Kaarst, 6 April, 2016. The Austrian Oberbank AG has decided to use FACT.pilot, the special software of fidis GmbH, to assist it in its factoring business. Using FACT.pilot will allow Oberbank AG to fulfill its reporting requirements for factoring. FACT.pilot is a standard software for factoring processes based on SAP. It is developed and maintained by fidis GmbH from Kaarst.
“Today, factoring is a salient feature of corporate business”, explains Claus Retschitzegger of Oberbank AG. “But, here, the costs and risks are high. Using FACT.pilot, we can accelerate the factoring processes and reduce our risk”. Oberbank AG offers factoring services to corporate businesses in South Germany and Austria. “The possibility of conducting its business operations on a single platform internationally is a significant criterion for deciding on this solution”, says the project leader, Silvio Schedenig of Oberbank AG.
The software package also contains a customer portal, a limit management and a rapid PDF identification. Using FACTportal, a web based application, the factoring company and the client can each upload documents on a daily basis. That significantly simplifies communication with the customers. In order to reduce the risk of default, LIMIT.pilot, the integrated limit management system, checks each invoice for its purchasability on the basis of its set limits. On a daily basis, interfaces to the credit insurers feed FACT.pilot with the actual information on the insurance status.
“Under conditions of the insolvency of a factoring client, the open invoices are often rendered worthless”, explains Otto Johannsen, the managing director of fidis GmbH . “By establishing the financing and purchase limits on the basis of the creditworthiness of the customer, factoring companies can significantly reduce this risk. LIMIT.pilot ensures that these limits are automatically and reliably adhered to.”
The DOC.pilot feature allows the factoring company to process PDF documents automatically. This means that they are checked for content as well as necessary information is extracted for further processing. That way, processing of large quantities of invoices that commonly accrue to factoring companies becomes significantly quicker and much more secure.
“The business of financing trade receivables is booming”, as Johannsen puts it. “Whoever is successful here must process large data quantities that rapidly accrue on a daily basis, while ensuring greater safety. A highly automated solution based on SAP is best suited for that”.
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