Cync Software’s Factoring Solution can save you time and money by automating manual processes. Cync Factoring offers the ability to monitor activity and critical data anytime, anywhere and on any device. Cync provides real time updates for improved decision making that helps reduce fraud and your overall risk.
Cync’s flexible configuration allows for the creation of multiple fee schedules that are assignable at the client level or uniquely to individual debtors. Invoices are run through a validation process to ensure they meet all acceptance criteria for the client. An e-mail can be automatically sent to a debtor to easily verify invoices online. If needed, ineligible invoices can be researched and overridden. An auto funding feature is also available as long as certain conditions are true.
Cync Factoring covers the entire Portfolio Management process which includes uploading and validating invoices, verification letter tracking, calculating and recording advances as well as reserves and fees. Additionally, it supports cash batch entry, tracks reserve balance activity upon payment processing and has export capabilities to your accounting General Ledger.
All data stored in Cync is available for reporting and analysis. Risk analysis can be done to help make purchasing decisions quick and easy. A dashboard is provided with a snapshot summary of the Factor’s activity. Each section has drill down capabilities to capture details on new invoices, ineligible invoices, funded invoices and more.
All data stored in Cync is available for reporting and analysis. Risk analysis can be done to help make purchasing decisions quick and easy. A dashboard is provided with a snapshot summary of the Factor’s activity. Each section has drill down capabilities to capture details on new invoices, ineligible invoices, funded invoices and more.
