Equator, a provider of default servicing solutions, has announced the launch of its EQ Invoice Module for the servicing industry. Using a rules-based approach, the system simplifies the invoicing process and expedites reimbursements. Servicers can easily configure different rules per portfolio and communicate with agents and vendors online to streamline the approval process.
Equator's Invoice Module has an intuitive workflow that instructs users on which actions to take and when to fulfill each task. Automated workflow decisions are based on client configurable factors such as duplication, frequency and dollar amounts of claims, enabling custom rule sets to be established for each portfolio. Pre-determined value thresholds and automated decisioning result in quicker reimbursements for invoices complying with these specific terms. Additionally, the solution rapidly identifies invoices that should be rejected and addressed on an individual basis.
"The Equator platform has allowed agents and vendors to submit expenses for years," said Chris Saitta, Equator chief executive officer. "Now, rather than pass expenses to other systems, they can easily be reviewed and approved right in Equator. This streamlines approvals and makes the expense data readily available for strategy decisions."
The EQ Invoice Module is available for all existing Equator clients as well as companies that have yet to leverage Equator's solutions. Users benefit from a full investor-based rules engine and a complete end-to-end paper trail providing them with unprecedented audit control. They can also set auto-approval thresholds for the system to immediately approve invoices that fall within the specified parameters, saving time and money. Agents and vendors can easily submit and track invoices, ultimately resulting in faster approvals and payments.
For more information, visit www.equator.com.