PROFINANCE

The Financing product line module enables the management of various types of financing for amortisable financial products such as leases or loans for both asset based (secured) and unsecured lending arrangements.

New business

This function enables the production of new financing contracts based on 2 modes with similar rules of control: 

• Automatically via the integration of external data files transferred from external business partner systems. This process includes the ability to process and recycle exceptions (e.g. erroneous data or data exceeding the granted credit limit) using pre-defined manual work-queues.
• Manual production of financing contracts against established parameters defined within the financial product.  The flexible design of the financial products allows policy rules to be pre-defined and certain rules to be overridden by the user at the point of input.

The new financing process is controlled by the financial product parameters with flexibility provided for certain business types for certain users

ProFinance functionality includes:

• Control of the credit authorisation process subject to pre-defined levels
• Automated input of certain characteristics of the contract of financing (asset/collateral, customer, contributor, financial product, services etc.)
• Automated financial calculations relating to the price (rate, spread, costs, services) 
• Generate the cash flows and repayment schedules including breakdown of capital, interest, fees and services for each of the payers of the contract (customer, contributor, partner)

Contract relationship management

ProFinance incorporates a user-friendly, easily navigable customer service module for handling customer queries and managing loan contracts

The operator can easily access the relevant pages and data tabs for a customer an/or loan contract allowing them to quickly answer customer queries.  Features include:

• Search and display of customer, credit line and contract information including outstanding balances and arrears ageing
  • Detailed asset and collateral information
  • Cash flow and accounting event drill-down (sub-ledger)
• Simulation and validation of after sales contract management functions:
  • Contract restructuring
  • Credit notes
  • Early settlement
  • Partial payment
  • Postponed payment
• Standard common ProFinance back-office functions are available for managing financing products as follows:
  • Payment management
  • Arrears and collections
  • Accounting 
  • Reporting
  • Letter and document generation
  • Workflow and notes functionality

ProFinance provides all the necessary tools for effective customer relationship management

Collection management

The collection module allows the collection manager to define a strategy for the collection activity to be applied by portfolio company or product line. Based on the policies of the strategy, individual arrears cases can be automatically worked based on the pre-defined rules and/or manually handled via the user defined collection work queues and arrangement to pay functionality.

The collection manager can easily define the collection strategy for handling arrears cases automatically and assign manual cases

The collections module is supported by flexible, configurable document and letter generation, notes and fee charging functions that allow letters and fees to be automatically triggered based on certain events.