Implementing Central Billing
About Central Billing
Central Billing is the process through which all payments to a supplier are aggregated by the buying group and are paid to that supplier from a secure, central bank account. There are many financial, administrative and security benefits of processing payments using this method. A Central Billing model will effectively track all sales and purchases made through the buying group by pushing the invoicing and payment flow through a singular utility. Having all invoices flow through the buying group allow the group to collect important purchasing data more readily. This data then becomes a crucial metric for growth and for tracking rebates. These metrics and data collection benefits are often missed out on when operating on a Direct Billing model.
How We Can Help Your Group
At Buying Group Services, we help existing buying groups make the transition from a Direct Bill to a Central Bill model. We not only understand the sensitivity of this transition, but we find the best approach for your group and determine the optimal method for making this switch.
Even established buying groups that have been operating on a Direct Bill model since inception can still transition effectively to a Central Bill model to reap the benefits.
Since not all industry supply chains make operating on a Central Bill model efficient, we also conduct a complete analysis of your industry’s supply chain before starting the transition process.
BGS is happy to help your group implement Central Billing on a full-scale basis through a longer-term managed services partnership, or a shorter-term ‘best practices’ approach where we provide coaching to your group’s management team. It’s up to you.
Here's what we can offer your group:
Strategies to get your members to buy into your Central Billing program
Best practices to utilize the data collected from the Central Bill program (converting the data at your fingertips into rebate-growth strategies)
Strategies to manage Central Billing allowances
Turn-key Central Billing Management
Design, Set-up & Implementation of a Central Billing system that’s right for your group
Ongoing management and support services to ensure smooth operation
Additional Benefits of Central Billing
Data sharing from the Central Bill program furthers your group to become an informational-based Buying Group with best practices
Earn more revenue for your group
Collect rebates faster and pay those rebates faster to your members
Predictable and timely cash flows
Hit more rebate plateaus by knowing what your members buy in "real-time"