How DLF, Ambience, Ireo, Jaypee improves Billing Process with Factech iBill
- 1 Pains in CAM, Electricity, Rental Billing
- 2 How iBill – Recurring Billing Solution Helped
Pains in CAM, Electricity, Rental Billing
Before simplifying and automating billing through Factech iBill, The key problems in customer billing for real estate players have been:
- Less and Late Recoveries: Inaccurate, manual, and late billing leads to grey areas in billing and hence
- Managing Change: Change is regular. It might be due to tariff rates, government policies, teams, or pandemics like COVID-19. With a semi-manual system, it is very cumbersome to handle change
- Scale: With increasing costs, it’s mandated to get more work done with the same team. The system must be scalable to benefit from economies of scale.
- Working in isolation: Mostly system works in isolation, and they have no communication with existing ERPs like SAP, Oracle, or Tally ERP. This leads to errors and late updates in the overall System.
- No Insights, Real-Time Reports: Without an online System, Stake holders has no idea what is happening, and what actions to take to bring the best out of the effort.
How iBill – Recurring Billing Solution Helped
As of today, DLF is using Factech Billing Solution in more than 14 sites including commercial and luxurious projects. The Cloud-Based solution helped DLF and other clients by providing:
- Self-configurable unit level bill plans and tariffs
- Integrations with various tax and regulation portals and finance ERP’s
- Automatic reminders/alerts/notification
- Auto delayed payment charge calculation and collection
- Daily site-wise reports like collection vs invoicing, defaulters, GST, etc.
- The ability of the system to easily apply complex lease terms like (revenue share, Minimum guarantee, RS+MG, and more)
- Single click billing of Lease, Utility (Electricity/water/gas)
How Park Centra increased their collection by more than 30 Lacs
How Ireo is saving more than a lac every month
Ireo has below benefits from iBill:
- Save more than 200 hours monthly by automating posting to tally with iBill system
- Ireo is using more than 4 bill plans and all bills get generated in a single click without any error. It’s saving more than 300 hours monthly if their team need to generate them without a system
- With auto payment transactions through multiple online payment gateways, more than 100 hours are saved every month.
How Jaypee Scaled its Billing Process
Key Benefits of using Factech Billing Solution
- Scale their operations while saving costs.
- Win more business with Brand boost using advanced tools to automate their functions.
- Delight their customers while showcasing Cost Saving and Improved Effectiveness
- Offload their employees with insights and reports flowing automatically.
- Give power, experience, and tools to the young team so that they work as experts with the latest protocols in real-time across all sites.
- Enhanced Convenience to Residents with Mobile App –Ledger, Online Payment, Bills.
- Get Insights and Prescriptions while working that is Improve Process with tracking of Process KPI. Centralized and site-wise dashboards will help in taking better decisions.
- Ready for Future with Advance Billing Management System.