We are looking for a Factoring Management Application that is or can be integrated with the Acumatica ERP. If you or your client are also looking into this, please let me know. We can work together and save money.
Our client is implementing the Acumatica ERP. The client uses currently factoring that provides them a loan against their customer invoices. Because the client has to order their materials from China three to four months ahead of their sales order or demand, they need money to bridge that waiting time for sales orders.
When the client creates a sales order, the sales order amount is submitted to the factoring company via the factoring private website/portal. If the factoring company approves the submitted sales order amount, only then will our client start the shipment of goods for that approved sales order..
The basic steps of the application should have the following features:
- Mark all the customers for which customer invoices are factored
- For a given sales order, check if the customer has been approved for factoring
- If so, get the approval from the factoring private portal for the specific sales order amount.
- If the sales order amount has been approved, enable shipment for that sales order. I guess we may disable all shipments by default since 90% of the sales order go through factoring.
If Acumatica ISV developers are interested in developing such an application, please contact me at:
ASix@inteltech.com . Toon Six
Hi Every Factoring client:
I have to add the process of getting a customer invoice approved by the factoring company. For some factoring companies you have to go to their portal, submit a request for approval for a particular customer invoice using your customer factoring number and some other information. Once you have been approved, which may take a day, then you should proceed with the shipment of the product to the customer.
A connector using APIs. is needed to have Acumatica communicate with the factoring company, I have to find out which factoring software is mostly used.
If you have any experience with such a connector for Acumatica, please let me know. Thanks.
ToonSIx@intercs.com or ASix@inteltech.com
I don’t see any replies here, but I am interested to know as well.