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Traditional Proforma Processing Without the Paper Chase
Free staff members from cumbersome and time consuming proforma distribution and mark-up procedures with Paperless Proforma. Paperless Proforma is an intuitive Web-based proforma routing and mark-up system that removes the pen and paper from the hands of timekeepers for a more efficient and faster work-to-cash cycle for professional services firms.
Paperless Proforma transforms the traditional method of routing and marking up proforma printouts into a paperless process that can be completed either in the office or from a remote location. Paperless Proforma mirrors accepted proforma mark-up conventions, eliminating the need for the accounting staff and timekeepers to learn a new system. Timekeepers just log on to a Web site to view active draft bills. They are then able to mark up draft bills online and either route them to other staff members or submit them to accounting. There is simply no need for manual distribution of documents.
Streamline the Review Process for Improved Cash Flow
- Timekeepers do not need to learn a new system - online proformas are visually similar to traditional paper printouts, and notations and mark-ups mirror accepted redline and annotation conventions.
- Timekeepers provide specific instructions for transfers, divides and write-ups/downs without needing to learn new software or terminology, while the complex business rules for these transactions are still handled by the accounting staff.
- Reduces (sometimes eliminates) paper used in the proforma process, as well as shipping and overnight delivery costs associated with routing proformas to mobile staffers and branch offices.
- Edits are returned to accounting immediately, expediting the process of turning proformas into final invoices.
- Accelerates the delivery of client invoices from weeks to few days and therefore improves cash flow.
- Timekeepers can automatically calculate the invoice balance based on their changes throughout the editing process to eliminate time-consuming manual calculations.
- Improved workflow with instant and specific email notifications allows users to add comments and instructions when routing proformas for efficient and immediate communication among timekeepers and accounting.
Key Productivity Features
- Scenario Calculations - Timekeepers are able to run different scenario calculations to achieve the correct balance in compliance with the firm’s billing policies.
- Advanced Filtering and Sorting Options - Timekeepers better manage their proformas by filtering and sorting with multiple layers of criteria. For example timekeepers can filter their proforma worklist by date and status, then sort by client and dollar amount to show their own customized view.
- Report Security and Control - By establishing security controls at levels throughout the firm, users have expanded access to at-a-glance reports to more efficiently monitor and manage the proforma process.
- Direct Proforma Deferment - Timekeepers are able to defer proformas directly to archive as needed, reducing the steps and people in the process and, therefore, reducing the work load in the accounting department.
- Integration with ProLaw, Elite Enterprise and Elite Billing Manager - The accounting staff is easily able to interpret and upload changes directly into the firm’s financial system.
- Short Implementation and Training Period - Firms are often up and running on Paperless Proforma in one week. Plus, it has the flexibility to roll out incrementally to ensure broad adoption by each department.
Expanded Reporting Functionality: Quick Access to High Demand Reports
Following are examples of the most popular proforma reports:
All Timekeeper Report - Monitor the number of proformas and total financial value by timekeeper in the firm.
Individual Timekeeper Report - Track timekeeper productivity and instantly know the status of proformas including how many are open, saved, routed, submitted and checked out.
Firmwide Report - View top-level statistics on all the open, submitted and archived proformas throughout the entire firm.
History Report - Drill down into the details of specific proformas to immediately know where it is in the process and who currently owns it.
For the Traveling Professional: Work on Proformas Offline
Timekeepers who travel can participate in the proforma process while on the road, without needing to take vast amounts of confidential, printed documents. Proformas requiring mark-ups and annotations can be downloaded from the network and edited offline. For example, timekeepers can easily access Paperless Proforma, download their draft bills to their laptop computer, disconnect from the network and work on them while traveling or at home. Proformas that are edited offline can be easily uploaded and synchronized later for additional routing or processing by accounting and operations staff.
Consult the Experts
Thomson Elite has a dedicated team of business process management consulting experts that focuses on helping professional services firms better understand their business processes, identify efficiency gains, recognize strategic opportunities and implement business process automation solutions that match their unique vision and business objectives.
Your Partner for Financial Management Solutions
Thomson Elite is a leading provider of integrated information solutions to professional services firms worldwide. Thomson Elite is a business within The Thomson Corporation and is a premier provider of financial and practice management systems to the legal industry and to other professional services markets.
For more information on Thomson Elite, please complete our sales request form or call +44 (0) 20 7369 7379.
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