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fidis: LIMIT.pilot reduces default risk in factoring

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Automated monitoring and management for all limits / High flexibility and precision / Key instrument in risk management and trade finance




Kaarst, 9 October 2014 With LIMIT.pilot, factoring companies are now able to automate and comprehensively manage all of the limits that need to be accounted for in factoring. This IT solution has been developed by fidis GmbH in Kaarst/Germany, representing a new component to the praxis proven factoring solution FACT.pilot.


Debtor solvencies and client insolvencies represent significant risks for factoring companies. However, setting limits for purchasing receivables makes it possible to reduce losses. That is why limits are an important component to risk management when financing trade receivables. However, managing and monitoring limits is a highly complex matter: numerous types of limits with various parameters must be created and monitored for debtors as well as for factoring clients. This includes the limits that absolutely must be met for commercial credit insurance in order to avoid losing insurance coverage. Manual limit management to that end is enormously time consuming and error prone.


"Factoring companies are assuming an incalculable risk when they do not manage their limits precisely and comprehensively", explains Otto Johannsen, Managing Director of fidis GmbH "LIMIT.pilot avoids errors, and therefore sidesteps an elevated level of default risk." The limits on LIMIT.pilot can be created and managed on the customer, debtor and commercial credit insurance levels. There is a selection of purchasing limits, financing limits and various further concentration limits available. As soon as the desired limit amounts and parameters are defined, the system checks receivables in real time for purchase worthiness in relation to the set limits.


"In the event of a factoring client's insolvency, the open receivables often become worthless", explains Johannsen. "By setting financing and purchase limits congruent with the customer's credit worthiness, factoring companies can significantly reduce that risk." 


In order to mitigate default risk on the debtor level, LIMIT.pilot additionally makes certain that the commercial credit insurances  obligation requirements are met and that no under-insurance is incurred when funding trade receivables. The limits, contracts and contract models for all leading commercial credit insurances can be reviewed and managed on the system. "Those looking to optimise factoring must also recognise in advance when there is risk of overstepping the credit limit via open invoices", explains Johannsen. "Only then can the factor or the factoring client act and, to name but one example, negotiate a higher level of financing with the commercial credit insurance." An automated interface is used to input and process the insurances information on a daily basis.


About fidis


fidis GmbH is internationally one of the leading service providers of standard software for factoring and ABS processes based on SAP. The use of FACT.pilot® and ABS.pilot® enhances the competitiveness of factoring companies as well as the banking houses and saving banks. At the same time, they also fulfil the statutory stipulations. The modular structure of the software ensures quick implementation on the required scale. Irrespective of its size, every business can take advantage of this solution. fidis was founded in 2000. Its customers include leading factoring companies, big banking businesses and savings banks.


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