GT Motive for Insurers

The Benefits Of Electronic Invoicing

Businessman using laptop in a factory

At GT Motive, our modern claims ecosystem drives connectivity between all relevant stakeholders, as well as with our network of technology partners. Technology innovation is at our core, and we’re proud to say that electronic invoicing is something we’ve invested heavily into to better the overall claims experience. 

Electronic invoicing is more accurate 

Using cloud-based technologies for electronic invoicing means that the platform will always be up to date, progress and changes can be shared platform wide without and all stakeholders will have the timeliest information to hand as the data is updated instantly.

Electronic invoicing ensures swift payments

Eliminating the delays that come from posting, routing, sorting and re-keying paper documents, electronic invoicing allows teams to send invoices electronically, directly into stakeholder workflow systems for faster processing and approval. It also helps to reduce the number of rejected invoices too, as there’s less need to re-key the data.

Electronic invoicing can help to reduce costs

From cutting down delivery costs, to reducing reprint requests and customer service calls, switching to electronic invoicing can be a massive cost saver.

The prices associated with printing and materials alone, can be completely removed by utilising the online platform instead. A quick win for cost-cutting during the mass inflation.

Electronic invoicing is much safer

With safer storage and easier access to critical data, electronic invoicing is fully GDPR compliant and comes with enhanced security.

It’s much more secure than having paper invoices or openly accessed files, as platforms such as GT Motive cannot be intercepted.

Electronic invoicing increases productivity

With electronic invoices, businesses will know when that they have received and if they haven’t. This will reduce the need for follow ups, as well as cut down on the amount of rework required and dispute phone calls.

Electronic invoicing enhances account reconciliation

In the automotive industry, suppliers are often challenged to reconcile the payments they receive against the original invoices that have been submitted. This leaves stakeholders consolidating a number of invoices to allow for a single bank transfer, and suppliers usually then need to call an Accounts Payable department anyway in order to understand the details behind funds received.

However, with electronic invoicing, teams can send remittance advice digitally with the payment, providing detailed accounting of invoices paid as well as debits, credits and any adjustments taken. This can also be a big help in claim deductions against an invoice due to shipment problems, such as delayed, damaged or missing parts.

Integrating processes and improving efficiencies

With GT Motive, ourelectronic invoicing covers total loss cases and repaired vehicles, and with access to over 600M part prices and 175 different sources including OEMs, we’re able to add new vehicles and models to our estimatics platform twice a month, guaranteeing comprehensive information and continued vehicle accuracy.

But we don’t just stop there.

We’ve made electronic invoicing even easier by collaborating with Autoflow.

For customers, this means that our estimating platform and Autoflows’ body shop management system can be fully integrated, offering the benefit of automatic price updates that can be shared across both systems instantly, eliminating the need for any manual intervention.

As a result, the two systems work in harmony to provide a more efficient process that can save repairers the monotonous task of rekeying into two different systems following changes in part prices. Instead, GT Global and Autoflow will integrate to seamlessly share these price updates across both the estimating system and the body shop management system creating less room for error and more efficiency.

With this, electronic invoicing becomes an automated, accurate process that takes half the time.   

Find out more today.