FCI-Enabled Factoring

What is FCI-Enabled Factoring?

PTI's FinShare Factoring Solution provides banks and financial institutions the ability to capture, manage, and process various advances utilized in the factoring business. PTI'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. Our solution ensures compliance and provides the means to qualifying clients, rating account debtors, account maintenance, and collection and invoice tracking.

FinShare automates all of the factoring services and reporting needs through alerts, reminders, and email. PTI 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.

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1. Client applies for Factoring Services.*

2. Factor assesses Client and Debtor.*

3. Client initiates Factoring transaction(s).

a. Client submits invoices and transports goods to Debtor.

b. Client submits invoices to Factor.

4. Factor advances a percentage (%) of the invoice value to the Client.

5. On the maturity date, the Debtor pays the invoice amounts to the Factor.*

6. Factor pays remaining amount of invoices to the Client.

*Steps 1 and 2 are provided through FinShare’s Customer Onboarding Module.

*If the Customer fails to pay on the maturity date, our system conveniently supports services and other forms of repercussion such as PUG and Insurance.

Benefits of the FinShare Solution

  • 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.

  • Standard, ad-hoc, and custom reports.

  • Risk Management.

Ready to join the FinShare solution?