Geac Launches Billing Solution

Aims to streamline billing process, offers new invoicing functionality

Atlanta  January 10, 2003  Geac Computer Corporation this week released its new billing solution for client/server computer platforms, aiming to streamline the billing process and offer new invoicing functionality.

Geac says that its new SmartStream Billing solution will allow users to better leverage their enterprise policies and manage a range of customer billing functions, including the generation and printing of invoices for goods and services as well as adjustments to billable balances.

The new solution also provides billing capabilities for organizations, such as those in the healthcare, government and service arenas, that do not require close integration with inventory management or production planning, the provider said.

Key features in the new solution, according to Geac, include the ability to set up sales items and price lists; create billing documents, recurring invoices and payment schedules; establish customer and organizational level defaults; define and create rules and follow through for revenue accounting; and use sales items and allow them to be grouped into user-defined alphanumeric categories.

SmartStream Billing also recognizes revenues for each billing, reflecting the nature of the particular transaction that meets an enterprise's business requirements. This revenue recognition feature can be applied to all revenue types. In addition, the solution lets users generate customized reports with user-defined parameters, dates or ranges of dates as needed.

According to Brian Chambers, IT project manager for financial systems at Geac customer North Western Health Board, SmartStream Billing's functionality "will enable our organization to issue and track billing invoices for a variety of services provided by the board, as well as receipt deposits and miscellaneous income, and generate the accounting transactions we need to ledger for our revenue income and balance sheet cash and control accounts."