TECSYS Inc., the supply chain management software company, has launched TECYYS’ Billing Management System (BMS) – an agile and dynamic monetising and billing management system.
The system empowers third-party logistics providers to create and bill 100% of services to their clients, eliminating lost business and billing opportunities due to lack of backup documentation during clients’ auditing process.
“Monetisation and billing of services is crucial to driving revenue growth and profitability for 3PLs of all sizes,” stated John Reichert, Sr. Director, Supply Chain Execution Solutions at TECSYS.
“For too many 3PLs, emails, post-it notes, and other forms of unstructured documentation hold essential information for monetising and invoicing of services. In addition, the launch of new business initiatives, rapid addition of customers, creative and innovative pricing and billing models can all be enabled by the latest in TECSYS’ BMS, which makes it possible, for the first time in the industry, for 3PLs to truly bill 100% of services rendered,” Reichert enthused.
TECSYS’ BMS empowers 3PLs to accurately monetise, manage current and potential services billing, track costs on an activity basis, reduce collection times, and heighten client service levels. It can also be leveraged to eliminate time-consuming manual processes and help avoid missed billing opportunities and lost revenue.
As a central system, TECSYS’ BMS captures billing requirements for all customers across all facilities with consolidated invoicing. In addition to warehousing, TECSYS’ BMS can provide billing of other services such as transportation and delivery management and value-added services.
The BMS system enables 3PLs to schedule billing based on events such as contract renewals, materials handling transactions, warehouse capacity utilisation or client-specific events. For example, the system can trigger billing based on recurring warehousing, or for any periodic, non-transaction-based charge. The out-of-the-box system can use any variable of the more than 260 monetisation rules already built in.
Holistic visibility and traceability are hallmarks of TECSYS’ BMS. The system enables 3PLs to see variables and unforeseen situations in detail, down to the item level. If desired, data auditing may be delegated to the client, and detailed cost justification can be transparent during the auditing process to reduce costs.