Servicers must streamline and simplify operations to survive the housing market’s new reality. Reducing costs is critical. Servicers can simplify complex processes and gain significant cost savings by automating the invoice process.

Paper-driven invoicing environments are cumbersome, slow and prone to error – not to mention environmentally unfriendly. LPS Desktop^® Invoice Management injects tremendous efficiency into the invoicing process and supports an effective, accurate and paperless system.

STANDARDIZE INVOICE SETUP AND CREATION

LPS Desktop^® Invoice Management is a Web-based system through which all vendor invoices are created and submitted. Once an invoice is created, the supporting documentation is stored in the system for immediate or future reference. Invoices are in a standardized to facilitate easy review and approval.

USE AUTOMATION TO RECEIVE AND APPROVE INVOICES

With LPS Desktop^® Invoice Management, invoice review and approval can be customized by client-specific business rules. In addition, the system provides invoice level tracking of line items billed to ensure compliance with agency, investor and servicer guidelines. Invoices that adhere to business rules and guidelines are automatically approved for payment. Invoices with exceptions are identified and routed to queue for review, adjustment or can be auto-denied.

PROCESS PAYMENTS ELECTRONICALLY

The Electronic Payment Option expedites the check payment stage of the invoicing process by interfacing with servicing systems, such as LPS MSP, to process third-party provider payments. It delivers significant savings to servicers by eliminating printing, materials and postage-related expenses.

ENHANCE COMPLIANCE AND SAVE TIME

With client-customized workflow, third-party invoices are tracked from submission to payment in one Web-based application, and can immediately be viewed during the process. Vendors can reconcile invoices and track their progress at any time. Because invoices are viewable online, lenders and servicers experience fewer inquiries regarding adjustments and payment status.

PUSH THE PAPER OUT THE WINDOW

Click Here to find out how LPS Desktop^® Invoice Management can streamline your accounts payable system.