Optimise factoring by mouse click

Special web portal optimises interaction between factor and clients / all documents available at all times / new release with extensive filter and export function

Anyone who uses factoring as a financing instrument or provides it as a factor knows what a flood of information is circulating about purchase and payment transactions every day. What seriously complicates the situation is that factoring institutions usually send out their information by normal post or email. Receipts, purchase notifications and portfolios are then simply sent as attachments. With the hundreds and even thousands of transactions that occur every day for each individual factoring client, the time and effort are enormous. Missing or incorrectly filed information leads in turn to annoyance and increased demand among clients.

FACT.portal, a new web portal of the factoring service provider fidis, has recently enabled the flood of documents to be managed clearly and quickly. All the documents are provided in a central platform. Clients can also view the current status of invoice processing or payment rate at all times. This significantly enhances transparency for factoring clients. A key benefit for the factor is that he no longer has to send the information by email and therefore saves time and money. These are benefits that have now been significantly expanded with the new release of FACT.portal 2.1.

With the new release of the factoring portal FACT.portal all the relevant factoring information about contacts, availability, payment receipts, open and cleared items and debtors can be displayed even more clearly with one click. Clients can use powerful filter and export functions to conveniently inspect and process all the information about their transactions. An electronic post box serves as an information centre for the factoring company and their clients. At this central collection point all the documents can be exchanged easily and securely. This makes interaction much easier.

“The cost that is generated in factoring by administering documents alone is huge”, says Otto Johannsen, managing director of fidis GmbH. “Those who manage to minimise this effort can concentrate on the really important things – like achieving as much liquidity as possible from receivables or investing more money.” But anyone who wants to optimise factoring has to recognise in good time when open invoices threaten to exceed their credit limit. Only then can the factor or client act and negotiate a higher level of financing with the credit insurers. Regular monitoring of debtors’ payment behaviour is also an important indicator of potential problems and should therefore be constantly under review.

For the factoring client especially an overview of current availability is crucial. Only if he can see at a glance which invoices have already been purchased and under which conditions is he aware of his cash flow. As incoming payments and letters of advices are also displayed in the new release, clients can now check directly whether bonuses, discounts and rebates have been accounted for properly – no need to submit queries to the factor again. But if queries do arise, they can be dealt with more easily, as both parties can access the appropriate documents on the portal.

To make searching for documents easier, the new release now includes several new and powerful selection and sorting functions – data can be sorted in ascending or descending order based on any criterion. With its brilliant filter function the data displayed can also be limited to those with specific characteristics. The selection is done in real time. Any periods for the selection and display of data can be chosen on the calendar. All the data displayed on FACT.portal can also be easily exported at the click of a mouse. As such, either Excel or CSV files can be produced or the data can be copied immediately to the clipboard and then easily pasted in any other programme.

FACT.portal is part of the FACT.pilot® factoring software by fidis. The new release has been online since January.

About fidis

fidis GmbH is internationally the leading service provider of standard software for factoring and ABS processes based on SAP. The use of “FACT.pilot®” and “ABS.pilot®” enhances the competitiveness of factoring companies as well as the banking houses and saving banks. At the same time, they also fulfil the statutory stipulations. The modular structure of the software ensures quick implementation on the required scale. Irrespective of its size, every business can take advantage of this solution. fidis was founded in 2000. Its customers include leading factoring companies, big banking businesses and savings banks.
www.fidis.com

press contact
Eva Wagenbach
möller pr
Telephone: +49 (0) 221 80 10 87-89
E-mail: ew@moeller-pr.de
www.moeller-pr.de

This release was published on openPR.