Credit Managers or Treasurers can consult payment deadlines; outstanding amount per client, country or bank; monitor the total financial costs; view the project progress, as well as any attempt to seek waiver of discrepancies.
Preparation of Documents
The ‘PrepDoc’ feature helps you prepare the required documents to avoid any discrepancies, by automatically recovering the fields of the documentary credit and the amendments. You will then be able to provide the various participants involved with sufficiently clear and precise instructions to produce 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, users manage all their documentary credits together, using a proven methodology.
Creation of Alerts
The system enables you to set up personalised business alerts (validity period, deadline for presenting documents to the bank, shipping deadlines, reminders to stakeholders,…).
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 seeking waiver of discrepancies,…
Centralisation of Documentary Credit Management
Finelia centralises on a collaborative platform your documentary credits, amendments, exchanges with the banks and other 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.
Report Generation and Cost Management
The reporting module enables you to obtain personalised reports (e.g. total sum of utilisations, total number of remittances, total financial costs, by client, by bank, by country, by time period…). Finelia enables you to record individual bank conditions for an automatic calculation of fees.
Main Aim: Conclude Payments as Quickly as Possible
To do so, the beneficiary must present to the bank documents that are compliant with the terms and conditions stipulated in the documentary credit.
Real-time monitoring and the presence of personalised indicators and dashboards enable you to measure the financial stakes, identify the weak points and thus come up with plans of action based on qualitative and quantitative objectives.
- Preparation of documents
- Improvement of DSO
- Reduction of discrepancies
- Information and report sharing