The invoices submitted for purchase are automatically checked against the purchase criteria. The credit line set up for the debtor and other purchase criteria (e.g. sector or country, invoice amount) are automatically checked and the decision is immediately fed back into the factoring client's customer portal. A further check of the invoice and subsequent posting takes place via the integrated invoice management.
Purchase criteria
In addition to checking the invoice against the agreed limit, further purchase criteria can be checked that prevent automated processing and booking of the invoice. These include, for example, the sector, the amount of the invoice and other individually definable criteria.
Connection of trade credit insurance
Trade credit insurance can also be connected and queried as part of the decision-making process. The solution supports various providers such as Coface or Atradius via standard APIs.
Determining the payout amount
After a successful purchase check, the system determines the initial payout amount and the factoring fee on the basis of the agreement between the factoring company and the customer.
Posting of invoices
All resulting payments are transferred to the factoring contract management system, where automated payment instructions are generated and executed.