How to optimize factoring agreement management with SOFT4Factoring?

Factoring is an area of financing which is quite difficult to manage and overlook. It’s quite demanding in terms of both competence and administrative resources. With non-recourse factoring (loans), your organization has to be ready to go that extra mile in order to pursue that payment which is late or re-negotiate the terms for certain projects, etc. It’s really difficult to oversee everything and optimize processes, but with the help of dedicated software solutions, day-to-day and occasional tasks become that much easier. In this article, we’ll focus on the area of factoring agreement management and how dedicated factoring management software – SOFT4Factoring helps with the optimization of this process. Let’s begin!

What is SOFT4Factoring?

SOFT4Factoring is a software which is tailored to meet the business needs of clients who offer factoring services. The application is based on the Microsoft Dynamics platform which means that anyone who’s at least a bit familiar with the Microsoft Office suite applications (Excel, Word, Outlook, etc.) will have a simple transition to this system.

The program is developed by finance-sector professionals with more than a decade of experience and can also be individually tailored to meet the needs of your organization. It’s a software that helps automate every day-to-day and occasional tasks related to factoring contract agreement management and much, much more.

SOFT4Factoring has been embraced by business all over the world. It’s cloud-based, so you can implement it into your operations without any significant downtime or expensive transitioning. Due to the fact that it’s embraced by a global audience, the team behind the software can continuously improve and upgrade it, supplying an all-around and versatile package that meets even the highest demands of factoring businesses.

The software is rich with numerous features which include automated calculation, multi currency support, our already mentioned factoring contract agreement management as well as many more.

How does SOFT4Factoring help with factoring agreement management?

You can’t deny the fact that agreement management leaves a very long paper trail. Keeping tabs on every single alteration, change, input or review is very challenging if you don’t have a centralized database where you can monitor what and when has been done. With SOFT4Factoring, management of new and existing factoring agreement documents becomes much easier.

With regards to factoring agreement management, we have to first discuss, what kind of matters and areas of your business does this particular field concern. Well, factoring agreements are in the middle of legal and business issues which means that managing documents for any financing factoring agreement requires thorough knowledge of the field in and out. Every contract needs to be overlooked, checked, re-evaluated periodically and changed, if need may be. Or do they?

With SOFT4Factoring, you can prepare documents, change statuses and update information from one centralized point. The access to all data regarding any factoring for receivables agreement is right at the fingertips of your staff, which, according to case studies and client’s reviews – help save up to 4 hours of time per week.

How quickly can this software be implemented in your day-to-day operations?

As mentioned before, the transition to SOFT4Factoring could and will likely be quite straightforward and fuss-free. That’s not only because the software is so reminiscent of the Microsoft Office apps, used by businesses all over the world. In addition to being based and developed on the MS Dynamics (Navision) platform, SOFT4 Factoring can be quickly launched and utilized to the fullest extent.

Before you make the purchase, however, don’t forget to make the most of live demos or trial versions. These two options help you and your staff familiarize themselves with the new program environment. As a responsible service provider, the team at SOFT4 will conduct training to help your staff get up-to-speed with factoring agreement and management of other important areas.

During the live demo, you can ask questions and see how the software works in real-life conditions, helping your organization members see the actual benefits it can bring. Usually, the set-up of the platform is done quickly and commercial subjects can begin using their brand new factoring software after a few days or weeks (if they have extra requirements).

Thanks to the cloud-based access, you don’t need to hire expensive IT staff for support. Everything on the technical end is handled by the developer. Per request, they can even develop and introduce brand new modules, made specifically for your business. And speaking of software made specifically for your business…

The platform can grow with you

SOFT4Factoring is a software solution that’s both versatile and adaptable. Templates and functions in the application will be tailored to suit your market tendencies and to help you get the most out of them right from the get-go.

SOFT4Factoring is also usable for small, medium-sized and large organizations alike. Regardless of your company’s size, you can add new data, manage existing or past records and keep everything running smoothly, with regards to new leads from your own end or from 3^rd party brokerages. Factoring is a service that can grow in demand, as your business grows. This particular software is ready to curb the challenge and you can give access to various new staff members to ensure maximum productivity as demands and needs on your end increase.

Conclusion

Since every market is slightly different with the details of factoring agreements, we didn’t cover too much legal items because what’s applicable in other countries, might not work in yours. All we can say is that SOFT4Factoring is a great tool that helps simplify a handful of tasks, related to factoring management, including factoring agreements. From both a legal and financial standpoint, you can add new records, change them, alter the status, assign tasks and reach a whole new level of process optimization along the way!