General Overview
Factoring System
You can handle loans and open credit lines for your clients next to factoring services. Our system guarantees smooth and efficient business financing for banks, factoring companies, and other financial institutions
Product Features
Our clients are our partners in success, and we seek to provide them the tools and confidence they work to embrace rapid technological development, and to make these changes works to be their competitive advantage.
Multicurrency support
Master Factoring agreements
Automated calculation
Data tracking and reporting
Open invoice management
General ledger integration
Automated document management
Debt management
Multicurrency support
Master Factoring agreements
Automated calculation
Data tracking and reporting
Open invoice management
General ledger integration
Automated document management
Debt management
Multicurrency support
Master Factoring agreements
Automated calculation
Data tracking and reporting
Open invoice management
Open invoice management
Overview of all open invoices on a single page. Invoices are run through a validation process to ensure they meet all acceptance and contract criteria for the client
General ledger integration
The Solution has full integration with a Factor financial accounting system and a General Ledger module.
Automated document management
Create, store and distribute documents throughout the factoring process. Produce factoring documents automatically, configure document templates, and map to data in the System.
Debt management
Monitor delinquent accounts, take actions, and log them in the system (e.g. call the customer, log promise to pay, follow-up call if a promise is broken)
Multicurrency support
Finance your client invoices in various currencies. Calculate the exchange rate associated with the date on the transaction for each conversion of a currency amount to a local amount.
Master Factoring agreements
Manage Factoring Agreements throughout the whole lifecycle: attach factoring products, create, and approve factoring credit limits and agreements; upload legal documents to a factoring agreement
Automated calculation
calculate interest on the debt balance and recalculate interest in case of partial early repayment of debt. Benefit from automation function for calculating overdue penalties, as well as allocated, outstanding, and released reserve amounts
Data tracking and reporting
Easily drill down to G/L transactions for every calculated and posted figure in the system. The built-in platform features enable to the export of every single internal report and many views to Excel.
Open invoice management
Overview of all open invoices on a single page. Invoices are run through a validation process to ensure they meet all acceptance and contract criteria for the client
General ledger integration
The Solution has full integration with a Factor financial accounting system and a General Ledger module.
Automated document management
Create, store and distribute documents throughout the factoring process. Produce factoring documents automatically, configure document templates, and map to data in the System.
Debt management
Monitor delinquent accounts, take actions, and log them in the system (e.g. call the customer, log promise to pay, follow-up call if a promise is broken)
Multicurrency support
Finance your client invoices in various currencies. Calculate the exchange rate associated with the date on the transaction for each conversion of a currency amount to a local amount.
Master Factoring agreements
Manage Factoring Agreements throughout the whole lifecycle: attach factoring products, create, and approve factoring credit limits and agreements; upload legal documents to a factoring agreement
Automated calculation
calculate interest on the debt balance and recalculate interest in case of partial early repayment of debt. Benefit from automation function for calculating overdue penalties, as well as allocated, outstanding, and released reserve amounts
Data tracking and reporting
Easily drill down to G/L transactions for every calculated and posted figure in the system. The built-in platform features enable to the export of every single internal report and many views to Excel.
Open invoice management
Overview of all open invoices on a single page. Invoices are run through a validation process to ensure they meet all acceptance and contract criteria for the client