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Invoice Management
Reduce the demands on your internal teams while harnessing the power of your financial data with our IP invoice management services
Automate Invoice Bundling on Our Invoice Management Platform
IP invoice reconciliation costs corporate IP departments and law firms valuable time and money. Remove the burden of invoice review on your IP team by choosing Questel’s market-leading invoice management platform. The automated service not only bundles invoices into one clear and transparent bill, but also tracks invoices against agreed costs and deliverables.
Invoice management designed by experts, driven by technology
Our team of industry veterans combine experience and expertise with machine learning to extract and consolidate your invoice data, identify efficiency improvement opportunities, and suggest and implement cost reductions to:
- Lessen the burden of invoice approval;
- Ensure that invoices meet your billing guidelines;
- Eliminate the need for accounting departments to track and pay dozens/hundreds of invoices each month; and
- Produce one consolidated invoice each month, listing all your providers’ charges.
Questel’s team of IP paralegals will review, approve, and pay all your IP service providers’ invoices, so your accounting department only has a single invoice to process each month.
How Our Invoice Management Platform Works
Our Invoice management service uses Questel’s Ascent ELM software to process, validate, and consolidate invoice data.
Your IP providers are provided with a portal to upload invoice data. This reduces the number of emails in your IP and accounting staff’s inboxes and eliminates the possibility of invoices being misplaced or lost.
The AI engine will automatically check uploaded invoices to ensure that all billing guidelines are followed. Providers are instantly made aware of any guideline violations or errors and provided an opportunity to make corrections to the invoices as required.
Invoices are logged through Questel’s accounting software, and payments are scheduled as per the pre-agreed terms.
All provider invoice charges are consolidated into a single invoice submitted to you by Questel for payment.
Finally, historical invoice data is stored and can be used to produce IP cost analytics and benchmarking.
