Cync Factoring

Why Lenders Choose Factoring

Cync Software®’s Factoring solution saves lenders time and money by automating manual processes. Factoring offers the ability to monitor activity and critical data anytime, anywhere, and on any device, providing real-time updates for improved decision-making and helping reduce fraud and overall risk.

Cync Factoring’s flexible configuration allows lenders to create multiple fee schedules and assign them at the client level or assign them uniquely to individual debtors. Invoices are run through a validation process to ensure they meet all acceptance criteria for the clients. E-mails can be customized and automatically sent to a debtor to easily verify invoices and, if needed, ineligible invoices can be researched and overridden. An auto-funding feature is also available, allowing lenders to set up custom configurations that will automatically approve an invoice, as long as the conditions for auto-funding are met.

Cync Software®’s Factoring solution will save you time and money by automating the process of buying, validating, and collecting on invoices. Combined with the ability to monitor activity and critical data anytime, anywhere, on any device with real-time updates, Cync Factoring streamlines the decision-making process and helps to reduce fraud and overall risk.

Cync Factoring covers the entire Portfolio Management process, which includes uploading and validating invoices, verification letter tracking, and calculating and recording advances, reserves, and fees. Cync Factoring supports cash batch entry, tracks reserve balance activity upon payment processing, and has export capabilities to accounting General Ledgers.

All data stored in Cync Factoring is available for reporting and analysis. Risk analysis can be done to help make purchasing decisions quick and easy. The provided dashboards give a snapshot summary of the activity in Cync Factoring. Each section of the dashboard has drill-down capabilities to capture details on new invoices, ineligible invoices, funded invoices, and more.

Schedule a demo today to see Cync Software®’s Factoring features in action by calling 1-855-367-2962 or by completing the form.

Automation & Productivity

Cync Software®’s Factoring application automates both recourse and non-recourse factoring, covering portfolio management from beginning to end. The automatic invoice validation manages risk and, with all invoices collected in a central location, gives the ability to attach multiple documents and images to specific invoices, with a robust document management system for easy retrieval of uploaded documents. Cash receipt applications can even be managed by directly uploading the images to the application. The commenting system allows lenders to record comments with any additional information that may be needed and tracks all of those comments for each invoice or application throughout the lifecycle of the processes.

Cync Factoring also offers collection ticklers for follow-up actions, gives lenders the ability to manage invoice discounting and broker commissions, and offers a credit queue to monitor and manage the status of invoices in process. Lenders can process and track letters and even export the general ledger. The Client Portal allows customers to quickly and easily manage invoices and payments.

Digitizing all of the information and collecting it in a centralized location allows Factoring to offer more robust reporting and analysis. Users can view and customize reports and visualizations for new invoices, ineligible invoices, funded invoices, and more, with the ability to easily print reports as needed.

Cync Factoring Integrations

Factoring integrates with different services to allow customer data to be safely and securely transferred into the application.

DocuSign Electronic Signature

By integrating with the Cync Factoring, Docusign gives lenders the ability to send documents to customers for review and electronic signature without having to go through the hassle of printing and mailing physical copies. Docusign allows lenders to manage electronic agreements with borrowers, guarantors, or other entities.

Quickbooks Integration

This integration allows lenders to fetch invoices from their Quickbooks account and import them directly into Cync. Customers can easily connect to the Quickbooks application in just a few minutes without waiting days or weeks to code a custom connection.

Security Features

The Cync Software® Application Suite is a SOC2-certified application that is hosted on Amazon Web Services (AWS). AWS is an Infrastructure as a service (IaaS) provider, which is highly available, scalable, and fault tolerant.

View Cync Software^® Security Information

• Independently SOC 2 Certified
• Amazon Web Services (AWS) Certifications
  • ISO 27001, 27017 and 27018
  • PCI DSS for S3, EBS, VPC, RDS, ELB, IAM
  • FISMA Moderate Compliant Controls
  • HIPAA & ITAR Compliant Architecture
• Auditable infrastructure
• Encrypted URL
• AWS platform is monitored 24/7
• Disaster recovery plan
• Single Sign-On (SSO)