Sales irrespective of location for banks and factoring providers / automated quote generation / consistent data preparation in the Fact.pilot suite
Neuss, 17 October 2016. The online FACT.boarding platform allows banks and factoring providers to sell their factoring services online for the first time. To do this, FACT.boarding enhances the provider’s website with a sales channel allowing the company to request a factoring product with just a few clicks. Entering into the agreement in this way is significantly quicker than to date. The platform can be configured for different currencies and languages, and can be used around the world. This does not just accelerate the onboarding of customers, but also significantly broadens the target market. FACT.boarding is supplied by fidis.GmbH, one of the leading international suppliers of software solutions for factoring and ABS processes.
“The acquisition of open trade receivables is a booming market and a lucrative business for financial service providers,” emphasises Otto Johannsen, Managing Director of fidis GmbH. “Outlay for processing quotes and agreements is certainly significant, and until today it was only possible with key accountants. FACT.boarding now allows any company around the world to be onboarded as a factoring client – without any presence on the ground. This opens up a huge market to the industry.”
The quote process is fully automated with FACT.boarding. The interested party receives their bespoke terms and conditions for a factoring agreement with only a few clicks of the mouse. Details about the number of debtors, their turnover, and the amount of open invoices define the factoring charges and the desired limits. At the same time the system checks whether the company satisfies the customer requirements from the bank’s point of view. An online connection to a credit agency provides a rating and further financial information by entering the tax number. Customer data obtained in this way is integrated directly into the quote. This reduces the amount of inputting and potential mistakes. Once the quote has been completed the company receives the completed agreement by email after final checks of the bank.
FACT.boarding not only makes the selling of factoring faster, but also more secure: This is because parameters saved to the system regarding permitted industrial sectors, creditworthiness criteria and limit conditions can be configured. This allows each institution to control the selection of its customers. A further advantage is that the system saves every aborted application form. This allows key accountants to personally follow up potential leads.
Anyone using FACT.boarding together with the FACT.pilot suite from fidis is able to directly set the new customer up for cooperation in the system’s additional modules after the agreement has been entered into with a click of the mouse. This makes the onboarding process with factoring highly automated. This significantly reduces outlay, and at the same time substantially lowers the amount of mistakes.
fidis GmbH is internationally one of the leading service providers 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
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