Factoring Business Platform

Fields of Application

Commercial factoring companies, financial holding groups, and commercial banks

Solution Overview

The functions of the Beiming Software’s Factoring Business System cover various product forms of the factoring business. It supports the entire process of financing factoring, supply chain factoring, inclusive factoring, and other links. It also covers customer management, quota management, business processing, contract management, risk management, product management, accounting management, etc.
The system can support all online operations of the supply chain factoring business, including, online enterprise registration and account opening, user login, maintenance and confirmation of basic assets, initiation and approval of financing, processing status inquiry, and post-loan processing. At the same time, various processes, business management and control conditions, risk identification conditions, credit evaluation models, accounting rules, etc. in the system should support parametric configuration. System administrators can flexibly configure and adjust parameters through the functionalities of the system. The system can provide maximum business flexibility and convenience.

Solution Highlights

1. 1. Complete functions and unified management

The functional modules of the Factoring Business Platform are designed according to the specific functional requirements of the factoring business, which can effectively ensure the complete connection of the system functions. At the same time, the system has set up a standardized information template under the accounts receivable management, factoring business accounts, and other configurations, established a unified factoring account system, comprehensively managed all kinds of factoring business accounts, and realized the standardization of business accounting and management data.

1. 2. Open system and flexible integration

The system has a special API frontend platform, which is responsible for API access and forwarding of internal and external systems. Through the frontend platform, the system can uniformly process access requests within the front-end channels, external systems, and system components, and complete the system's standardized services to the outside world.

1. 3. Debt diversification and data synchronization

The system supports a variety of different debt confirmation processes, such as procurement contracts, invoices, orders, warehousing orders, payment promises, etc. Enterprises can set up different information templates and financing ratios according to the debts at different stages to achieve parameterized and modeled debt support. In terms of debt information entry, the system can set up information entry, confirmation, and permission by both buyers and sellers according to the characteristics of different products and partners. It also supports the batch confirmation and data import of core enterprises and supports the integration with the core enterprises’ ERP systems to automatically synchronize the receivables information of the supply chain.

1. 4. Data visualization and external resources

The system supports a variety of data visualization forms. Through the form of customer view and business view, customer information, customer relationship, customer risk status, and other information are visually displayed. At the same time, it supports integration with external data sources to effectively supplement customer information.

Solution Architecture

The design of the factoring business system architecture follows the J2EE architecture design principles and specifications. The system adopts a unified technology platform, based on the distributed micro-services architecture model. The API design is standardized, and multi-channel support is provided. At the same time, the system has perfect log management, exception handling mechanism functions, and the overall security policy is designed and implemented.

Business Value

The Factoring Business Platform has fully drawn on the mature business models and successful industry practices of the commercial factoring industry at home and abroad as well as the experience of Beiming Software in the financial industry, especially in the field of factoring business. Its functions cover a variety of business models such as positive factoring, reverse factoring, 1 + N supply chain factoring, and pool factoring. It provides functional support for the whole life cycle of the factoring business. Through online, digital, and intelligent system function design, it can improve the business efficiency of the tenderer and facilitate business development. The platform provides system construction services for commercial factoring companies, large financial holding groups, and commercial banks to help customers realize the platform-based management of various factoring businesses and the online operation of key business links such as customer access, quota management, asset authorization, and ledger management.

Successful Cases

The Factoring Business System of Haier Finance Company