Factoring system
Factoring System for the handling of account receivables
Our Factoring System enables specialized financial organizations to efficiently handle the back office processes required for factoring such as claim assignment, management and recovery.
Work scope
Factoring System
Overall business plan
Flowchart
Factory financial company refers to any financial business, such as transferring, managing, and collecting sales receivables from clients and maintaining financing or providing services before the due date
Key functions
| Business functions | Detailed explanation of business | Features | |
|---|---|---|---|
| Consultation service management |
Consultation services
- Managing registration of consultation of bonds from trading companies - General status, limit and grade registration of corporation |
Issuer(distributor)Management
- Detailed explanation - Inquiry and registration of performance |
- Management of distributor and the current status of trading company |
| Agreement of bonds |
Registration of purchasing contract
- Registration of operating conditions (amount per case, Same person amount, pledged mortgage ratio, etc.) - Input applicable interest rates - Input financial payment limits - Confirmation of contract approval registration |
Issuer management (Issuer evaluation, contract, limit management) | - Contract of purchase |
| Financial implementation |
Management of credit implementation
- Process financial payments for each bond, such as promissory notes, account receivables, fixed bonds, unconfirmed bonds, etc. - Process installment implementation - Registration of collective purchase finance implementation - Provide periodic interest schedule for partial prepayment - Management collection and commission fee |
Change of implementation condition
- Change payment method - Change payment date - Change interest rates |
- Registration of implementation, processing confirmation - Provide purchase details/interest statement - Provide bond details - Check the history of prepayment |
| Withdrawal of finance |
Management of withdrawal of bonds
- Process withdrawal of finance for each bond, such as promissory notes, account receivables, fixed bonds, unconfirmed bonds, etc. - Interest income transactions - Period interest calculation |
Inquiries of detailed transaction by bonds |
- Provide return/delay interest bill - Provide a prepayment schedule |
| Follow-up management |
arrears management
- Current status of arrears - Extended period management - Factoring Transfer transaction next week - Change order of collection, period extension transaction |
Management of dishonored bills
- Report/receive/return of dishonored bills - Current status of bill/check which are not received and not returned/checked - Current tatus of bankruptcy transactions - Specification of default by date/issuer - Current status of default rate - Dishonored ledger |
- Current status of bankruptcy and delinquency by bond - Specifications by condition |
| Management of actual bonds (Management of dishonored bills, management of actual bonds, Current status of dishonored bill rate, etc.) | |||
Expected effects
Expected effects
BUSINESS GOAL
