High-quality Factoring Software - Reasons To Own
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Title/name of presentation/conferenceHTTP://FACTORING.COMARCH.COM
Vienna, Optimising Factoring Products and Services14-15th of May 2009
Vienna, Optimising Factoring Products and Services14-15th of May 2009
REASONS TO OWN HIGH-QUALITY FACTORING SOFTWAREREASONS TO OWN HIGH-QUALITY FACTORING SOFTWARE
Title/name of presentation/conference
SUMMARY
• Corporate profile
ELEMENTS AFFECTING YOUR COMPETITIVENESS
• Automation of business processes• Cutting opeational costs• E-invoives• Instant money funding• Reacting to market changes• Internet
Products PricesMarketing
Automationof businessprocesses
Reacting tomarket
changesInternet
E-invoicesInstantmoneyfunding
Cuttingoperational
costs
HTTP://FACTORING.COMARCH.COM
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WHAT ARE REASONS TO OWN HIGH-QUALITY FACTORING SOFTWARE?WHAT ARE REASONS TO OWN HIGH-QUALITY FACTORING SOFTWARE?
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TO SPARE TIME & STREAMLINE FLOWS
EFFICIENT COMMUNICATION MODULE STREAMLINING FLOW OF INFORMATION AND THE DAY-TO-DAY WORK
– Infomation sent to factor employees, clients and their customers
– Different communications channels (FAX, SMS, EMAIL, INBOX)
– Communication module affecting every aspect of the daily work:
• Financing• Repayment settling• A/R Monitoring• Risk management• Insurances/Claims• others
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ComarchFactoring
COMMUNICATION CHANNELS
COMMUNICATION
Risk management
A/R Monitoring
AccountingCollections
Invoicemanagement
Requestprocessing
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TO MAKE YOU FLEXIBLE
Customization of business processes for each client and their customers– Such approach helps treat your clients individually – Reduction of operational costs thanks to the automation of
business processes of clients that we trust and have not had problems with
– Ability to change your approach anytime against any client
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Fundingrequest
processing
Repaymentsettling
A/RMonitoring
Collections
Individualsettings
Individualflows
HTTP://FACTORING.COMARCH.COM
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TO BE HIGHLY COMPETITIVE
CUSTOMIZABLE PRODUCT WIZARDS allowing you to create any factoring product and modify it in many ways
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• 2-stage product definition• Handy wizards used on
both stages• Hundreds of parametrs
and possibilities
Individual approach to each client
Producttemplate
Riskallocation
Factoringproduct
type
Caluculationformulas Product
definitionfor
individualclient
...
Pricingmodel
Limits
Individualconditions
Financingterms
...
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TO BE UNIVERSAL
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• Modularity of the platform ensures quick & easy deployment of new functionalities and modules
• Software provider should constantly monitor the market and adapt its software to new conditions
IN AN ENVIRONMENT OF FIERCE COMPETITION CHANGES AND NEW TRENDS ON THE MARKET NEED TO BE QUICKLY REFLECTED IN YOUR FACTORING SOFTWARE
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TO KEEP UP WITH THE TIMES
The system designed using the latest available web based technologies – it is your prestige and client satisfaction
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• Access to the platform any time from any place
• Fully web based• Modern look&feel• Usefull functionalities made
available for your clients• State-of-the-art protection
mechanisms to make your client feel more comfortable
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TO SPEED MONEY TRANSFER (1)
Invoicesubmission
Sendingfundingrequest
CLIENT FACTORING COMPANY
VerificationFundingrequestapproval
Moneytransfer
• Time-consuming (depending on the factoring company it usually takes one or more days to transfer funds)
• Emploees’ interferece required in order to make payment to client’s current account
• Good approach for new clients, or clients whose verfication is showing first signs of inferior financial condition
• Loss of money & time when applying this approach to clients we cooperate with for years without any problems and frauds
Factoring software
Bank wires(SWIFT, others)
Requestvalidation
Facto
ring
com
pan
y
Inte
rfac
e
Clien
tB
ank em
plo
yeeRequest
processingby BankemploeeIn
terf
ace Making
payment
Central Banking system
Invoicesubmission
Sending fundingrequest
Requestanalysis
Manual requestapproval
Generalledger
Paymentsystem
Subsidiaryledger
Transactionalmodule
……...
……...
USUAL APPROACH (Manual request processing)
WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PLHTTP://FACTORING.COMARCH.COM
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ANOTHER APPROACH (Automation of request procesing)
Factoring software
Bank wires(SWIFT, others)
Requestvalidation
Fa
cto
ring
co
mp
an
y
Inte
rfa
ce
Clie
nt
Clientidentyfication
Adoptingautomation
formula
Central Banking system
Invoicesubmission
Sending fundingrequest
Generalledger
Paymentsystem
Subsidiaryledger
Transactionalmodule
……...
……...
User-definedautomation
formulas
Automaticrequest
processing
Makingpayment
• Full automation of this process and the ability to assign individual funding conditions to each client.
