Starting point

The tightened credit standards triggered by the financial crisis force a growing number of companies to use their accounts receivable as a means of securing their liquidity. Many companies look to factoring as an alternative form of financing to meet their liquidity requirements in the face of tightened lending standards of banks.

Challenge

Concluding a factoring contract, however, calls for well-coordinated processes since the management of factoring processes puts an added strain on a company’s accounting department. There is, for instance, a great deal of effort involved in communicating with factor and in the posting processes of factoring transactions:

• Compiling list of receivables to be sold
• Communication with the factor
• Manual management of follow-up processes (e.g. management of accounts receivable pledging indicators, value adjustment ...)
• No automatic posting of factoring transactions in SAP
• No status update in SAP
• No SAP reporting options for the receivables portfolio placed with the factor
• ...

Solution

SOPLEX FL – the SAP factoring management software by SOPLEX

This SAP solution allows you to organize and manage the complete factoring process in your SAP system.

• Support of all factoring types (disclosed, undisclosed ...)
• Flexible choice of factor(s)
• Integration of different factoring companies
• The complete process is managed within SAP
• Automatic file transfer to the factor
• Status updates
• Integration into the customer master record and customer line item display
• Integration of the SAP e-mail functions
• Integration of e-mail functions
• Interfaces to other systems, such as SAP BW, dispute management …, can be implemented

Features

SOPLEX FL – modern factoring management with SAP

• File management
• Manual creation of individual files
• Automatic creation of mass files from FI-AR
• Automatic compilation and transfer of the receivables
• Automatic import of decisions from the factor
• Status monitoring
• Workflow for automated processes
• Payments received from the factor are posted automatically and open items are cleared
• Automatic posting of the complete factoring transaction
• Automatic control of follow-up processes (e.g. blocking customers or orders)
• Control of deadlines, events, and resubmissions
• Automatic task control
• User worklists
• FL information system – reports by the click of a button

Business impact

SOPLEX FL is the SAP solution for integrating different factors of your choice.

• Flexible choice of factor(s)
• Full process transparency in SAP
• Streamlining administrative processes
• Reduced effort for routine processes
• Comprehensive reporting tools
• Reduced effort for factoring processes

Technology

SOPLEX FL is add-in software for SAP

• Own namespace
• Programming language ABAP/4
• No modification of the SAP system
• Implementation via SAP transports
• Multilingual versions
• No additional hardware required
• No third-party software required
• SAP authorization concept
• Easy to implement