Faktor

Faktor is a novel development by Asseco Business Solutions designed for an umbrella support of businesses providing factoring services. The solution consists of several subsystems handling various tasks occurring in the factoring process. The system is aimed to accommodate the needs of providers of factoring services, credit management or debt collection services. Factor can be employed both by independent companies providing factoring services and by banks pursuing similar activity (the system is set to handle these two groups of users). Factor is a modern, productive solution ensuring high flexibility and security of transactions. The system automates business processes and offers individual adjustment of settlement methods to the client's - seller's - needs.

Due to elaborate parametrization, the system enables:
1. close cooperation with sellers,
2. flexible communication also by means of the Internet,
3. reduction of cost incurred by both the factoring company and its clients.

The transaction processing system
The transaction processing system is a basic system embedded in the Faktor solution. It is the core part of the system responsible for collecting and processing data related to the settlement of factoring transactions. The transaction system comprises a database server (Faktor Server) that collects and stores data on factoring transactions and is a repository of services for data processing at the different stages of the factoring procedure. The other part of the system is the client application (Faktor Standard Client) used by the personnel of a factoring institution. It is used for entering data, its further modification and complex settlement of factoring transactions (including the generation of documents and reports by a complex reporting module). Available within the system, a catch-all set of alerts reminds users of important activities.

Internet Factor (WEB Portal)
Internet Factor (WEB Portal) is a system facilitating the exchange of data and information between a factoring institution and its clients (via a user-friendly web-based portal.)

With this solution at hand, the client of a factoring institution may:

• automate the process of delivering invoices from anywhere and at any time
• access an elaborate reporting module, providing comprehensive information on mutual settlements without the need to contact the factoring company in person
• obtain electronic confirmation of receivables by debtors and receive and send to factoring institutions documents created in the factoring procedure

Transfer Matching

Transfer Matching is a distinctive mechanism of unassisted matching of receivables to repayments (from money transfers made by the debtor) with a very high accuracy. The use of this subsystem speeds up operational processes (owing to an automated matching of repayments), which eliminates the involvement of employees and contract the workload of the process. The unique receivables detection algorithms employed in the solution make the matching process highly efficient.

Analysis Client
Analysis Client is a Business Intelligence class system for the factoring industry, enabling detailed, multi-layer analyses. Additionally, the system is equipped with unique indicators of workload and risk associated with factoring agreements. The employment of Analysis Client allows multi-level analysis of agreement profitability, maturity of commitments and repayment analysis. Moreover, early detection of risky behaviours of sellers and contractors becomes straightforward and effortless. The system has an e-mail mechanism of distributing management information with a view to informing users of major indicators and outcomes of performed analysis.

CRM Faktor
CRM Faktor is a system intended for the support of sales processes in companies offering factoring services. When creating this application, Asseco Business Solutions relied on its best knowledge and many years' experience gained in inventing software for the management of sales forces in the FMCG market. CRM Faktor helps broaden the coordinated activities related to sales and customer service to include field sales forces (field advisers), who can obtain client-related data, previously available only in the central system (cooperation history, the scope of existing agreements, etc.). The system supports the automation and control of the process of setting up factoring agreements and the handling of factoring applications; it allows the monitoring of the sales representatives' work standards and gathers and analyses data on market or client's needs.