Premium Technology Inc. - Supply Chain Finance Software Solutions
 
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FinShare Overview     |     Bank Payment Obligation (BPO)     |     Supplier Finance (Reverse Factoring)     |     Receivables Finance     |     Factoring     |
 
Purchase Order Financing     |     Asset Based Lending (ABL)     |     Risk Participation     |     Document Preparation (DocPrep)     |     Customer Onboarding (COB)
 

 
Premium Technology's Document Preparation System (DocPrep) is a platform for banks to provide trade services documents for exporters who use Letter Credit (L/C), Open Account, Collection, etc. to move goods.  The Document Preparation application can be utilized as a stand-alone, but it is an integral part of our Purchase Order Tracking System.  For example, our Document Preparation system will create the customs forms that will help track goods during the PO2P cycle.  Banks, exporters, buyers and other third parties can view and communicate through this platform's web enabled capabilities.  This will allow for efficient, accurate and robust information and documentation to be available for all parties concerned when needed. Also these capabilities will facilitate efficient movement of trade goods and payments. Document Preparation involving international transactions and several parties can be a stressful and tedious job. For example, in Letters of Credit (LC), documents must conform to all terms and conditions and if there are even minor discrepancies, such as a spelling mistake, the bank has the right to reject it and decline payment. This forces the supplier to waste valuable man hours fixing the discrepancies and resubmitting the documents, but at this point payment has already been delayed and penalties have been assessed. In some cases the delay in payment and the penalties incurred can actually cause the supplier to face loses on the transaction.

With studies showing that LC rejection rates could be as high as 40-70%, it could be financially advantageous to find a solution that will streamline the Document Preparation process. With Premium's DocPrep system, you will be able to deliver discrepancy free documents in a cost effective way and also significantly lower Days Sales Outstanding (DSO) in the supply chain.  Click here to find out how our DocPrep system can lower your DSO.
  FinShare Suite Illustration
 
 
Key Features:
  • Web-based access allowing approved parties, even 3rd parties (insurance providers, etc), access to the system through a  standard web interface.
  • Customizable document library, provides common document templates (Bill of Lading, invoices, packing lists, etc).  It also supports customized templates by users
  • A document rules engine to manage the required documents  The rules workflow follows and enforces the bank's internal policies
  • Easy document/data capture, that supports various channels to upload the original document and automatically populates data from structured data files
  • Document generation, generate document by populating data into user-created templates
  • Automatic document checks against predefined list, automatically checking
    for discrepancies
  • Workflow driven by both flexibility and management control
  • Collaborate/share/deliver/print documents efficiently/securely between parties. Various parties (bank/customer/vendors, etc.) can access different functionalities of the application through the secure web platform, based on right assignments
 
  • The application supports digital signature
  • The application provides customizable dashboard and reports for easy status and activity review in real time
  • Event notification / Internal message exchange. Users will be notified when various events occur. They can also exchange messages internally within the application
  • Audit trail. The application records user actions, tracks work item status, creates timestamp for each event, and stores all document
    version histories
  • White labeling enabled
  • Supports multi-languages
  • Supports transactions for L/C, Collection, Open account, etc.
  • Hosting services available
 
 
Advantages of the FinShare Solution
  •    Enables the exporter to receive payment quickly by delivering required documents accurately and efficiently
  •    Enables the bank to provide better service to supplier
 
  •    Enables the bank to manage the document preparation process more efficiently and reduce cost
  •    Enables automated data entry so eliminates the need for manual data entry, which cuts costs
 

 
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