A leading medical equipment provider in the US who specializes in the design, creation, and sale of medical devices – including intelligent frames, mobilization and transport equipment, therapeutic mattresses, ventilators, monitors, and more.
The company required a system that could integrate with Asset, Patient, and Usage data from their ERP and CRM systems and use this data to provide comprehensive invoicing and AR functionality. The Billing Platform would provide the customer with Merchant Gateway Integration; dynamic invoicing in multiple formats; accounting Integration; reports; alerts; configurable dunning; usage and subscription rating; asset tracking, tax calculation, and customer care.
In short, the desired system would centralize orders, asset tracking, invoicing and AP to create a one-stop-shop for managing inventory, delivery, customers and revenue across the enterprise and remote client sites.
Usage Collection Integration
The Platform’s configurable usage collection and mediation mechanism makes it possible to seamlessly integrate multiple ERP systems and data from remote devices in the field to diverse products and services for automated, real-time monetization.
Granular data from these systems and devices is also captured for use in tracking Sales Order performance, asset availability, customer rate thresholds to promote efficiency across the inventory and delivery process, completely automated asset scheduling, rating and invoicing.
Preferred Pricing and Rate Capitation
Automated collection of Customer usage and spending data is also critical to support pricing and discounts based on consumption to support sales initiatives, contractual obligations and usage incentives.
The company required the ability to offer preferred pricing based on configurable attributes and thresholds made possible by a completely customizable product catalog; Customer Contract and rate setup; and customizable application data model and User Interface.
The combination of custom data structure, user interface, product catalog and rate structures provided the ability to easily manage and configure preferred pricing at a global as well as customer level so that the system can automatically select rates based on current and past usage leveraging any custom attribute related to customers, products and rate plans.
Like Preferred Pricing, the company needed the ability to implement Rate Caps to enforce contractual obligations based on sales and order incentives. The platform made it easy to set up tiered pricing configurable at both the product and individual customer level to reflect exactly what was defined for each customer.
The Platform’s configurable invoicing and e-file features make it possible to quickly and easily configure display information about Preferred Pricing and Rate Capitation, customized to the needs of each customer to stream-line AR by reducing billing inquiries through better bill presentment and supporting automated AP processing via EDI. The System comes with the standard ability to configure and send electronic versions of invoices in any format such as CSV, XML, and EDI based on any related, standard or custom field in the system.
The company can utilize built-in invoicing templates and invoicing cycles configurable at the individual account level to automate the generation and delivery of invoices on a defined interval such as Monthly or Weekly, or define event-based invoicing cycles to create and deliver invoices based on events like Patient Discharge and Equipment Return in real time.
In addition to full automation the system also provides the ability to create manual and ad-hoc invoices on the fly as needed.
Built-in, configurable report and dashboard features make it possible to combine usage, inventory, order, sales, and revenue data and provide a comprehensive view or the inventory-to-order-to-cash cycle. Unlimited, custom reports and dashboards provide information to support operations, sales, accounting, collections and customer care in a format that is easiest to understand in a granular or summarized format.
The system’s role-based security ensures that the right people have access to the appropriate reports and system features making data easily accessible and highly secure. Dashboards and reports can be made available at any location in the system so that information is conveniently accessible within context.
The company can now select a particular Account and easily access a custom dashboard with information about product usage, pricing, AR, and anything else that is relevant for managing operations, support and sales. High-level summary dashboards reveal global product and customer performance on any metric desired.
Managing business that requires knowledge and tracking of equipment across diverse sites and clientele with multi-dimensional pricing requires a flexible system capable of integrating with diverse systems into a platform that looks and acts according to specific business needs for customer, inventory and product management.
The Platform provided a system that directly reflects the business and elegantly solves business problems easily and efficiently with a configurable Data Model, User Interface, System Integrations, Business Processes, Rules, Rating, and Product.
With the Platform, the customer can increase visibility across the entire monetization life cycle while automating critical integration and business, AR and invoicing processes. The ease with which this is accomplished along with the cloud delivery also provides the ability to scale both functionally as well as for volume at minimal cost - quickly and efficiently.