Leverages proven process to improve cash flow for architecture and engineering firms
MINNEAPOLIS, MN — EleVia Software announced today the $1M Challenge to help architecture and engineering firms that use Deltek Vision ERP uncover how to improve their invoicing and receivables process and cash flow. With this challenge, the EleVia team works with participating firms to identify areas to improve and streamline their processes, which can amount to cash flow savings of up to $1M or more.
With the EleVia $1M Challenge, participating companies learn ways to improve their cash flow including how to:
Compress the invoice-to-payment lifecycle time
· Reduce the time to prepare invoices by automating the draft, mark-up, and final approval processes between accounting and project managers.
· Identify time saving methods to address pass-through payables and consultant expenses through improved processes and automation
· Improve the creation time of final invoices and required supporting documents
Improve efficiencies and performance
· Uncover ways to reduce accounts receivable aging by utilizing automation tools
· Improve accountability and visibility via built in accountability tools
· Identify and manage Key Performance Indicators for improved performance
“The EleVia team has already completed this challenge with other architecture and engineering firms and identified key savings that decreases DSO and speeds TTI (Time to Invoice),” said Ron Noden, Executive Vice President at EleVia Software. “The participating firms have been happily surprised that a 90-minute process can help them provide a roadmap to savings of up to $1M or more.”
The EleVia $1M Challenge 90-minute process includes the following steps:
· 30-minute exploratory call with each participating firm
· 15-minute working session to collect the data on the firm’s invoicing and receivable process
· The EleVia team analyzes the results and provides a Client Measurement Model to show where savings are found and how much they may be able to improve cash flow
· 45-minute presentation of the results to the company CFO and other key decision makers
The EleVia $1M Challenge will run through 2019, however has limited availability. To qualify, firms can apply at https://www.eleviasoftware.com/products/cashflow-challenge.
EleVia Software develops, delivers and supports software to extend the value of the Deltek Vision® and Deltek Vantagepoint® ERP systems. EleVia Software products elevate and enhance key financial and operational processes for architecture, engineering and professional service firms. EleVia Software products improve cash flow, automate tasks, improve productivity, reduce operating costs, and provide valuable insight into project performance and profitability. Flagship products include EleVia Electronic Invoicing, EleVia Payables Approval &Tracking, EleVia A/R Management & Collections, and EleVia’s latest innovation, Field Services Suite, which drastically improves an organization’s ability to manage their field teams. For more information, visit www.eleviasoftware.com.