TRC improves key A/R metric by 5 days and increases productivity 20% with add-on invoicing product for Deltek Vision ERP system.
MINNEAPOLIS, May 18, 2017— By gaining more control over unbilled Receivables with EleVia Electronic Invoicing software, national engineering leader TRC was able to reduce its Days Sales Outstanding (DSO) by 5 days in the first year of implementation. DSO is a calculation used by companies to gauge their Accounts Receivable (A/R) performance.
“We send out 7,000-8,000 client invoices a month,” said Dawn Dostie, TRC’s National Billing Manager. “We initially purchased EleVia Electronic Invoicing so our Billing department could quickly see the status of all those draft invoices in the review cycle. But we found the software also gave us the ability to better manage our unbilled Receivables. As a result, we reduced DSO by 5 days in the first year of implementing EleVia Electronic Invoicing,” Dostie explained.
“Because of the time savings with the automated process, we also increased productivity in our Billing Department by 20%, and were able to reduce staff by 16%,” Dostie said.
EleVia Electronic Invoicing is an add-on product for the Deltek Vision ERP system that notifies invoice approvers via email when they have draft invoices to review, and provides a link directly to the invoices, which approvers can mark-up electronically. The system tracks the status of all invoices and provides a dashboard of key financials by project.
“I’ve been introduced to a lot of financial software, and I’ve never seen anything comparable to EleVia Electronic Invoicing,” Dostie said. “Certainly, the fact that it integrates seamlessly with our ERP system, Deltek Vision, makes it valuable. But it’s more than that. From a financial management perspective, EleVia Electronic Invoicing gives me the kind of reports I need to improve our cash flow.”
TRC plans to install the mobile version of EleVia Electronic invoicing when EleVia introduces it in summer 2017.
About EleVia Software
EleVia Software develops, delivers and supports software to extend the value of the Deltek Vision ERP system. EleVia Software’s products are designed to elevate and enhance key financial and operational processes for architecture, engineering and professional service firms. The products automate tasks, improve productivity, reduce operating costs, and provide valuable insight into project performance and profitability. Flagship products of the company include EleVia Electronic Invoicing, EleVia Payables Approval & Tracking, EleVia A/R Management & Collections, EleVia Field Services Suite and EleVia Advanced Search. For more information, visit EleVia Software.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, environmental consulting and construction management firm that provides integrated services to the power, environmental, infrastructure, and oil and gas markets. TRC serves a broad range of commercial, industrial and government clients, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. TRC trades on the NYSE under the symbol TRR. For more information, visit TRC’s website, follow us on Twitter or StockTwits at @TRC_Companies or find us on LinkedIn.