Our proven Expense and Data Management methodology ensures zero late fees within three months of implementation. By removing the risk of a shut-off of vital utility services, we help ensure that your operations run without interruption.
PROKARMA EMS STREAMLINES MISSING BILL RESEARCH, REPORTING AND FOLLOW-UP
ProKarma’s extensive experience across industries has informed the methodology behind our EMS Expense and Data Management offering. ProKarma EMS is characterized by transparency and consistency. Our methodology and workflows are transparent and hosted and managed in a live environment, and we provide executive key performance indicator (KPI) reports with drill-down capabilities. We have been consistently delivering on its “no lights out” and reduced late-fee commitments across all of our Expense and Data Management customers since 2009.
We also don’t rely on short cuts. ProKarma EMS does not use estimated bills or year-end true-ups. Clients get actual data month over month. Our toolkit has predictive intelligence that enables alerts for missing bills and follow-up.
PROKARMA EMS CLASSIFIES AND AUTOMATES FOR IMPROVED EFFICIENCY
During the implementation phase, the EMS team sets up an ABC classification of active account inventory by payment windows.
The billing cycle, current receipt mode, bill date, due date and payment terms are captured for each account at line item level. A line item is meter-commodity for utility bills and phone/circuit service-type level for telecommunication service bills.
A payment window is the time lag between bill generation at the vendor’s end (bill date] and bill due date. This process is completed one billing cycle after implementation. Subsequent changes to billing cycles and meter read dates can continue to be made on a daily basis.
The ProKarma EMS team reconfigures the bill receipt modes and payment methods by payment window category. Bills that are categorized “A” have a payment with window of seven days or less and are obtained via Electronic Data Interchange (EDI), email, fax, online or electronic bill. “A” bill vendors are contacted on the same day a missing bill is discovered; “C” bills are contacted within four days, ensuring that efforts are focused on the highest priority bills. Vendors are paid by Automated Clearing House (ACH) and purchasing cards (P-Cards).
Account activation and inactivation are automatically reflected in our workflows. Users can set up future inactivation dates to accommodate final bills.
A variety of vendor issues are automatically handled, including billing system and billing cycle changes, locked or inaccessible meters, and account number changes. Optimal ongoing follow-up includes monitoring trends and errant vendors, and defining vendor wise strategies and managing vendor relationships.
The Expense and Data Management solution offers a wide variety of receipt modes:
• Paper via PO Box
• Electronic Data Interchange (EDI) 810
• Comma-separated value (CSV) and text files
• Email and fax
• The EMS web presentment tool
• Vendor portals (online/e-bills)
• File Transfer Protocol (FTP) and Secure File Transfer Protocol (SFTP)