Finance Management / Invoice Validation and Reconciliation
The Ostara CAFM system is as much about the finance management of maintenance as it is the operational control of maintenance. Quality, levels of service, the contractor base and sustainability will always have to be balanced against cost – the functionality within the system provides the visibility and data on which to base these decisions.The Finance module:
- Allows for validation of Contractor invoices against expected costs calculated using Contractor rates and start and stop times. This can lead to significant savings by ensuring that you are “only paying for what you get”.
- Allows cost to be analysed in various levels of detail such as by building or asset type.
- Produces accurate accruals using average order values or actual calculated costs.
- Monitors and manages the contractor invoice approval process. It shows details of unapproved invoices with unapproved reason codes such as incorrect times, lack of proof (timesheets) etc. Reports on this can be produced by contractor to aid a quick resolution to invoicing problems.
- Allows reporting on actual vs budget spend for Capital and Revenue as well as by reactive, planned or quoted works.
- Saves processing time by allowing bulk uploads of invoices
- Produces output to allow upload of approved invoices for payment and even accruals for full visibility in your accounting system.