Tailor-made and without the additional cost of specialised software. This is the main benefit of the SAP Business One add-on solution designed for companies providing factoring services.
„We tried to create a solution that would not place additional demands on the software and hardware infrastructure. On the contrary, it will be part of a tool that is popular and widely used. SAP Business One is the logical choice in this respect. I am glad that we were able to make a fully compatible and comprehensive superstructure for the factoring area in this environment, which brings significant cost savings to customers,“ said Ing. Miroslav Michálek, SAP product manager from SOFTIP.
The main functionalities of the solution include the registration of factoring contracts, including various types of amendments, tracking of balances, fees or limit drawdowns. This applies, of course, to different types of factoring, customer financing and receivables management.
There is also the registration of insurance limits of insurance companies and the creation of reports for them, various accounts receivable and banking operations and accounting - that is, the automatic creation of an accounting entry for each factoring operation. Monthly closing automatically generates invoices to clients for all services rendered. Of course, there is reporting to monitor the development of all important indicators.
Records of factoring contracts, including amendments
Automatic generation of invoices for services rendered
Automatic generation of emails from individual operations
New service portal for clients
We have automated several operations. An example is the automatic generation of emails in the night hours with outputs in PDF format from individual accounts receivable operations. Electronic exchange of documents from clients is also integrated.
The next step in the delivery of a comprehensive solution was the creation of a portal for PB Financial Services clients. Here, clients can obtain information on the current status of factoring contracts, the status of debtors' receivables and client liabilities, as well as a complete overview of documents of acceptances, calls, withdrawals, notices, or other factoring movements. Clients can export all documents to various reports or obtain the original document in PDF format.
Finance
SAP Business One
This decision had a positive financial impact, as existing solutions for large companies were significantly more expensive than the resources PBFS invested in development.
Vladimír Potúček
PB Financial Services, a.s.
Member of the Board of Directors
The world's most widely used enterprise information system for small and medium-sized companies provides a comprehensive solution for managing the entire enterprise - from sales and service through customer relationship management to financial and operational aspects.
Consultant Specialist
SAP Business One