Payments and disbursements: Bank interfacing, mAccount

Our system allows disbursements to seamlessly be made based on a business partner or a particular contract. Users can choose to have the amount disbursed either fully or partially and the system executes accordingly.

Invoicing and billing

For invoicing and billing, NFS Ascent includes a number of functionalities. The system allows configuring invoice generation, invoice printing, and a number of other functionalities.

Contract modification

Without closing an existing contract, the system permits modifications during the term of financing. A number of financial as well as non-financial modifications can be made rapidly and with ease.

Notifications / Payment reminders

The system can configure and send notifications at various events to the customer, such as on credit approval or payment due. Cross-selling and up-selling is also possible via sending these notifications.

Early payoffs

The early loan payoff calculator enables quick calculation of time and interest savings that can be reaped by adding an extra payment to an existing payment schedule.

Customer services

Our system manages all customer correspondence, contract modifications and customer queries. Customer service agents can assist customers with their queries using the Customer Service Interface screen which contains all information related to a specific contract or customer.

Tax management

Our system has built-in, standard features available with comprehensive tax management, which facilitates in applying taxes using highly-configurable templates.

Insurance management

Users can generate payables for insurance premiums to an insurance company and fees to agents, and disburse them from the disbursement screen. Furthermore, our system has the capability to interface with external insurance systems.

Maintenance services

We ensure stringent standards when it comes to providing the highest quality of services in order to ensure our customers’ businesses run efficiently. Our maintenance services include 24/7 support services, daily support, dedicated customer services and support teams, project and account managers, consultancy and a number of other services.

Flat cancellation

Our system allows flat cancellation of a contract after activation, but within a certain number of days from the contract activation date. For flat cancellations, the user can mark whether a new contract will be created against a flat cancelled contract or not.

Asset Catalog

Remarketing

Remarketing is performed to recover the outstanding receivable that was due to be received from the customer by selling the asset to a third-party. Once the remarketing request has been generated in the system, the finance company can auction the asset on its own or through any external auction house.

Litigation

In the event that an agent is unable to recover an asset from the customer after default, the finance company may decide to enter into a litigation process. Our system allows litigation to be performed through user-generated litigation requests.

Repossession and release

Repossession is performed in a scenario where the contract is in overdue or in default. The finance company will generate a repossession request and appoint a repossession agent in the system, who will perform repossession of the asset on a specified date and time notified by the finance company.

Overdue handling

Our system ensures that overdue payments are immediately communicated to customers whose payments are overdue. Overdue payment notifications are automatically sent out to customers.

Credit request

Our wholesale system enables you to define credit limits for dealers defined within the application. It is mandatory to assign credit limits to a dealer before processing any loan request.

Credit approval

Generally, every loan has to be approved within the credit limits sanctioned to a particular dealer. If the loan request amount is more than the credit limit, the limit has to be enhanced before requesting the loan.

Loan request

Dealers can send requests for new loans online. The loans are automatically approved if the credit limits are available and price range are configured. The finance company can approve or reject financing loan requests depending on the current credit limit of a dealer.

Dealer status

Our Stock Auditing System (SAS) module records the status of assets lying with the dealer. This is ensured with the help of auditors who can record the exceptions on a stock list and send it back to the finance company through an interface.

Loan inquiries

This is an option used to generate a query regarding any information of a particular loan.

Loan / term adjustments

The system enables a number of adjustments and modifications, including loan or term adjustments. Using the adjustment note functionality, users can waive any amount from invoices that are generated in the system.

Re-plans

Approvals

Our system includes this option, which is provided to approve a loan financing request.

Asset transfers

Through the asset transfer status window, dealers can view the status of asset transfer requests that have been initiated or received by them, along with relevant details including asset information, location, and other details, after which the transferee dealer can acknowledge the transfer.

Customer request and inquiries

The system enables customer requests and inquiries to be dealt with swiftly and in the most efficient manner.

Customer report

Customer reports enable retrieving all information regarding a particular contract. All necessary details regarding general information of a contract, asset details and business partners are presented here.

Audit schedule and view

Audit schedule is an option, part of the audit management system, which is provided to schedule an audit.

Audit result submission

Audit result is an option, part of the audit management system, which is provided to enter the results of an audit.

Disbursements

Once payables are generated in the system, users can select them and make disbursements to different business partners, i.e. asset cost to distributor, rebate amount to dealer, and so on.

Invoicing and billing

Our wholesale system has the functionality to rapidly generate invoices against receivables. The system can handle a vast number of invoices including daily invoices, on demand billing, monthly interest invoices, charges billing, rebate billing, interest penalty billing and others.

Receipts and settlements

Finance companies can adjust receipts against different receivables from both distributor and dealer. These include the final settlement, receipt voucher, UAF settlement and refund notes.

Retail netting off

Unallocated funds / Refunds

If a user enters a receipt without selecting an invoice or the receipt amount is greater than the invoice amount, or if a user cancels a settled invoice, the receipt will be transferred to the unallocated funds of the business partner.

Cancellations / Waivers

Our system enables various forms of cancellation. This includes invoice cancellation, receipts cancellation and ESR cancellation, which is an option provided to cancel the rebate given on factoring income to the dealer, which is payable to the dealer.