Invoices are ingested directly into the system through the quote module, or by integrating with CRM like Salesforce. Once the opportnity is closed an the data can be pulled into the system for invoicing to relevant insurance company.
Data analytics can be used to highlight over due invoices in advance, also insurers compliance to invoicing and to showcase expected cashflow vs actual etc. This helps in better budgeting and cost allocation.
Dashboarding facility for the CFO helps them get a quick overview which can be drilled down to further details. Pending invoices, expenses, incentives etc. by business, geography, teams etc. helps clients visualise and stay updated on the go.
Considerable benefits are garnered with the use of "Vector". Generating invoice on the right time and ensuring they are paid on time improves the organisations ability to generate even more revenue.
With a Dashboard representing expenses etc. across the organisation, it helps in cost control and monitoring before it escalates. Also this helps keeping every team member aligned to the business and budget objectives.
Customer experience improves significantly as people understand the process and can they align themselves towards it.