Factoring
The factoring industry is exploring new horizons, both in geographical terms and in functionality. The world economy is still in turmoil but the factoring industry has shown to be an excellent service provider, even in difficult times, supporting and facilitating domestic and international trade. With change coming this rapidly, banks and NBFC's must quickly embrace the new world order and accelerate growth to stay a step ahead of the competition. This requires shedding away the complexity which has grown significantly across business functions and operations.
FACTLIVE is an innovatively designed and conceptualized factoring product for banks and non banking financial corporations. Designed in multi-tier architecture, SOA enabled highly secured and configurable system to suit all forms of factoring needs. It is a platform independent and database independent solution. Powerful and yet affordable.
FACTLIVE is designed to free you from the technological worries and concentrate on how to improve your business potential. You can:
Implement flexible and fully parametric factoring products/services that can contribute directly to customer values and performance
Create a transparent holistic working environment, which can be used to develop and empower employees by seeing how they can contribute to the business more efficiently
Manage the entire factoring corporate collections portfolio (B2B)
Meet your objectives, cost and time efficiently
Integrate processes into very effective cross-functional flows with high automation on all key factoring processes, that can accelerate the performance of your organization
Make optimal decisions with central management & globally unified reporting
FACTLIVE empowers your organization to:
Minimize time and cost of new product/service implementation by over 80%
Provide the customers with funding almost immediately after submitting invoices
Improve customer service - Interaction between factoring company and factoring client on open platform
Maximize employees productivity, restrict waste of resources (double effort, waiting times, set ups, inappropriate processes etc.)
Improve performance - Greater flexibility & business process automation
Improve risk management - Follow up risk on invoice level
Reduce collection costs, total bad debt and delinquency
Full audit trail with Data security and integrity
Fast and reliable communication and transparent overview of all transactions
Fast regulatory and MIS reporting
Require minimum effort and involvement of your institution’s IT department
Turn data into a competitive tool through Data Mining facility
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