With the comprehensive functions of the Contract Management solution, financial service providers can handle their contract management and accounting for the available business types, such as sales financing for loans and leasing, purchase financing or factoring. The fully automated processes ensure that all standardized, recurring contract management and accounting processes are carried out without manual intervention and can therefore be processed significantly faster and error-free.
Individual charts of accounts and functionalities for the automated posting of all contract-related income and expenses, receipts and payments as well as deposits and disbursements guarantee complete contract accounting. The automated processing of incoming and outgoing payment transactions and receivables management round off the range of services.
External systems for accounting, reporting and payment transactions are integrated via standardized interfaces. All necessary contract accounting information is transferred to the financial accounting and cost accounting of the general ledger and, if required, to Group accounting. Asset accounting is provided or integrated for the leasing area.
The entire life cycle of a contract, from contract initiation to processing and termination, is mapped in an integrated, web-based system.
The contract management and accounting functions are no longer only carried out by employees of the financial services provider, but are also made available to employees at the point of sale (PoS) as well as the sales force and other partners involved in business processing.
Previous front office and back office functions are mapped for all business types in a consistent, web-based system. This significantly increases efficiency, quality and customer focus and enables successful differentiation in the market.
The solution is designed for high volumes, standardized processes and automated contract management. If required, the system also supports authorized employees with manual processing.
Standardized interfaces are used to integrate standard accounting, reporting and payment systems.
Flexible financial products for specific business types can be provided in the shortest possible time without restrictions between the front and back office.
Country-specific formats are supported; the management of national currencies and exchange rates is an important prerequisite, especially for internationally operating companies.
Several company codes/clients are supported for each transaction type. This includes a separate chart of accounts, separate payment transaction accounts and general ledger accounts for each client, as well as specific export and import functions for payment transactions, general ledger exports and subledger imports.
Parallel accounting in accordance with local and international accounting standards, such as the German Commercial Code (HGB) and International Financial Reporting Standards (IFRS), is possible at any time through account areas in contract accounting. In asset accounting, parallel accounting is realized through the valuation areas imputed, fiscal, local and international.
The automatic function is not tied to fixed batch runs, but can significantly equalize daily business by selecting any execution dates.
The data can be displayed in real time from the perspective of both an individual contract and all contracts.
