Create Your Self Billing Agreement Template for Product Management Seamlessly

Self billing agreement template for Product Management

Hi, my name is Maria Hult. I work as a product marketing manager at Rillion. Today I'm going to do a demo of our contract module in Rillion Prime. The contract module can store contracts that you can have available and searchable via reports and also from an invoice. So if you have an invoice in the application, you could review the contract before actually approving your invoice. Here I have two contracts that is in my inbox to be handled. Let's open up the first one. So this is to view where you're handling your contracts that you have to work with. I have the contract document. A contract within Rillion Contract could have actually more than one line, so I might have both the contract. And the price list. And that would be separate lines. The contract can be sent out in a workflow. Who needs to approve this contract? And you can also place comments on a contract, internal comments to inform the organization about this contract. And then we have the contract index fields, the information that we would like to have searchable in the application and visible for anyone reviewing the contract. Like what type of contract is this? What company it belongs to? The dates for the contracts, the validity valid from to like terms of notice if there is some kind of automatic extension. if I don't cancel or renew the contract in time. And those values are possible to search on in the archive via reports. We can also activate and send out reminders based on the contract. So I would like to get the reminder sent out at a specific date with a comment to the one that is responsible for this specific contract so we don't forget to renegotiate or renew or what we need to do with it. So those are the basics for the contract module to have them all stored and visible for those that have permission to review them. But what you also can do is to automate the invoice process. So if I know that I will receive invoices from Canon like every quarter or something, then I could set up the contract and say yes, from Canon we will get invoices every 90 day. We could accept like 3 days plus, minus. We know that invoice should be for 1:50 because that is what the agreement says. And we could accept €1.00 more or less as a variance. But if an invoice comes in and it's within those, time period and the amounts. Then why should we actually look Then why should we actually look at the invoice? We have already an agreement that is signed. Let's send those invoices direct to recording into the ERP system and just pay the invoice. There is actually no need to look at it. It's ing to the contract and the contract is approved. And only if there is variance then we need to send it out. What we also do is to connect an account posting proposal to the contract and then we take that, and put it on the invoices that is matched to this contract. And then we can achieve touchless invoice processing based on the contract. We could actually take it one step further and also activate self billing. And that will mean that the supplier doesn't have to send me an invoice. We have an agreement what we should pay and lets us create invoices automatically based on the contract. And then of course, because the system is creating based on contract, it will be fully matched and we could just pay the invoice. But let's look at this with the invoice matching so we also have seen that. All invoices that comes in to Rillion Prime will end up in the invoice log. And now I will search for those that have been matched to contract. So here is an invoice from very clean BV. This invoice could identify a contract and due to that it was matched and the invoice could then go directly to recording so we don't have to handle it. If I open this invoice and look at the details on the invoice. We have a contract number. So we have identified a contract or the supplier. And in this case it was fully matched, so it goes directly to recording. But let's say we changed the amount. And put 500 here instead. It could still find the contract, but now it's outside the tolerances that we have set up. So then it's a variance and then the invoice needs to be sent out to a workflow to review and approve that variance. The invoice has also received the account coding from the contract, so it's already coded. We will have a last look at the possibility to search on contracts. So, in the report chapter, there is a report called show contract. Here you can search on all the values that is on that contract. You can search in intervals and in combination of all those fields. And you can only get up the result of the contracts that you have permission to see. But I can come in here and then I can click in on a specific contract, To review the details. And just walk between contracts. So that was a short introduction to Rillion Prime Contract. Thank you for listening and if you would like to look at more videos from us, you will find them on our Youtube channel.