Factoring Solution provides banks and financial institutions with the ability to capture, manage and process
the various advances utilized in the factoring business. Premium's solution is a user friendly product that
automates and integrates the required business functions that enable factoring organizations to provide the
solutions their customers demand.
FinShare Factoring Solution software is a web enabled application. It not only provides banks, financial
institutions, and factoring companies all of the necessary information for them and their clients to keep
track of their own business; it allows your company to offer your customers an automated upload of advance
information as well as the ability to view transaction status. Also our software provides businesses
with the ability to analyze their own needs and requirements. This is done by creating a snapshot that
provides a summary of the financing terms of each transaction, which allows the financial institution and
their clients to see all the costs involved with a particular transaction. Thus, all parties will know
all the actual or potential advantages or disadvantages before making a final financial decision.
Our solution ensures compliance and provides the means to qualifying clients, rating account debtors
and account maintenance, and collection and invoice tracking. FinShare
automates all of the factoring services and reporting needs through alerts, reminders, and email.
Premium recognizes that banks, financial institutions, and factoring companies deal with different types
of businesses even within their own sector. Our software is designed to meet all types of business needs.
The FinShare Factoring Solution provides for a complete
invoice process, including:
- Invoice factoring software features
- General ledger entries for double entry accounting
- Provides discount percentages for transactions
- Purchase schedules of invoices
- Account debtor payments
- Automated Advance Upload Capability
- Automated Receivables valuations
- Reserve rebates and negative reserve rebates
- Risk Management
- Standard, ad-hoc, and custom reports