Business Functions

• New Business
  The new business area of the pancredit software covers all of the required processes to manage the capture, modelling and tracking of agreements and all associated details, from an initial quote through to a live agreement.
• Asset Management
  In the pancredit software, an asset is the security on which a finance agreement can be based.
  
  Many different types of assets are supported. Asset Management software is used to control all processes connected with capturing data regarding assets and the operations that might require amendments to that data.
• Customer Management
  This is used for the control of customer information held by the application for the retention and maintenance of customer data.
• Agreement Maintenance
  This is the main area to allow the user to view and modify a customer’s agreement. The enquiry function in this area allows you to view and query very detailed information held against agreements.
• Reschedules
  The application handles reschedules for fixed and variable rate agreements and will “solve” a number of variables dependent on what the customer actually wants to do with their agreement through use of the modelling facility.
  

• Terminations
  The terminations area of the application will enable you to create and view settlement quotes for different types of agreements, action the closing of an agreement automatically and manually, action agreement cancellations, reverse early termination and reverse early settlement.
  
  In addition it allows you to initially write off an agreement, transfer the agreement to a recoveries area and fully and finally write off an agreement.
  

• Arrears Management
  The application supports both default cycles which you can create for reminder processing (an automated process) and “arrears management” whereby agreements are presented to users within an on line collections facility which utilises pancredit’s workflow management facility.
  
• Accounting
  
  Cash & Banking & Accounting
  The application will ensure that the movements of these transactions are recorded against all necessary customer and third party accounts. The cash and banking process records the movements of these funds against all the necessary accounts and enables reconciliation of these transactions to the statement provided by the Finance Company’s Bankers.
  
  The accounting process within pancredit will take this process one stage further and ensure that the nominal ledger accounts are updated.
  
  Debtor Provisioning
  The application provides support for automated specific and non specific (extant file) provisioning in addition to manual provisioning.
  
• Third Parties
  When a Finance Company provides finance to its customer, there may be other individuals, or companies, that have an interest in the agreement. The pancredit application refers to these other interested parties as “Third Parties”.
  
  The finance company will need to record and maintain details for these third parties. The application facilitates this third party data capture, modification and deletion, commissions, volume bonus, clawback and subsidy schemes, accounting for third party payments and receipts, providing the facility to raise invoice documentation on behalf of the third party in certain circumstances (self billing) and management information.