Giving clients and contractors a superior service through automated finance processes.
More contractors are taking advantage of our speedy payment systems and receiving a better service thanks to our new automated processes.
We are integrating more and more elements of our operations and finance functions to upgrade our monthly accounting cycle – and with that both the expert and client experience. By using technological solutions to synchronise data between departments creates several sizeable benefits for both sides of the Hyphen. These include:
- More contractors being included in our ‘Day 3′ payment cycle at the end of a working month (i.e. contractors should be paid within three days of the start of a new month).
- Minimising payment errors and reducing rejected transactions and finance-related queries.
- Reducing the level of paperwork and administrative work for contractors and clients.
- Increased confidential data security and an improved audit trail.
- More individual support from our finance team for those contractors and clients with specific needs.
A key principle is using automation to minimise manual data entry and the possibility of human error. Information captured at different parts of the value chain is now being automatically exchanged between all systems – leading to enhanced services for our external partners.
Payment queries and data breaks are therefore a thing of the past, meaning more contractors will fit into our ‘Day 3′ payment cycle – one of Hyphen’s commitments towards contractors and external partners. This level of automation also reduces the admin burden on those experts and consultants, enabling them to dedicate more time to their engagement.
From a data security perspective, the use of automation to boost internal data sharing means there are fewer potential pain points. And as more tasks are automated, our finance department will be freed up and thus able to better meet the needs of individual contractors. Our A-team is also using this new-found time to build a one-of-a-kind contractor portal.
In short, the use of new technological linkages will have long-term benefits and lead to a better user experience. These latest advances are the product of months of hard work behind the scenes and are part of our ongoing commitment to optimising the engagement experience.
This comes on top of previously announced finance solutions designed to make life easier for those working with us. For example, most of our on-site contractors already receive a virtual debit card as standard to cover their day-to-day expenses while away from home.
Now, by automating aspects of our finance function that previously required manual input, we can monitor expenses in both the app and our accounting tool in real time. Clients benefit from up-to-the-minute project finance records, clear audit trails and simplified expense reporting, easing their admin and processing burden. Contractors can enjoy a smoother experience and reduced cash flow burden as they know they can rely on our finance solutions to give instant access to funds during business travel.