High-quality Factoring Software - Reasons To Own


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The presentation tells more about what are the reasons to own contemporary factoring software. It shows benefits and newest IT trends in the factoring industry.

It has been presented at the factoring conference in Vienna, 2009: "Optimising factoring products and services".

You can read more about challenges & problems related to factoring software and solutions on the website:

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High-quality Factoring Software - Reasons To Own

  1. 1. HTTP://FACTORING.COMARCH.COM Vienna, Optimising Factoring Products and Services 14-15th of May 200 9 REASONS TO OWN HIGH-QUALITY FACTORING SOFTWARE
  2. 2. SUMMARY <ul><li>Corporate profile </li></ul>ELEMENTS AFFECTING YOUR COMPETITIVENESS <ul><li>Automation of business processes </li></ul><ul><li>Cutting opeational costs </li></ul><ul><li>E-invoives </li></ul><ul><li>Instant money funding </li></ul><ul><li>Reacting to market changes </li></ul><ul><li>Internet </li></ul>HTTP://FACTORING.COMARCH.COM
  4. 4. TO SPARE TIME & STREAMLINE FLOWS <ul><li>EFFICIENT COMMUNICATION MODULE STREAMLINING FLOW OF INFORMATION AND THE DAY-TO-DAY WORK </li></ul><ul><ul><li>Infomation sent to factor employees, clients and their customers </li></ul></ul><ul><ul><li>Different communications channels (FAX, SMS, EMAIL, INBOX) </li></ul></ul><ul><ul><li>Communication module affecting every aspect of the daily work: </li></ul></ul><ul><ul><ul><li>Financing </li></ul></ul></ul><ul><ul><ul><li>Repayment settling </li></ul></ul></ul><ul><ul><ul><li>A/R Monitoring </li></ul></ul></ul><ul><ul><ul><li>Risk management </li></ul></ul></ul><ul><ul><ul><li>Insurances/Claims </li></ul></ul></ul><ul><ul><ul><li>others </li></ul></ul></ul>WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL HTTP://FACTORING.COMARCH.COM
  5. 5. TO MAKE YOU FLEXIBLE <ul><li>Customization of business processes for each client and their customers </li></ul><ul><ul><li>Such approach helps treat your clients individually </li></ul></ul><ul><ul><li>Reduction of operational costs thanks to the automation of business processes of clients that we trust and have not had problems with </li></ul></ul><ul><ul><li>Ability to change your approach anytime against any client </li></ul></ul>WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL HTTP://FACTORING.COMARCH.COM
  6. 6. TO BE HIGHLY COMPETITIVE CUSTOMIZABLE PRODUCT WIZARDS allowing you to create any factoring product and modify it in many ways WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL <ul><li>2-stage product definition </li></ul><ul><li>Handy wizards used on both stages </li></ul><ul><li>Hundreds of parametrs and possibilities </li></ul>Individual approach to each client HTTP://FACTORING.COMARCH.COM
  7. 7. TO BE UNIVERSAL WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL <ul><li>Modularity of the platform ensures quick & easy deployment of new functionalities and modules </li></ul><ul><li>Software provider should constantly monitor the market and adapt its software to new conditions </li></ul>IN AN ENVIRONMENT OF FIERCE COMPETITION CHANGES AND NEW TRENDS ON THE MARKET NEED TO BE QUICKLY REFLECTED IN YOUR FACTORING SOFTWARE HTTP://FACTORING.COMARCH.COM
  8. 8. TO KEEP UP WITH THE TIMES The system designed using the latest available web based technologies – it is your prestige and client satisfaction WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL <ul><li>Access to the platform any time from any place </li></ul><ul><li>Fully web based </li></ul><ul><li>Modern look&feel </li></ul><ul><li>Usefull functionalities made available for your clients </li></ul><ul><li>State-of-the-art protection mechanisms to make your client feel more comfortable </li></ul>HTTP://FACTORING.COMARCH.COM
  9. 9. TO SPEED MONEY TRANSFER (1) <ul><li>Time-consuming (depending on the factoring company it usually takes one or more days to transfer funds) </li></ul><ul><li>Emploees’ interferece required in order to make payment to client’s current account </li></ul><ul><li>Good approach for new clients, or clients whose verfication is showing first signs of inferior financial condition </li></ul><ul><li>Loss of money & time when applying this approach to clients we cooperate with for years without any problems and frauds </li></ul>USUAL APPROACH (Manual request processing) WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL HTTP://FACTORING.COMARCH.COM
  10. 10. ANOTHER APPROACH (Automation of request procesing) <ul><li>Full automation of this process and the ability to assign individual funding conditions to each client. </li></ul><ul><li>Money on client’s current account within one hour from the invoice submission through client’s web portal </li></ul><ul><li>ASSUMPTIONS: </li></ul><ul><ul><li>Client’s current account is held in the same bank which is factoring client’s invoices </li></ul></ul><ul><ul><li>Payment processing is done efficiently by cooperating banking systems </li></ul></ul><ul><li>Payment made to accounts held in another banks done with delay due to the need to transfer money through Bank Wires (SWIFT, others) </li></ul><ul><li>Great approach for clients we trust and have not had problems with so far. </li></ul><ul><li>It leads to operational costs reduction and improving client satisfaction </li></ul><ul><li>Required periodical client verification </li></ul>WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL TO SPEED MONEY TRANSFER (2) HTTP://FACTORING.COMARCH.COM
