FACT.direct: Factoring with a Mouse Click
The web tool FACT.direct standardizes the selling of factoring products / quicker signing of agreements / new target groups and marketing channels
(firmenpresse) - Kaarst. Selling factoring agreements is complex and time consuming: the credit rating needs to be reviewed, haircuts determined, and several versions of the agreements prepared. Each mistake can have serious repercussions. For that reason, previously, only consultants at banks, savings banks (Sparkassen) and financial brokers who are experts in the field of factoring products were able to sell these products. All that is about to change now with a new IT tool. FACT.direct almost entirely automates the bidding process using parameters already fed into the system. New factoring agreements can be generated with a few clicks. If once concluding a factoring agreement would take up to three months, the agreements are now ready for signature already while the consultation is underway. fidis GmbH has developed an online IT solution in collaboration with S-Factoring GmbH, a company of the group of saving banks (Sparkassen) in Germany.
“FACT.direct allows us to considerably simplify and accelerate our processes”, underscores Uwe Sablotny, CEO of S-Factoring GmbH. “Now almost all Sparkassen consultants can offer and sell factoring products to their customers. For that, they only need a computer with internet connectivity.” Until now, factoring was being offered only to selected key customers. The sales process was too onerous for bulk transactions to be conducted at the point of sale. At the same time, FACT.direct opens up very new target groups. “FACT.direct allows banks and savings banks to also approach small and medium-sized companies with high efficiency”, explains Reiner Hirschberg, CTO of fidis GmbH. “That opens up entirely new marketing prospects for the institutions”.
Consultants now only need to enter the company information and the industry affiliation of their customers into the input screen. The system checks the credit rating and the admissibility of the sector. If the result is positive, information concerning the acquisition volumes, factoring parameters and the larger debtor are retrieved. At the push of a button, FACT.direct automatically computes the offer with the fees and the security deposit. Following a few further clicks, the agreements can be retrieved in PDF format, which are available for print and ready to be signed immediately.
The parameters in the system concerning approved industrial sectors, credit rating criteria and limit conditions are determined by the factoring company. “This security matrix allows the institute to regulate the processes and control the risks”, explains Reiner Hirschberg. “Whoever wants can also set individual parameters for each partner institute”. At the same time, the factoring provider can monitor all the processes via the portal for affiliated sales partners. They thereby secure 100 percent transparency. Reports listing information on the closing rates and the duration of the conversations also allow sustained optimisation of the whole sales cycle.
S-Factoring GmbH has already automated the processing of its existing factoring mandates with FACT.pilot. As the next step, FACT.direct now offers a form of high performing sales support.
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About fidis
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.
press contact
Eva Wagenbach möller pr Telephone: +49 (0) 221 80 10 87-89 E-mail: ew(at)moeller-pr.de www.moeller-pr.de
Datum: 25.01.2016 - 16:29 Uhr
Sprache: Deutsch
News-ID 446239
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Contact person: Eva Wagenbach
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Software
Typ of Press Release: Produktinformation
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