Automated contract management and accounting in the leasing business
Munich, October 21, 2009 - The Stuttgart-based FFS Group is introducing the administration module for the sales financing of leasing contracts of the afb Credit Management Solution.The automotive financial services provider uses it to automate contract management and accounting, dunning and accounting as well as controlling in sales leasing.
"With the module for leasing contract management, we will use the afb Credit Management Solution on a full scale and close an important IT gap," comments Rudolf F. Wohlfarth, CEO of FFS Bank and Head of the FFS Group. The Group has been using afb as its core system for the credit and leasing business since 1999. FFS expects the new contract management module to deliver greater synergies and customer proximity as well as more efficient processes at lower operating costs.
For example, employees of the FFS Group or in the car dealership enter the contract data once in the afb Credit Management Solution. When an internal clerk finally approves a leasing transaction, the afb solution automatically transfers the relevant process to the new contract management module. The customer and contract data is then available in a central database for retrieval for a wide range of tasks in contract management, receivables management and controlling.
With the extensive administration functions, FFS Group financial accountants can monitor all payment flows via the integrated sub-ledger, among other things. Repayment and installment plans for debtors can be adjusted as part of account management and automated redemption processes can be initiated immediately. Limits are managed flexibly in the accounts payable area.
The afb Credit Management Solution automates the entire life cycle of purchase financing, sales financing and sales leasing for private and commercial customers at the FFS Group.
The complete solution supports all processes from application, decision and processing to value date and contract management. "For a decade now, afb has formed the basis for customer proximity, process automation and cost efficiency at the FFS Group," summarizes Wohlfarth.
Profile afb Application Services AG
Founded in 1995, afb Application Services AG optimizes complete business processes in the lending area of banks and leasing companies. State-of-the-art IT solutions based on Application Service Providing enable the automation of the entire lending process - from the application to the fully automated credit decision, processing and contract management. Applications from the Munich-based company are now used internationally: Well-known customers from the financial services sector generate significant parts of their turnover with afb solutions. Among the best known are BANK-now (Credit Suisse, CH), cashgate (CH), FFS Bank, GE Money Bank, General Motors Acceptance Corporation (D, A, CH, PL), Honda Bank and Santander Consumer Bank S.A. (Poland).
