For example, an Import Controller or a Purchase Manager can prepare his credit application, have it approved internally, and send it to the bank. He can monitor any amendments and deadlines by means of personalised alerts. A treasurer can consult payment deadlines and view his situation regarding outstanding payments; he can monitor total financing costs and see the state of progress of a letter of credit.
Preparation of Documents
The ‘PrepDoc’ feature helps you to edit credit request and amendment application forms. Finelia’s integrated professional educational software program helps the user to observe all the procedural formalism expected by the banks (MT7xx, RUU600,…).
The tool dashboards and the customised reports help you to optimise your credit line management (Monitoring dates of payment, credit limit, credit period; Monitoring credit lines by bank, by branch, by business unit,…).
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.
Management of the Documentary Credit Process
Finelia’s integrated features allow you to monitor the processing of documentary credit: monitoring of beneficiary modification requests, amendment requests, removal of reservations,…
Centralisation of Documentary Credit Management
Finelia uses a collaborative platform to centralise your Letters of Credit, amendments, exchanges with banks, stakeholders, related documents…
Finelia Import LC is a management tool which can be used by departments in Finance, Purchasing, Control, Logistics and Import 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, outstanding bank payments, total financing costs, by supplier, by bank, by time period,…). Finelia enables you to monitor individual bank terms and conditions, in order to calculate bank charges automatically.
Therefore, the application time for Documentary Credit and the time it takes to receive the documentation must be reduced to a minimum. 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.
- Improve the visibility of letters of credit
- Reduce financing costs
- Reduce operating costs
- Reduce counterparty risk