Administering contract relationships is time consuming, Illumiti has developed a FTS mini product to help companies that deal with high volumes of external contractors. The product reduces the effort expended administering contract relationships while improving control over the process. The FTS transaction allows for the external contractors’ time and materials to be entered, validated, reconciled, approved and posted using Service Entry Sheets (SES) against purchase orders, and optionally, against maintenance orders.
This product offers low complexity, when compared to other alternatives, and flexibility. It also reduces account and ticket processing errors through the use of a certificate of payment as the trigger for vendor invoicing.