An error-prone and costly client fee billing process can have a negative impact on an investment manager’s bottom line – especially if inaccuracies and delays result in fines, reputation damage and/or lost revenue.
Electra Billing helps chief financial officers (CFOs) improve the speed and accuracy of invoices, cash flows and client servicing, whether your firm has institutional accounts, retail accounts, or a combination of both. It eliminates manual touchpoints with custodians, and uses efficient approval and audit workflows to improve the client experience while reducing operational, compliance and reputational risk and cost.
Fast and Accurate Fee Calculations, Invoicing and Cash Flow
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.
Efficient, Compliance-Ready Workflows
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.
User-Defined, Standardized Invoices
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.
Policy-Aligned, Online Documentation
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.
Integrated Data and Reconciliation
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.
- Complex fee schedules, performance fees and billing
- Approval and audit workflows for various billing cycle steps
- Online documentation aligned with policies and procedures
- Effective-date processing, complete with historical fee data
- Custodian-audited market values
- Automatic payment withdrawal direct from custodians
- Full control of the data used, down to the fee
- Fee estimates or projected fees for forecasting
- Integration with portfolio accounting systems, accounts receivable, data aggregators, and custodians
- On-demand customizable invoicing, client communications and reporting
- Support for special payment instruction requests
- Highly granular user security supporting Sarbanes- Oxley Act (SOX) and internal audits
- Multi-currency fee calculations, invoicing and payments
- Supports SOC 1 Type 2 internal controls for financial reporting