Case Study: United Technologies achieves faster, more accurate international invoicing and payments with Ventiv Technology

United Technologies - Customer Case Study

United Technologies (UTC), a global industrial company with 2011 net sales of $58 billion and operations in about 180 countries, needed to eliminate manual, error-prone invoicing and payment processes for its international program allocations. To improve service to local entities and enable real-time visibility into invoices, UTC worked with Ventiv Technology to deploy a premium-tracking tool in RiskConsole (rolled out January 2012) to automate allocation, invoicing and payment workflows for its international casualty and global transit/marine programs.

Ventiv Technology’s RiskConsole solution centralized invoice records, attached related documents, provided single sign-on access to claims/invoicing/policy data, and delivered dashboards and push reporting for business unit and local teams. Nine months after rollout, UTC reported more accurate invoices moving to payment more quickly, real-time invoice status, streamlined local administration, better adherence to program terms, and the ability to track and analyze invoice disputes (“turnbacks”)—giving UTC clearer total cost-of-risk reporting and measurable process-improvement data.

United Technologies

Cindy Regan

Senior Manager for Planning and Accounting