Unlocking Financial Control: A Dive into Virtual Helpdesk’s Finance Module
In the world of facility management, Virtual Helpdesk’s finance module is rewriting the rules of invoicing, bidding farewell to the traditional 1/12th monthly approach. Let’s delve into how this innovative system provides users with unparalleled control over costs while ensuring accuracy in contractor invoicing.
The Two Sides of Finance Management
The finance module is intelligently divided into two sections: one for Planned Preventive Maintenance (PPM) and the other for Reactive tasks.
PPM Finance: A Systematic Approach
Each PPM is assigned a visit cost, and contractors can seamlessly upload attendance sheets to mark a visit as “ready to invoice.” Clients gain visibility into accruals per contractor, showcasing completed work awaiting invoicing. When ready, contractors can submit an invoice that correlates directly with all completed jobs. Client approval, including the addition of a PO number, completes the process.
Reactive Finance: Tailored Cost Control
Invoicing for reactive jobs mirrors the PPM process. However, the difference lies in job cost determination. Jobs falling below a client threshold, say £300, can be accepted by the contractor, who then adds the actual cost upon completion (e.g., £250). For larger costs, an estimate is issued, giving clients the flexibility to accept, reject, or assign the job for another estimate.
Automatic system emails keep clients and contractors informed at each stage, fostering transparency and ensuring everyone stays in the loop.
Simplified Management, Substantial Savings
These streamlined processes empower clients to effortlessly manage contractors, jobs, and control costs through an intuitive user interface. This industry-leading approach has already demonstrated remarkable results, with a client achieving a £2 million annual saving from an £8 million budget—a testament to the transformative power of Virtual Helpdesk in cutting down annual facility management expenditures.
