FactorSoft is the industry standard in factoring software.
This innovative and complete portfolio management system is ideally suited to
the needs Transportation Factoring.
In addition to the powerful standard features of the
FactorSoft platform, ProfitStars offers several third-party interfaces and add-on modules
that are particularly beneficial to transportation factors.
Add-on Modules that benefit Transportation Factors are:
- The Carrier Payments module expands your ability to factor invoices for
transportation clients by allowing you to advance payments directly to the
carrier and the broker in the form of a “quick-pay”—even paying a portion of
the shipment cost now and the rest when the shipment is delivered.
Load Processor -
Easily manage the details of advance carrier payments (to third-party clients
or a division of the client’s own company) and quickly settle invoices within
FactorSoft. The Load Processor module allows you to create a load in
anticipation of an invoice and advance a portion of the total load/invoice
amount as a fuel advance or other expense to the hauler. Haulers get the cash
they need to do the job, and you pick up additional fees for enabling the
Web - Give
your clients the ability to view their accounts online in near real time with
ClientWeb. This completely customizable online client portal easily integrates
into your existing website to enhance your contact with customers. They’ll love
being able to see their account activity at any hour, run reports, submit
credit and disbursement requests, and upload purchases and debtors directly
AutoCredit - Set
business rules for credit limits to automate the approval process with
AutoCredit. When combined with ClientWeb, this add-on module enables you to
deliver anytime, online approvals on known debtors—particularly beneficial
during off hours, when drivers make the majority of their hauling decisions.
Third-Party Interfaces that benefit Transportation Factors
OnPARR - Paying
agents now account for over 30% of all monies transacted by the transportation
industry. The OnPARR interface from Gallium Technologies takes advantage of
this electronic relationship to deliver automated A/R tracking to your lending
Ensuring the quality of the carriers and brokers you lend to is vital to your
business. The SafeWatch interface monitors carriers for compliance, notifies
you of critical changes you deem important, and captures them in FactorSoft,
letting you flag problem carriers, document your due diligence, and better
protect your business.
Without leaving FactorSoft, you can initiate credit searches with your choice
of several credit monitoring partners, request the necessary clarifications,
and receive a credit score and/or credit report.