• Money on client’s current account within one hour from the invoice submission through client’s web portal ASSUMPTIONS:
– Client’s current account is held in the same bank which is factoring client’s invoices
– Payment processing is done efficiently by cooperating banking systems
• Payment made to accounts held in another banks done with delay due to the need to transfer money through Bank Wires (SWIFT, others)
• Great approach for clients we trust and have not had problems with so far.
• It leads to operational costs reduction and improving client satisfaction
• Required periodical client verification
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TO SPEED MONEY TRANSFER (2)
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TO GET A BETTER MARKET SHARE
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LOOK FOR FACTORING SOFTWARE WITH EDI INTERFACES THAT SUPPORTS PROCESSING E-INVOICES
There are thousands of companies using paper-less form of invoicing
Invoice factoring software can be integrated with systems for Electronic Document Interchange
• Comarch ECOD platform serves as an EDI system, that has been integrated with Comarch FactoringTM
• ECOD is used by 7500 clients in Europe and the number is constantly increasing
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EDI & FACTORING
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SIMPLE PROCESS OF FINANCING E-INVOICES RECEIVED THROUGH EDI INTERFACE
Supplier Customer
FactoringCompany
EDIPlatform
1. Invoice generation2. Invoice sent to a Customer
through EDI platform
3. Invoice received through EDI platform
4. Copy of the invoice received through EDI interface
5. Receiving the invoice approval and financing it
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EDI & REVERSE FACTORING
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Supplier Customer
FactoringCompany
EDIPlatform
1. Invoice generation2. Invoice sent to a
Customer through EDI platform
6. Receiving the proposal of invoice financing date
7. Acceptance/ rejection of invoice financing date and sending it to a factor through EDI interface
3. Invoice received through EDI platform
4. Sending the proposal of invoice financing date
5. Copy of the invoice received through EDI interface
8. Receiving the invoice financing date approval and final financing
THE PROCESS OF FINANCING E-INVOICES RECEIVED THROUGH EDI INTERFACE (WITH ADDITIONAL NEED FOR A CUSTOMER TO APPROVE INVOICES)
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TO MAKE YOUR LIFE SIMPLER by ADAPTATION of AUTOMATION MECHANISMS
• Invoice purchase, request approval, funds transfer
• Repayment processing (FIFO, custom)
• Monitoring of A/R, notification management
• Management of A/R, calculating fees, charges and interest
• Management of outstanding A/R, Collections
• Recourse
• Partial invoice purchase
• Operational start and end of each working day
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TO HAVE YOUR BUSINESS UNDER FULL CONTROL
• Coverage of all business processes in your factoring organization
• Expanded reporting module
• Expanded notification module
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TO ENSURE SAFETY
PROTECTION MECHANISMS
– HTTPS Protocol (SSL 2.0/3.0)
– Login & password
– Tokens
– Full support for PKI managament
– Site certificates
– Microprocessor cards with PKI for user authentication and authorisation of transactions
TO MAKE YOUR CLIENTS FEEL COMFORTABLE
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Real-life example (DnB NORD)
DnB NORD factoring turnover (mln PLN)
0
100
200
300
400
500
600
700
2005 2006 2007 2008
Year
Tu
rno
ver
2006 – Comarch Factoring deployment in DnB NORD. The deployment resulted in the immediate turnover growth in the next two years.
2008 – DnB NORD along with BGZ Bank doubled its factoring turnover and has been currently considered one of the most quickly growing factoring companies in Poland
Year Turnover
2005 app. 80 000 000 PLN
2006 97 700 000 PLN
2007 303 000 000 PLN
2008 632 000 000 PLN
- Repayment processing automation- New sources of invoice submission- Web-based portals for clients- Money transfer within one hour for the invoice submission in the client portal- Automation of A/R Monitoring and collection remainders
BE
NE
FIT
S
HTTP://FACTORING.COMARCH.COM
Title/name of presentation/conferencewww.comarch.com
PART 7. COMARCH - CORPORATE PROFILEPART 7. COMARCH - CORPORATE PROFILE
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COMARCH TODAY
• Leading software house in CEE
• Rich product portfolio for banking, insurance & capital markets
• 2000–2008 dynamic growth of:
– Revenues
– Profits
– Employment
• Present market capitalization reaches:160 mln EUR
• Invesments in R&D (15% of revenues)
REVENUE & NET PROFIT
R&D Investments
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COMARCHas a GLOBAL PLAYER
• Software export:– Software & services to
international corporations – Customers on 4 continents in
more than 20 countries– Over 3000 successfully
completed projects
• European headquarters -
Dresden, Germany
• Middle East subsidiary
monitors activities in the
developing markets
• Activity in the Americas
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COMARCH FOR FINANCIAL SECTOR – areas of focus
• Internet Banking (all financial products and services, mobile included)
• Customer Service (CRM, branches, agents, contact center, Points Of Sales, and other channels)
• Sales Process Management (business process modelling, customer scoring and rating, underwriting, document management, commission)
• Core Systems for:– Insurance (Life and Non Life)– Custody– Factoring and Trade Finance– Investment Management
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OUR CLIENTS
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Title/name of presentation/conference
Krystian Suchodolski, Business Solution Manager, COMARCH
Krystian Suchodolski, Business Solution Manager, COMARCH
www.comarch.com
Thank youThank you