EngagePoint™ Financials 2.x

What’s New in 2.x

EngagePoint leverages the best development technologies and innovative, scalable, standard-based approach to deliver easy-to-use, affordable and ingenious software.

EngagePoint Financials 2.x is your advanced billing, accounting and payment processing system and now with increased performance!

Bill Generation - 6 Times Faster Compared to version 1.3

Financials Version

Client Thread Count

Processed Count Time Taken Throughput

(users/hour) FileNet Clustered

1.3-M3-hotfix4 8 10,000 3h 4min 3260 Yes Yes

2.2 - M3 8 60,000 3h 12min 18720 Yes Yes

Enrollment - 6 Times Faster Compared to version 1.3

Financials Version

Client Thread Count

Processed Count

Time Taken Throughput (bills/hour) FileNet Clustered

1.3-M3-hotfix4 5 10,000 4 h 2500 Yes Yes

2.2 - M3 32 60,000 4 h 14580 Yes Yes

EngagePoint.com

Advanced Flexibility with Financial EnginesBilling Engine

The upgraded Billing Engine makes the system highly configurable and adaptive to your needs and covers all functionality related to the billing and payment processing. The Billing Engine supports manual and automatic billing carried out periodically in line with different billing cycles:

Key benefits:

• Manual adjustments to existing bills on the Account or Coverage level• Consolidation of multiple component bills for different Programs in one bill• Ability to lock/unlock bills for update• Ability to apply payment to multiple unpaid bills simultaneously• Ability to cancel user subscription, coverage, or selected bills

And many other valuable features.

Disbursement Engine

The engine supports configurable disbursement schedules and ensures disbursement of payments for bills. It ensures accurate reporting of disbursement transactions to the Accounting Engine.

Accounting Engine

A greatly enhanced accounting system allows flexible configuration of subledger accounts and accounting rules. Now you can analyze your financial data and generate reports.

Key benefits:

• Configurable rules of billing, payment, and disbursement transactions in subledger accounts and their mapping to General Ledger account number.

• Configurable chart of accounts of the following default types: Assets, Liabilities, Revenues, Suspense, External and Informational.

• Default set of accounts includes Account Receivable, Account Payable, Cash, Deferred Liability, Suspense, APTC Owed, APTC Expected, Pending Payments, Payments to Process.

• Generation of a file with accounting transactions for a period of time.

Ten Market-Leading Features with EngagePoint Financials 2.xTwo Types of Billing: Balance Forward and Open Item

The Balance Forward bill includes all charges that a customer owes, including those from previous billing periods. The unpaid amount is charged in the next generated bill, and the previous unpaid bill becomes historical.

Open Item bill includes only charges from the billable items in the current billing period. The next generated bill does not include charges from the previous bill. Eventually, there can be multiple unpaid bills simultaneously.

02.15.Financials_whats new

7 Things to Make You WOW!• Performance:

accelerated bill generation; accelerated enrollment

• Control: ability to analyze your financial data and generate reports

• Efficiency: advanced search capabilities based on the Apache Solr technology

• Flexibility: system configuration settings

• Usability: improved and consistent user interface

• Easy regular upgrades: new functionality with every product release semi-monthly.

• Reliability: professional technical support

EngagePoint.com

What’s New in EngagePoint Financials 2.x

Manual Bill Generation

You can create an Open Item or Balance Forward bill in the EngagePoint Financials Administrator’s Portal manually. The system generates a bill according to rules configured for an appropriate Program and for the coverage that has no active bills yet.

Cancel Subscription

You can cancel an entire user subscription, including all their Product Contracts and generated bills, using the Subscription Management Service.

Update Product Contract

When you make changes to a Product Contract, the system regenerates bills automatically and re-applies existing payments to new bills.

Cancel Product Contract

You can cancel a particular Product Contract of a user and leave the rest of their Contracts active. If there are active paid bills for the cancelled products, the system cancels them and moves payments to Unapplied Funds.* The system behavior is different for Open Item and Balance Forward bill types.

Cancel Bill

You can easily cancel one, multiple, or all bills for a user account without cancelling a Product Contract or user subscription. The system automatically unapplies all payments applied to these bills.

Add and Manage Programs

The system allows you to add a new Program to the system and manually configure its billing properties. You can also specify the Carrier Fee amounts that should be applied to each Program.

Manage Payments Manually

EngagePoint Financials 2.x provides the flexibility of managing payments and available funds. Now you can perform the following operations from the Administrator’s Portal:

• Make a cash or check payment for a particular user account. The system moves the payment amount to user’s Unapplied Funds that can be later applied to one or several unpaid bills.

• Apply available unapplied or suspended funds to one or several unpaid bills of a user.

• Unapply payment from a paid bill thereby moving the payment amount to Unapplied Funds.

EngagePoint.com

What’s New in EngagePoint Financials 2.x

EngagePoint.com

• Configurable rules to lock or unlock bills for updates.

• You can lock or unlock an Open Item bill for update on the Program level. Also, you can configure settings for the first bill, ongoing bills, and the final bill.

• Configurable rules to allow or block bill update in case of coverage cost change.

• Configurable rules of consolidating component bills for different Programs in one bill.

• Ability to generate bills with a non-standard billing period. You can create an Open Item bill with a billing period that is shorter or longer than the standard intervals (month, quarter, year).

• New system configuration to report the billing and payment transactions to the Accounting Engine.

• Configurable Transaction Control Number: the system generates an additional payment ID for each payment created in the system including those received in a Daily Settlement File and made manually. This ID can be used for reconciliation and check/cash payment.

• Multiple unpaid bills can be displayed in the Individual’s Portal.

• Ability for Individuals to apply available unapplied funds towards one/multiple unpaid bills.

• Configurable settings to enable or disable the disputes functionality.

• Ability to create and view notices associated with a particular bill number.

• Wildcard search functionality for the Quick and Advanced Search sections on all dashboards of Administrator’s and Individual/Employer’s Portals.

• Ability to generate a file with all refunds posted in the system.

Configure Payment Processing RulesEngagePoint Financials 2.x supports two payment processing configurations:

• Payment processing with daily settlement files: The system posts payments and waits for the confirmation of payment transactions from a bank in a Daily Settlement File.

• Immediate payment processing: This configuration is applicable to the online payments and enables the system to post and apply payments immediately with real-time payment confirmation from a bank.

Configure Reason Codes

You can create and manage reason codes easily for the following manual operations:

• Generate a bill manually• Make a manual payment• Reverse a payment• Issue a refund

• Transfer a payment• Void a payment • Make a manual

adjustment to a payment

10+ Additional Enhancements

CONFIDENTIAL © 2015 EngagePoint™, Inc. All rights reserved.

Corporate Headquarters3901 Calverton Blvd. • Suite 110 • Calverton, MD 20705 • toll free (877) 248-3636

What’s New in EngagePoint Financials 2.x