Factoring

Invoice finance is a common cause of poor cash flow in businesses that result in them applying to financial institutions for assistance. As a result, businesses expect factoring to be smooth and efficient. For financial institutions offering factoring services, reliable software solutions are vital. Our time-tested software system allows you to successfully provide high quality factoring services to your clients.

What is Factoring?

Factoring is a service provided by a financial institution, namely a bank or factoring company to a business. The factoring company will facilitate the payment of working capital and accounts receivable to a third party in order to provide a business with immediate cash. This is common practice for businesses who are dealing with cash flow problems or a large number of late invoices.



Why choose CREDITONLINE as your factoring software provider?

CREDITONLINE factoring software is based on a reliable loan business management system, recognised by the financial sector professionals. Here are just some of the benefits that come with using CREDITONLINE’s factoring system:

  • Guarantees safety and reduces risk as our system uses electronic signatures and complies with safety legislation.
  • Faster communication between all parties.
  • Reduced labour costs for document processing as documents will not need to be printed or manually processed.
  • Faster factoring processes as much of the process can be automated and takes just a few clicks.

What features are available with CREDITONLINE’s factoring system?

Our factoring system has many features to streamline the factoring process for both you and your customers, here are just a few:

  • Automatic control of factoring tractions as our system uses electronic signatures and complies with all safety criteria to avoid forgery and other difficulties that may arise from handling documents.
  • Automated communication that informs all parties about the process of debt assignment and sends a message to confirm the transaction.
  • Electronic form filling to speed up the process.
  • Automates the transmission and validation of monetary claim documents.
  • Functionality to allow product providers to upload a package of electronic documents.
  • Automatic client solvency assessment function to allow for quick decision making on invoice financing.
  • Uses a web interface that provides universal access to the factoring system from any device with an internet connection.

These features and benefits are why CREDITONLINE’s factoring system guarantees smooth and efficient business financing for banks, factoring companies and other financial institutions. If you would like to find out more about our factoring solutions, then please book a free demo or contact our team.

Frequently Asked Questions

Are there any limitations to who can use factoring?
There are no limitations to who can use factoring. Whether it's a company or an individual, everyone is welcome and everyone has the ability to use factoring.
HCan automatic reminders be sent using your software?
Yes, you can automate communications with your customers using our communications module. Find out about our other marketing and communication modules on our features/modules page.
Is there a limit to the size of invoice your software can process? E.g. £100,000
At CreditOnline we don't like limits or boundaries, therefore just like most of our products, there is no monetary limit to the size of invoices our software can process.