We all know how tight margins are in the Channel, especially with such strong competition and ever-shrinking budgets…
To help start your 2021 off in the right way, our ‘10 steps for the perfect bill run’ will help you optimise your process and maximise your margins and relieve some of the extra pressure that 2020 wrought.
There should be two main stages in your bill run. The first encompasses all the pre-invoice checks which can be completed during the course of the month. The second covers your review of the draft invoice run before you officially post and distribute them to your customers.
Step 1 – Fixed Charge Reconciliation
This report helps to identify all pro-rated charges received from your suppliers – these pro-rated charges will relate to new connections, disconnections and one-off charges. This report should be used to ensure that all changes have been appropriately reflected within ZOEY for the respective invoice period.
Step 2 – Usage Charge Reconciliation
This report helps to identify any rejects received from your suppliers – these will be services where usage charges have been billed from your supplier but are yet to be passed on to your end customer. These charges are likely to have been rejected for a number of reasons including missing services, missing tariff classes, missing rate cards, network mismatches or erroneous CDR’s.
Step 3 – Supplier Reconciliation
This report helps to identify any fixed charges received from your suppliers that as of yet are not being passed on to your end customers. These charges are likely to have been rejected as the respective service has not been inputted into ZOEY.
Step 4 – Credit Reconciliation
This report helps to identify any credits due to be invoiced within the respective invoice period. This report should be used to ensure that all credits are appropriate and in line with what the business expects.
Step 5 – Periodic Charge Reconciliation
This report helps to identify any one-off, quarterly, annual, and bi-annual charges due to be invoiced within the respective invoice period. This report should be used to ensure that all periodic charges are appropriate and in line with what the business expects.
Step 6 – Call File Reconciliation
This report summarises all the call files that have been loaded from each of your respective suppliers for the current invoice month. The report indicates the total value of unbilled charges for each of your suppliers and whether there is any unallocated usage for the month.
Once these steps are done, your draft invoices are ready to be run.
No matter how many customers you service, ZOEY’s Cloud-based architecture ensures your run is done in minutes – not days! Book a demo today.
Step 7 – Monthly Variance Analysis
This report summarises by customer, the total fixed and usage charges due to be billed this month. This report can be filtered and sorted to identify the biggest monthly changes by customer account.
In addition, you also have the ability to drill down into the report and identify on an individual service level the reason for movements. The report will highlight for you any charges billed in the last invoice period and any charges due to billed in the current invoice period.
Step 8 – Margin Analytics
These reports help to provide detailed margin analysis for the current invoice run.
The accounts tab helps to analyse by customer, the total revenue, costs and profit due to be billed this month. You have the ability to drill down into this report and identify on an individual service level respective wholesale and retail charges.
The charges tab helps to analyse by customer, all fixed charges due to be billed this month. This tab identifies for you any loss-making charges, unallocated charges and high margin charges – each of which may be an indication that your billing is incorrect.
The usage tab helps to analyse all usage charges due to be billed this month. This tab identifies for you any loss-making calls, and in addition provides usage charge margin analysis by network, product and call type which should help to highlight any incorrect billing.
Step 9 – Credit Terms & PDF Messages
These reports detail out your current credit term set up and display the date that your DD’s will be collected. In addition, at this stage you have the option to add bespoke messages onto your invoice PDF’s if you would like to issue some base-wide communication.
Step 10 – Post Invoices
Now, you’re ready to send! ZOEY even includes a checklist to make sure you don’t miss a single step!
Whether you are a seasoned invoicing specialised, or a new Channel player, Tekton’s decades of experience, combined with ZOEY’s unlimited potential and scalability, can help support your short- and long-term growth into 2021 and beyond. Get in touch to learn more about our perfect bill run from a member of our team, and how ZOEY can help you accomplish it with ease!