundreds of individual lines and reconciling these with invoices has proven problematic and extremely time consuming.
The bill rates the recruitment company holds very often differ to those on the VMS system. As a result, the incoming self-bills do not match the invoices generated by the agency.
The conventional approach is for agencies to raise invoices at the point of paying the timesheet using their consultant assignment recorded rates. Retrospective adjustments are then made upon receipt of the self-bill or payment to accommodate any shortfalls or overcharges. Recognising the time and effort that was being taken up, Safe consulted extensively with a leading customer in this sector in order to enhance the Self-Bill module that sits within the company’s unique Tempest Middle and Back Office solution.
The new and improved Self-Bill software has already delivered significant benefits for Human Capital Investment Group (HCIG), the specialist recruiter that serves a rapidly expanding client base representing the healthcare, built environment, engineering, not-for profit, professional services and public sectors where VMS supply is commonplace.
HCIG’s objective was to streamline self-bill processing without compromising control. The key benefits that have been realised through this partnered development with Safe include:
• Automated time and bill rate capture which allows all timesheets to be billed at VMS rates
• Automated rate variance reporting which immediately alerts consultants of rate differences so they can amend their assignments or speak to the client
• Commission being paid on correct invoice values for which the agency will be paid
• A major reduction in credits and rebills, as bills are aligned with actual VMS rates
• The sales ledger always showing a correct debt value that matches the self-bill. This is particularly important for companies with ID facilities
• Greatly enhanced DSO as all billings are payable
• The elimination of self-bill queries being hidden in ageing debt
• An efficient process for dealing with VMS systems that don’t provide an upload
• Grouping of VMS clients that enables one self-bill upload to be cover large accounts such as Comensura, Matrix and Guidant alongside efficient cash allocation and debt reporting in
Richard Cleaver, Safe’s Project Manager explained, “We worked closely with a number of clients to clearly understand the problem before starting work on improvements."
Cleaver continued, “As a result, we have introduced a range of innovative additional features to automate self-bill and Tempest reconciliation, accelerate and tightly control processing and cut administrative costs."
Yves Bizimana, head of financial operations at HCIG confirmed, “With 12 companies in the Group and a nationwide network of branches, our business is extremely dynamic. The number of selfbills that we receive has increased dramatically in recent years and combined with the growth in our business, was becoming a real drain on resources.
“We’ve now been using Safe’s upgraded Self-Bill functionality for a while and have been particularly impressed with the results. Overall, we’ve been able to automatically match over 95% of self bills to timesheets which has dramatically reduced processing time. The efficiencies gained have allowed us to reduce the resource in the area by 50% and free our team up to concentrate on areas that add greater value within our business and those of our clients”.