  11. 11. TO GET A BETTER MARKET SHARE WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL 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 <ul><li>Comarch ECOD platform serves as an EDI system, that has been integrated with Comarch Factoring TM </li></ul><ul><li>ECOD is used by 7500 clients in Europe and the number is constantly increasing </li></ul>HTTP://FACTORING.COMARCH.COM
  12. 12. EDI & FACTORING WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL SIMPLE PROCESS OF FINANCING E-INVOICES RECEIVED THROUGH EDI INTERFACE <ul><li>Invoice generation </li></ul><ul><li>Invoice sent to a Customer through EDI platform </li></ul>3. Invoice received through EDI platform 4. Copy of the invoice received through EDI interface 5. Receiving the invoice approval and financing it HTTP://FACTORING.COMARCH.COM
  13. 13. EDI & REVERSE FACTORING WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL 1. Invoice generation 2. 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) HTTP://FACTORING.COMARCH.COM
  14. 14. TO MAKE YOUR LIFE SIMPLER by ADAPTATION of AUTOMATION MECHANISMS <ul><li>Invoice purchase, request approval, funds transfer </li></ul><ul><li>Repayment processing (FIFO, custom) </li></ul><ul><li>Monitoring of A/R, notification management </li></ul><ul><li>Management of A/R, calculating fees, charges and interest </li></ul><ul><li>Management of outstanding A/R, Collections </li></ul><ul><li>Recourse </li></ul><ul><li>Partial invoice purchase </li></ul><ul><li>Operational start and end of each working day </li></ul>HTTP://FACTORING.COMARCH.COM
  15. 15. TO HAVE YOUR BUSINESS UNDER FULL CONTROL <ul><li>Coverage of all business processes in your factoring organization </li></ul><ul><li>Expanded reporting module </li></ul><ul><li>Expanded notification module </li></ul>HTTP://FACTORING.COMARCH.COM
  16. 16. TO ENSURE SAFETY <ul><ul><li>PROTECTION MECHANISMS </li></ul></ul><ul><ul><li>HTTPS Protocol (SSL 2.0/3.0) </li></ul></ul><ul><ul><li>Login & password </li></ul></ul><ul><ul><li>Tokens </li></ul></ul><ul><ul><li>Full support for PKI managament </li></ul></ul><ul><ul><li>Site certificates </li></ul></ul><ul><ul><li>Microprocessor cards with PKI for user authentication and authorisation of transactions </li></ul></ul>TO MAKE YOUR CLIENTS FEEL COMFORTABLE HTTP://FACTORING.COMARCH.COM
  17. 17. Real-life example (DnB NORD) 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 <ul><li>Repayment processing automation </li></ul><ul><li>New sources of invoice submission </li></ul><ul><li>Web-based portals for clients </li></ul><ul><li>Money transfer within one hour for the invoice submission in the client portal </li></ul><ul><li>Automation of A/R Monitoring and collection remainders </li></ul>BENEFITS HTTP://FACTORING.COMARCH.COM Year Turnover 2005 app. 80 000 000 PLN 2006 97 700 000 PLN 2007 303 000 000 PLN 2008 632 000 000 PLN
  18. 18. www.comarch.com PART 7. COMARCH - CORPORATE PROFILE
  19. 19. COMARCH TODAY <ul><li>Leading software house in CEE </li></ul><ul><li>Rich product portfolio for banking, insurance & capital markets </li></ul><ul><li>2000–2008 dynamic growth of: </li></ul><ul><ul><li>Revenues </li></ul></ul><ul><ul><li>Profits </li></ul></ul><ul><ul><li>Employment </li></ul></ul><ul><li>Present market capitalization reaches : 160 mln EUR </li></ul><ul><li>Invesments in R&D ( 15% of revenues ) </li></ul>REVENUE & NET PROFIT R&D Investments WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL HTTP://FACTORING.COMARCH.COM
  20. 20. COMARCH as a GLOBAL PLAYER <ul><li>Software export: </li></ul><ul><ul><li>S oftware & services to international corporations </li></ul></ul><ul><ul><li>Customers on 4 continents in more than 20 countries </li></ul></ul><ul><ul><li>Over 3 000 successfully completed projects </li></ul></ul><ul><li>European headquarters - Dresden, Germany </li></ul><ul><li>Middle East subsidiary monitors activities in the developing markets </li></ul><ul><li>Activity in the Americas </li></ul>WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL HTTP://FACTORING.COMARCH.COM
  21. 21. COMARCH FOR FINANCIAL SECTOR – areas of focus <ul><li>Internet Banking (all financial products and services, mobile included) </li></ul><ul><li>Customer Service (CRM, branches, agents, contact center, Points Of Sales, and other channels) </li></ul><ul><li>Sales Process Management (business process modelling, customer scoring and rating, underwriting, document management, commission) </li></ul><ul><li>Core Systems for: </li></ul><ul><ul><li>Insurance (Life and Non Life) </li></ul></ul><ul><ul><li>Custody </li></ul></ul><ul><ul><li>Factoring and Trade Finance </li></ul></ul><ul><ul><li>Investment Management </li></ul></ul>WWW.COMARCH.EU | WWW.COMARCH.DE | WWW.COMARCH.RU | WWW.COMARCH.PL HTTP://FACTORING.COMARCH.COM
  23. 23. Krystian Suchodolski, Business Solution Manager, COMARCH [email_address] www.comarch.com Thank you