Advantage Fee™ from Fiserv is a comprehensive customer billing and revenue management solution, which helps financial services organizations worldwide to support flexible, highly complex and fast-changing fee structures with efficient, controlled invoicing.
For the financial services industry, the growing complexity of investment management products and customer relationships has led to major changes in billing requirements. With revenue and relationships at stake, the need to streamline and automate billing processes and develop comprehensive revenue management controls has never been greater.
Full and prompt payment for services clearly relies on accurate, timely invoicing. Yet many organizations continue to control their billing and revenue management operations using spreadsheets and manual processes: systems that struggle to meet changing business needs.
In other words, the introduction of more complex products and fee structures is completely at odds with traditional billing procedures. The globalization of the industry and a sharp rise in transaction volumes are further compounding the pressure on operations.
So a single, flexible fee billing platform is now a fundamental requirement for financial services firms. In fact, it is the only efficient way to manage the new generation of fee and account structures and prevent revenue leakage.
In the simplest terms, revenue management issues are caused by under-billing, over-billing or not billing at all. The challenge is to implement a solution that minimizes all three possibilities.
Advantage Fee delivers return on investment, positive cash flow and improved revenue management for financial services organizations. Ensuring both regulatory compliance and high levels of control, it is well placed to meet the needs of an increasingly complex global industry and its growing base of clients.
Advantage Fee enables you to:
- Reduce revenue leakage: Advantage Fee is designed to help improve revenue management and cash flow, delivering results that go straight to the bottom line
- Improve operational efficiency: By streamlining and automating your billing processes, the solution will help to ensure shorter billing cycles and faster fee collection
- Increase transparency of client billing: Accurately calculated fees are presented clearly and concisely by automatically generated invoices
- Deliver greater control: Manual processes are replaced by an integrated solution meeting audit and best-practice requirements and complying with industry regulations, including: Sarbanes-Oxley, Basel II, the Markets in Financial Instruments Directive (MiFID) and Gramm-Leach-Bliley
- Analyze and forecast revenue: Built-in business intelligence provides powerful, historical analysis capabilities and allows complex forecasting and modeling to help predict future revenues
For more information on Advantage Fee and other Wealth Management Solutions from Fiserv, call us at 800-437-2997 in North America, +44 (0) 845.013.1200 in Europe, and +65 6533.9288 in Asia and Australasia or Contact Us.