Solutions / Contract to Billing

Contract to Billing

This process covers contract creation, mapping the job structure to contract structure, bill presentation, billing rates and AR integration.

CMiC's Approach to Contract to Billing:
 
  1. Contract created with Owner including Schedule of Values, which is automatically created in the CMiC system
  2. Owner reviews and approves Schedule of Values
  3.  Letters are issued to Subcontractors via CMiC Form Letters
  4. Additional Job Phases/Categories are setup, if required, from master template or copied from an existing project
  5. Generate WIP (Work in Place) using CMiC Form Letters
  6. Bill produced from information already existing in the system and sent to appropriate reviewers who can now make necessary adjustments
  7. Final billing issued to Owner for approval and payment

Major Efficiency Improvements:

  • Time saved producing revised bill
  • Elimination of the requirement to manually re-key data from cost report to bill
  • CMiC Imaging ensures all billing backup available as required
  • Production of billing back-up albums
  • Complete data integrity

Risk Mitigation:

  • Reduced delay in generating revenue
  • Reduction of potentially misplaced documents
  • Single version of the truth with billing backup
  • Reduced day sales outstanding
 

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