Our Process

Advantage IQ’s processes were developed over a period of eleven years, reducing the possibility of errors and ensuring the highest level of data integrity. We incorporate client input, and constantly monitor for any possible opportunity to improve and upgrade our processes.

Implementing the System

Once your contract is signed, our client service team works to get your system operational within 45-60 days. A master database is created from copies of current facility bills and information about each site. Several standard general ledger options are provided for formats commonly used. During this time, we also redirect bills for each of your facilities to our processing center. Throughout the system implementation, we remain in constant contact ensuring your satisfaction and a smooth transition.

Streamlined Bill Management

Incoming bills are scanned or received electronically, then input and audited for errors or inconsistencies with past bills with all savings returned to you.

Processing, Validation and Organization

As your bills arrive, non-summary bills are imaged and bill information is entered into the system for monitoring and error detection. Your account team scans each bill and then keys in the data from the images using data entry templates specifically built for each account to include specific line items on the bill.

As bills are entered, the system performs highly refined verification routines to ensure that the charges are appropriate for the site. A number of tests are performed to ensure data entry is correct. Charges outside of predetermined tolerances are listed on a billing exception report, which is reviewed by your account team. Depending upon the component and your service level, these exceptions are resolved by the client or the account team.

Consolidation

Bills to be included in a consolidation will be determined by the due date and anticipated mail delivery time, thus optimizing the timing of bill payment. Each consolidation is presented to the client via our Facility IQ Web site for review and approval.

Payment

Once the consolidated bill is presented to the client via the Facility IQ Web site, the client deposits the amount due into a bank account within one business day, typically through ACH. Advantage IQ then disburses the necessary payments to all of the vendors and accounts listed in the consolidation report.