iLab saves a significant amount of time and increases compliance in billing and invoicing, for both internal and external customers. For internal customers, the iLab system can post charges directly to the general ledger without data re-entry. iLab offers several options to charge external customers, including automatic creation of invoices. For both internal and external customers, the iLab system automatically provides PIs with a summary of upcoming charges. Cores can bill on whatever frequency they desire.

The benefits of iLab's billing and invoicing features include:

• Core managers save hours or days every month by using automatically-compiled invoices and/or journal entries, which can be directly imported into the financial system without data re-entry
• Financial administrators and core managers save time spent dealing with invalid funding codes
• Cores receive reimbursement more quickly
• Cores reduce non-compensation with incremental billing, optional fund encumbrance, and tracking of payment status
• Compliance improves through a more accurate allocation of services to grants