A Credit Manager or a Treasurer can consult payment deadlines; consult client, country or bank receivables; monitor the total financing costs; view the state of progress of a file, as well as any attempts made to obtain a removal of reservations.
Preparation of Documents
The ‘PrepDoc’ feature helps you to prepare documents to avoid any discrepancies, by automatically recovering the documentary credit fields and amendments. You can then deliver clear and precise information to the different stakeholders, necessary to obtain the compliant documents.
The Documentary Credit processing procedure is standardised for all users. Thanks to the monitoring of every stage of the process, from prior to issue right up to completion of payment, the user manages all of his documentary credit together, using a proven methodology.
Creation of Alerts
The system enables you to set up personalised business alerts (validity period, bank document presentation deadlines, shipping deadlines, stakeholder reminders,…).
Management of the LC Process
Finelia’s integrated features allow you to monitor the processing of documentary credit: managing modification requests, amendment requests, removal of reservations requests,…
Centralisation of Documentary Credit Management
Finelia uses a collaborative platform to centralise your Letters of Credit, amendments, exchanges with banks, stakeholders, related documents… Finelia Export LC is a management tool which can be used by departments in Finance, Logistics, Trade and Export to organise and share information.
Production of Reports and Cost Management
The reporting module enables you to obtain personalised reports (e.g. total sum of transactions, total remittances, total financing costs, by client, by bank, by country, by time period… Finelia enables you to monitor individual bank terms and conditions, in order to calculate bank charges automatically.
Main aim: Conclude payment as quickly as possible
To do so, the beneficiary must provide the bank with documentary evidence to prove his respect of the conditions imposed by the documentary credit.
Real-time monitoring and the presence of personalised indicators and dashboards enable you to assess the financial stakes, identify weaknesses and thus come up with plans of action based on qualitative and quantitative objectives..
- Preparation of documents
- Reduction of payment recovery times
- Reduction of discrepancies
- Information and report sharing