Does this scenario sound familiar?
Ken is an AP Manager working with his Contract Manager colleague, Elizabeth, on a commercial agreement for a chocolate vendor. This will be a monthly payment plan that would benefit from creating a payment schedule. However, Ken is unable to view both the contract document and create a payment schedule on the same screen, causing inaccuracies that do not meet the contract's terms.
Current state before the hack:
Medius APA users who need to create and manage recurring payment plans, such as rent and bills, have no visibility of commercial agreements in one place. Lack of insight into contractual terms when creating regular payment plans.
Solution
Enhance visibility of contract terms against recurring invoicing plans with Medius' inbuilt integration between APA and Contract Management. Once a contract enters Medius Recurring, users will have complete visibility of the invoicing and contract data in one place.
AP users can access invoicing information without having to leave their primary APA module. Medius Contracts will remain the place where contract information, milestones, and documentation are managed. When sending a record to Medius Recurring, Contract Managers can select a primary agreement to be shown within the image viewer. AP users can then view the document in Medius Recurring when creating an invoicing plan.
Benefits
- Streamline operations
- Visibility of contracts and recurring payment plans in one place
- Validate a payment schedule against commercial terms for Medius APA users
- Ensure that payment plans are created in line with contractual terms
- Automatic processing of invoices received for a contract with an invoicing plan
Set up
- This functionality is only available to clients using both Medius AP Automation and Medius Contracts (you must have the Cairo release)
- Once your system has been upgraded to the Cairo release, please contact your Account Manager to discuss the process of integrating these modules
- Time estimate: A couple of hours. If you get stuck, reach out to your account manager.