miBilling provides a comprehensive platform for configuring billing and posting logic including setting up complex billing and statement rules for straight through processing with no manual intervention.
The Billing Engine provides the following key functionalities:
Define account settings
Billing cycles (monthly, weekly etc.)
Billing hierarchies across Relationship Groups
No. of retries
Period between billing and collection
Sequence of accounts to be tried for recovery – redirection of accounts
Ability to configure billing & posting logic based on multiple configurable parameters; eliminating the need for manual intervention.
Ability to automate and separate Billing and Collection entities based on configurable rules.
Consolidated Billing and Invoicing
Consolidated Single Statement across the entire relationship at both Relationship Group and individual Customer level
No manual intervention and all charges computed based on configured pricing rules within the product, package or relationship group
Invoice Creation and Presentment with varied options as per the requirements
Net Fees to Interest paid
Lump sum charges vs. Split Groupings (Transactional/ Product)
Multiple options of debundling / invoice to different entities within the Relationship Group
Invoices/Debit Advices in multiple formats
SWIFT MT 199