Seller Centric
FCI-Enabled Factoring
FCI-Enabled Factoring in FinShare streamlines factoring operations, automating tasks like client onboarding, credit assessment, invoice verification, payment collection, and reporting. It ensures compliance and offers real-time visibility into the process. Factoring companies benefit from improved efficiency and the ability to meet client financing needs.
Steps 1 and 2 are provided through FinShare’s Customer Onboarding Module. If the customer fails to pay on the maturity date, our system conveniently supports services and other forms of repercussion such as payment under gateway (PUG), repurchase/reassignment, dispute, insurance, and more.
How FCI-Enabled Factoring works
1 Client Applies for Factoring Services.
2 Factor assesses Client and Debtor.
3 Bank approves financing request. Client submits invoices to Factor.
4 Factor advances a percentage of the invoice value to the Client.
5 On the maturity date, the factor, helps the importer to collect money, by contacting the import bank. The Debtor then pays the invoice amounts to the Factor.
6 Factor pays remaining amount of invoices to the Client.
How FinShare Uses FCI-Enabled Factoring to Benefit You
Learn more below about how FinShare uses FCI-Enabled Factoring to benefit businesses and optimize financial health. FinShare's proprietary technology streamlines the FCI-Enabled Factoring process, making it faster and more efficient for businesses.
Additionally, FinShare offers personalized support and guidance to ensure that businesses are making the most of their financing options and optimizing their financial health.
Invoice Factoring Software Features
Our invoice factoring software streamlines operations, simplifies processes, and optimizes efficiency. It offers advanced features such as invoice management, payment tracking, easy uploads, discount calculations, and customizable reporting, providing valuable insights into your factoring activities. Manage cash flow effectively with automated valuations and reserve rebates.
Automated Receivables Valuations
Streamline the valuation of your receivables with our invoice factoring software's automated functionality. It automates the calculation of the value of outstanding receivables, providing you with up-to-date and accurate information on your financial assets. By automating receivables valuations, you can make informed decisions regarding funding availability, risk assessment, and overall portfolio management.
General Ledger Entries for Double Entry Accounting
Our software offers robust general ledger functionality for accurate and reliable double-entry accounting. Record and track financial transactions seamlessly, ensuring consistency and integrity. Maintain proper entries to reconcile accounts, generate financial statements, and comply with accounting standards effortlessly. Simplify the complexity of double-entry accounting with our software, providing the necessary tools for accurate financial management.
Reserve Rebates and Negative Reserve Rebates
Our software simplifies the management of reserves by offering features for reserve rebates and negative reserve rebates. You can easily track and calculate rebates based on predefined criteria, ensuring accurate adjustments to your reserve accounts. This capability enhances your ability to manage cash flow, optimize reserve allocation, and maintain transparency in your factoring activities.
Discount Percentages for Transactions
Manage discount percentages efficiently with our invoice factoring software. Set and adjust discounts for early payments or factoring fees based on your needs. Automate calculations to ensure accurate and consistent pricing, enabling transparent and fair transactions. Our software provides flexibility and reliability in managing discount percentages for enhanced pricing control.
Standard, Ad-Hoc, and Custom Reports
Effortlessly generate comprehensive reports with our invoice factoring software. Choose from standard pre-built reports, create ad-hoc reports for immediate analysis, or customize reports to meet your specific requirements. Gain valuable insights into factoring activities, portfolio performance, cash flow analysis, and more. Utilize our reporting capabilities to make data-driven decisions, monitor key performance indicators, and demonstrate transparency to stakeholders effectively.
Purchase Schedules of Invoices
Our software allows you to create purchase schedules for invoices, providing you with better control over your factoring transactions. You can define the timing and terms of purchasing invoices from clients, aligning them with your cash flow needs and customer preferences. This feature enhances your ability to manage working capital effectively and optimize your factoring operations.
Effective Risk Management
Our software provides robust risk management capabilities for supply chain finance. Assess client creditworthiness, evaluate risks tied to accounts receivable, and make informed financing decisions. Set credit limits, perform credit checks, and establish risk mitigation strategies. Minimize losses, protect cash flow, and ensure a sustainable operation.
Account Debtor Payments
Simplify the process of tracking and managing account debtor payments with our invoice factoring software. It provides a centralized platform where you can easily monitor and reconcile incoming payments from account debtors. This streamlines the payment reconciliation process, reduces manual effort, and enhances accuracy in tracking the financial inflows from your clients' debtors.
Automated Advance Upload Capability
Our software offers an automated advance upload capability, enabling seamless processing and tracking of advances. With this feature, you can efficiently upload and manage advance payments, ensuring timely and accurate disbursement of funds to your clients. It eliminates manual data entry and reduces the risk of errors, saving you time and enhancing operational efficiency.
Ready to optimize your
Supply Chain solutions?
Optimize your supply chain with our powerful and intuitive FinShare solution for streamlined operations and enhanced efficiency
Request a Demo