Finance Software [Feb. 5, 2009 15:06:50]

Finance deals are very complex because they are often involved many
different parties, such as credit rating agencies, dealers, banks, insurance
companies, brokers, and certainly, the customers. Essentially, all the
above parties must be ‘ linked’ to one another in order to share real time
information.
To simplify the finance process activities in every multifinance company, an automated business process solution that links all the above involved parties. Therefore, by automating the credit business process, multifinance
organizations can improve productivity and effectiveness, while enabling
e-commerce through web access platform.
The core component of FinanceSoft is an account-based A/ R
accounting system. Comprising the core are CIF, Back Journals, Postdated
Check, Billing & Payment, Insurance, Incentive, Bad Debt Management
and Collateral Tracking applications.
The web-based nature of FinanceSoft enables a customer to complete his application on web forms. Importantly, any account officers will be able to check whether an application come from a
new customer or an existing one, check customer info to determine his
creditworthiness, validate and analyze the risk and makes the decision. If
approved and the fund to be disbursed is available, a new A/ R account
will be automatically created.
Once the financing agreement is signed, the account will be maintained
by the system’ s back office, which handles billing, payments to dealers,
collection from customers, etc. To keep risks to the minimum, the system
also incorporate a collateral management system, which tracks the status
of the collateral and sends an alert if the necessary documents are
incomplete.