Managing invoices is labor-intensive and creates an opportunity for unwanted risk to be introduced, especially for loans in default. With increasing forbearance volumes, processing various invoice formats from multiple vendors can quickly bog down any organization — increasing expenses and default-related losses. Automating billing and standardizing this process can help servicers reduce turn times, minimize errors and mitigate risk.
Black Knight offers a solution that can help with just that. From invoice set-up and processing to post-payment activities, Black Knight’s InvoicingSM solution delivers end-to-end capabilities and rules-based technology. It enables servicers to work with their vendors, including attorney firms and REO brokers, on a single platform, as well as receive, process and reconcile invoices in a standardized format.
This unique solution also integrates with several Black Knight applications and offers servicer-specific configurations to help make the invoicing process more efficient. To learn more about how Invoicing can help deliver significant efficiency gains, email AskBlackKnight@BKFS.com.