Solutions Comarch Factoring Platform - SME Banking Conference

Comarch Factoring Platform

Transform Your Factoring Process: Discover User-Friendly Software for Banks and Factoring Companies

Comarch Factoring Platform is a web-based solution designed to deliver end-to-end transaction processing for factoring companies and banks offering factoring services. It integrates a dedicated tool for customer service, an advanced settlement engine, and multichannel access to factoring services. System design mainly incorporates assumptions based on which all the business processes can be managed and customized to meet specific clients’ needs.

The product has been developed in its new shape from mid-2020. In 2021 the promotion of new version of the solution has been started. In effect, during 2022 we signed two new contracts for the solution implementation in its revised version.

Comarch Factorng Platform supports all major factoring products.

Below you can see the list of fundamental factoring products supported by Comarch Factoring.

Advanced, full service factoring
Maturity factoring
Data factoring
Reverse factoring, Supplier finance
Invoice discounting/in-house factoring
Receivables management without financing (Incasso)
Recourse/non–recourse; part/multi-part/full financed; disclosed/undisclosed;
domestic/International factoring
Islamic factoring.

Designed to help banks and factor manage factoring processes easier than ever.

Comarch Factoring Platform is developed in an agile and highly iterative manner, and the approach to its design has a comprehensive dimension. It involves close cooperation in the form of workshops to exchange knowledge with the client, the product owner, the analysts, the production team, as well as usability tests (conducted with the involvement of end clients) allowing for a quick verification of a.o. design hypotheses.

Efficiency Meets Simplicity: Future-proof Factoring Software for Banks and Factoring Companies.

a) Modular system structure based on microservices

The modern software approach is no longer based on a monolith. The microservice-based architecture of the system allows banks and factors to continuously improve the system and adapt it to market needs easier. Also upgrading one microservice won’t affect the availability of other microservices, which allows the system to be updated without affecting the end customers.

Comarch Factoring software is composed of a number of modules. This modularity helps adjust the scope of each project to client’s individual needs. Modules constitute fully a functional factoring platform that delivers end-to-end transaction processing.

The modularity of Comarch Factoring also helps to go with the system live quickly (commercial roll-out of the standard factoring processes and their extension at any time in the future).

b) Factor's customer interface enthusiastically received by End-users

We believe that product designing is not only the job of the designer. The best effects in terms of user experience design, understood as the aspect of a product that describes the needs, usability, functionality, and accessibility, i.e. all the properties that make our client (or our client’s client) move around the system without stumbling, achieve their goals and perform tasks smoothly and successfully, can be achieved only by involvement of all stakeholders in the creation process.

The new Front Office is currently used by the second biggest Polish factoring company – BNP Paribas Faktoring.

During the last customer’s research, as many as 92% of users of the new Front Office rated its functionality and design highly or very highly (2021). That’s a change! Because a year earlier, only 42% rated the old Front Office highly or very highly (2020)

c) Automation to free up time for factoring staff

Our goal is also to improve the work of the factor’s employees by simplifying their everyday tasks. Comarch Factoring Software supports them in several aspects:

Automation of most of the time-consuming activities associated with using the software: generating, parameterising and entering contracts into the system. It required constant improveing main processes such as importing invoices or onboarding new users.

Better matching of payments through the use of an appropriate algorithm. Each invoice is already verified at the input stage. This process assigns the invoice to a specific mask and allowing 85-90% payment matching and fast invoice processing.

Streamlining the work of the risk team. Continuous monitoring of contracts, counterparties and suppliers is critical for the risk department. Improving audit models and algorithms for more accurate fraud detection is key to understanding and predicting risks.