Integrates “four eyes” billing review workflows and provides audit trails across market value, fee and invoice approvals throughout vital steps in the billing lifecycle
Electra Billing streamlines your operations with fast, automated fee calculations, billing automation, invoicing analysis, accounting and reporting. Managing hundreds of thousands of accounts for buy-side investment firms around the world, Electra Billing provides an intuitive, integrated and workflow-based client fee billing process and supports multi-currency post-trade operations in any region or country.
Electra Billing increases the accuracy and efficiency of approval workflows throughout vital steps in the fee billing lifecycle – from market values, fee calculations and schedules, to invoice formatting, distribution and centralized audit reporting. It automates and integrates “four eyes” billing review workflows, and provides audit trails across market value, fee and invoice approvals. Electra Billing also helps provide a clear path for Service Organization Control (SOC) 1 Type 2 certification to prove strong operational control.
To meet specific client invoicing requests and save time, Electra Billing offers firms the flexibility to define default data inputs and formatting options for specific client invoices while allowing for further customization on-demand. It provides controls for instruction labels, custom footers, additional formatting options, as well as invoicing audit and fee accounting information.
Electra Billing provides a “living” online documentation section that is aligned with a firm’s client fee billing policies and procedures. This is especially valuable to firms on quarterly billing cycles, to help occasional or new users obtain quick answers to process questions as they arise.
When used with the Electra Data aggregation service, data is collected on accounts, as-of dates and audited market values – plus asset classes, if required – from your custodians or your internal accounting system, for use within Electra Billing, which can receive information from our award-winning Electra Reconciliation solution to improve invoice accuracy and speed to revenue.