Financial Factoring Cloud-Based Factoring Software
Start your factoring business online with our state-of-the-art software. With our Software as a Service, you will have the opportunity to experience the advantages of cloud-based technology and make your clients enjoy fast, secure, and flexible factoring at all times.
Financial cloud-based factoring software is characterized by its speed, security, and flexibility. With this, it is possible to simplify all the complex factoring processes and enjoy an agile and efficient experience. Our solution is available as a white label, allowing you to customize it according to the properties of your brand and launch it to the market as if it were your product. The latest version of our financial software comes with a client portal that includes an interactive control panel, multi-currency accounts, multilingual services, and a general ledger. In addition, advanced functionalities allow you to upload invoice details online and create instant installments based on the company’s business model, credit rating, and reputation.
What is financial factoring and how does it work?
Financial factoring or cloud-based lending is one of the most effective ways to help SMEs find short-term capital by selling and assigning invoices to third parties at a discount. The third parties that participate in the process are called “the financial institution,” or “factor,” while the companies that sell your invoices are known as “assignors.” Factoring allows cedants to obtain sufficient liquidity to continue supporting their businesses’ growth and operate efficiently.
The purpose of factoring is to finance cash flow. However, it is not a loan because the company sells its collection rights to a factor for an additional fee. All this is done through factoring software, which offers a multitude of options to facilitate the process and establish a more successful collaboration between credit and factor.
Factoring Platform – The Factoring Process
When an agreement is reached, the factor advances the money to the assignor. In most cases, the full amount is paid in two installments – the first payment is immediate and covers most of the invoice amount. The rest is paid after the full collection of the invoice.
Proven Factoring Software Is What Makes The Difference
If you want to get more out of your factoring business, you need state-of-the-art financial software. Although many solutions offer similar features, fundamental aspects make the difference: average approval time, financing requirements and pricing, connectivity to external systems, ease of use, and more. A solution equipped with functionalities like these guarantees that all factoring processes are carried out in a more simplified way.
SECURITY AND SPEED
In addition to being one of the fastest factoring solutions, it is secure and trustworthy. Once you welcome your clients to the world of factoring using our platform, you can improve your business and achieve your long-term goals. Plus, online factoring requires less administrative work and lowers the costs associated with the process, which is what your customers need to simplify and speed up their workflow.
BETTER CASH FLOW
Online factoring works best when the company works with trusted customers who make their payments on time. And when online factoring is enhanced, you can streamline business processes, increase cash flow, and fruitfully engage with your clients – all of which results in more effective financial planning.
TRANSPARENT FACTORING PROCESSES
Traditional banks have started to lose popularity due to their overwhelming processes, hidden fees, and security requirements. Unexpected security. On the other hand, using the digital factoring platform guarantees that your clients receive the answer and the price estimate immediately – without waiting and wasting their valuable time.