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Billing Operations Transformed For Better Revenue Management

January 21, 2021

Billing Operations Transformed For Better Revenue Management

January 21, 2021

Billing operations are critical to every institutional money manager, or wealth and asset management firm. Even so, many struggle with billing and revenue management systems that are administered with spreadsheets and other manual processes performed by staff. The right automation technology can improve operations and the bottom line.

Inefficient billing is a challenge.

Leakage. Limited Visibility. Negative Client Experience. 

  • 66.66% of firms suffer revenue leakage due to inefficient manual billing
  • 60% of firms have a partially consolidated view of their revenue streams
  • 50% of firms say that invoice reissue has a negative effect on the customer

Firms are looking to improve their processes.

Investments in automation and operational control of the billing operations processes are priorities for billing teams. They’re looking for technologies that provide more efficiency, reliability and scalability.

  • 88% of firms plan to automate more aspects of their billing operations
  • 40% of firms will take steps in the next 12 months to automate billing operations
  • 24% of firms plan to act in the next 6 months — increasing automation of billing operations

Tegra118 Technology Can Help

GAIN MORE CONTROL. An integrated solution replaces manual processes and meets audit, best-practice and industry requirements.

ACHIEVE GREATER EFFICIENCY. Streamlined, automated billing processes deliver shorter billing cycles and faster fee collection.

IMPROVE BILLING ACCURACY AND TRANSPARENCY. Automatically generated invoicing accurately calculates and presents fees.

IMPROVE CLIENT EXPERIENCE. Automation reduces the risk of costly errors that affect the bottom line and client experience.

GAIN GREATER INSIGHT. Intuitive dashboards allow you to leverage insights and produce detailed reports.

 

LATEST UPDATE: Challenger, a large annuity fund in Australia,  selected Tegra118 Advantage Fee Solutions – learn more here!

Advantage Fee™ from Tegra118 can help deliver better speed, accuracy and client experience, learn the better way for billing operations on this press release.
Intuitive dashboards allow you to leverage insights and produce detailed reports. Learn more at tegra118.com.

 

Perspective - September 21, 2020

Tegra118 Releases New Enhancements to Fee Billing and Revenue Management Solution

Advantage Fee version 8.5 includes advanced user experience and persona-based UI functionality, increased cloud compatibility, greater API integration, and new invoice automation workflow