Match recurring invoices automatically to contracts and receive reminders when contracts are to be terminated or renewed.
A recurring invoice is a type of invoicing where a vendor automatically charges a customer for their goods or services at regular intervals. Recurring invoices are most commonly associated with cell phone bills, utilities, cleaning services and maintenance charges, but are utilized for any situation where a company needs to order something at regular intervals.
A recurring invoice provides convenience where the supplier does not have to wait for the customer to pay, or repeatedly request payment information. Similarly, the customer won’t have to repeat the same process of ordering or sending manual payments every month, or however often they need the goods or services.
“The contract solution helps us to have control over periodic invoices through automatic matching to agreements. Palette’s solutions make it easier to manage these invoices from one and the same source, which has streamlined our workflow.”
Rene Faurskov • Finance Manager at Sportmaster
Automated contract management refers to different tools, software and technologies that streamlines the contract management process. This includes digitized and automated features for:
Contracts are the lifeblood of your business. Using manual, paper-based methods for their contract management, there’s a great risk that the contract processing will be confusing, inefficient and riddled with errors. It slows down the pace of doing business, increases risk, and can cause frustration among customers and your employees.
Contract automation software has changed many things regarding contract management, considerably improving business processes, reducing risk and increasing revenue. Palette’s contract automation software gives you a unified and reliable process for contract management that makes agreements and related business documents available for purchasers.
Recurring invoices
Recurring invoices can be matched to contracts or tracking numbers
Reminder & Activation
Reminders are sent when a contract is about to expire or has to be renewed
Archive
Complete archive of all types of contracts
Self-Billing
A supplier invoice is automatically created by Palette, reflecting the contract terms
Transparency
Make agreements visible to the whole organization
Agreements are stored in Palette’s electronic agreement database, which has a flexible authorization structure, increasing both visibility and transparency of your contract and invoice management:
Recurring Invoices is a module in our AP Automation and Purchase to Pay software suites.
Palette is trusted by banks and financial institutions in the US and Europe. Accreditations in the US include SOC1, SOC2, HIPAA, ISO 27001, GDPR, and PEPPOL.
Let us know what problem are you looking to solve.
Palette Software was founded in 1993 in Stockholm and has offices in the United States and the Nordics. Palette solutions are available through a growing network of partners in some 50 countries in North America, Europe, and Australia.