Elevator Modernization Billing
How Leading Elevator Contractors Automate Multi-Phase Modernization Billing and Capture $2M+ Annual Revenue Faster
Step-by-Step Workflow
Elevator Modernization Billing
Contract Terms Digitization & Milestone Setup
System automatically imports signed modernization contract details including payment schedule, milestone percentages, retention terms, and material allowances. Creates billing milestones linked to project phases (demo, rough-in, equipment installation, testing, final) with pre-configured invoice triggers based on completion criteria.
Real-Time Cost & Labor Tracking Integration
Connects with field management system to automatically capture labor hours, material requisitions, equipment deliveries, and subcontractor charges. Consolidates costs by project phase and compares against budgeted amounts, flagging variances that require change order consideration before billing.
Automated Milestone Invoice Generation
When project managers mark phases complete in FSM system, automation instantly generates invoices with itemized breakdowns of labor, materials, equipment, and applicable taxes. Applies stored materials billing rules, retention percentages, and previous payment credits automatically. Routes draft invoices for review based on project value thresholds.
Change Order Billing & Contract Adjustment
Approved change orders automatically update contract values and billing schedules. System recalculates remaining milestone percentages, adjusts retention amounts, and generates supplemental invoices for completed work. Maintains complete audit trail of all contract modifications and associated billing impacts.
Multi-Channel Invoice Delivery & Portal Access
Delivers invoices through customer's preferred channel (email, customer portal, EDI integration). Provides secure online portal where property managers can view project progress, review detailed cost breakdowns, access stored materials documentation, and approve invoices—reducing approval delays by 60%.
Intelligent Payment Processing & Application
Accepts payments via ACH, credit card, or wire transfer with automatic matching to open invoices. Applies payments according to contract terms, releases retention when applicable, and updates project financial status across all systems. Flags short payments and automatically initiates follow-up workflows.
Automated Collections & Retention Release Management
Triggers payment reminders at pre-set intervals (7, 15, 30 days past due) with escalating messaging. Monitors retention release dates based on contract terms and warranty periods. Automatically generates final retention invoices and coordinates with project closeout documentation for seamless payment completion.
About This Blueprint
Elevator modernization projects involve multiple phases, complex material tracking, change orders, and milestone-based billing that traditionally require extensive manual coordination between project managers, accounting teams, and customers. This automation blueprint transforms how elevator service contractors handle modernization billing—from initial deposit invoicing through final completion payments—by automatically generating accurate invoices based on project milestones, tracking material costs in real-time, managing change order billing, and synchronizing payment status across all systems. By implementing this intelligent billing automation, elevator contractors eliminate the 8-12 hours typically spent per project on manual invoice preparation, reduce billing disputes by 67%, and accelerate payment collection by an average of 18 days. The system automatically applies contract terms, calculates retention percentages, tracks stored materials billing, and triggers payment reminders—ensuring your modernization projects maintain healthy cash flow while your team focuses on project execution rather than billing administration.
Key Metrics
Expected Outcomes
Eliminate Billing Bottlenecks
Automated milestone billing eliminates the manual spreadsheet work, data entry, and cross-system reconciliation that typically delays modernization invoicing by 5-8 days per billing cycle.
Capture Every Billable Dollar
Real-time cost tracking and automated invoice generation ensure all labor hours, materials, equipment charges, and approved change orders are captured and billed—eliminating revenue leakage from forgotten charges.
Accelerate Cash Flow
Instant invoice delivery, online payment portals, and automated reminders reduce days sales outstanding from 51 to 32 days—improving working capital for larger projects and enabling faster business growth.
Reduce Billing Disputes
Detailed invoice breakdowns, progress photo integration, and transparent online portals give customers complete visibility into billing—dramatically reducing questions and disputes that delay payment.
Streamline Change Order Billing
Approved change orders trigger instant contract updates and supplemental invoices—eliminating the weeks-long delay between change order completion and billing that erodes project profitability.
Simplify Retention Management
Automated monitoring of retention release dates based on contract terms and warranty periods ensures you never miss collecting retained amounts—recovering an average of $47K per year in previously overlooked retention.
Frequently Asked Questions About This Blueprint
The automation tracks equipment deliveries against purchase orders and project timelines, automatically generating stored materials invoices per contract terms (typically 90-95% of equipment value). The system maintains digital documentation of delivery receipts, warehouse storage confirmation, and insurance certificates—providing the backup customers need while accelerating cash flow for major equipment purchases. When equipment is installed, the system automatically adjusts final billing to account for previously invoiced amounts.
Implement Elevator Modernization Billing in Your Organization
Stop struggling with inefficient workflows. Fieldproxy makes it easy to implement proven blueprints from top Elevator Service companies. Our platform comes pre-configured with this workflow - just customize it to match your specific needs with our AI builder.
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