Function: extension to E3 to allow shadowed invoice discounting
Always buy the real thing. This is it. Dancerace invented the idea of full electronic shadowing via the Internet, and with over a decade of experience in operating this kind of finance we can leverage your finance offering into a product type that clients enjoy using, and you enjoy providing because it's as simple as invoice discounting, but as safe as full factoring.
The main features of the interface are in our E3 product description, but this is the business case specifically for eShadow:
- You might have been offered a ledger synchronisation product recently for as 'little' as a few hundred pounds per client. Read on: eShadow is included in our sensible costs, and requires no modification of client accounting software
- Don't be fooled into thinking electronic shadowing was invented elsewhere! eShadow requires no client installation or software modification, so does not annoy or scare off clients - and it's really easy to use. It's also an inbuilt part of the software and integrates real-time with our C3 back-office suite. We've been delivering it since 2002 and it's now into its 4th generation version. Because it's clever, and integrated, and requires no installation on the client's software, we can afford to include this free within our per-client charging scheme
- eShadow enables you to offer invoice discounting facilities to clients whilst benefiting from shadowed sales ledgers
- This product is useful for self-administered clients that may be too small or risky for bulk invoice discounting. Larger invoice discounting clients also benefit as eShadow can simplify or replace regular auditing
- Though technically sophisticated, it is simple to use. Your clients upload their entire open item ledgers at regular or daily intervals. The shadowing software compares the latest upload with the previous, identifying new items and those which, having been paid, are no longer on the ledger
- The system tolerates approximate timing and clearing differences, but inexplicable variances are reported for investigation. Broad retentions for age, credit limit and concentration are calculated to automatically constrain funds availability
- Either for monitoring on in a collect-out situation, eShadow allows debt verification, ledger diarisation - in fact a full range of factoring features to assist or take over ledger management. This can also be used by outsource credit control organisations
- eShadowing allows a client to be handled with a similar degree of risk to a full factoring client, but with around the same effort as for bulk invoice discounting
Don't be confused. Clients have always wanted the unintrusiveness of invoice discounting. And financiers have always wanted the risk control of factoring. eShadow brings these two aspirations together. Safely and appealingly.