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FACTOR module · Factoring management

Factoring: prepare your assignments where risk and receivables already are

FACTOR extends accounts receivable steering to financing. The data already in Hoopiz (invoices, receivables, payments, cover) is the basis for preparing assignments and tracking the financing obtained. Eligibility checks are applied before sending, to limit rejections.

0re-keying to prepare an assignment
Multicontract, entity and currency
Eurofactorconnected

Illustration · fictitious data

Sound familiar?

Preparing a factoring assignment shouldn’t take a whole day

Extracts, manual checks, rejections by the factor: factoring eats up time and leaves financing on the table.

Finance departmentCFO, treasurer
  • We don’t know exactly how much can still be financed.
  • The factor’s reserves reduce financing without us understanding why.
  • With several entities and currencies, tracking becomes unreadable.
  • Financing is managed separately from customer risk.
Credit managersCredit managers, accounts receivable
  • Each assignment is prepared from ERP extracts.
  • Disputed or overdue invoices still go out, then get rejected.
  • Assignable receivables are forgotten.
  • Data has to be re-keyed on the factor’s portal.

From receivables to financing

Three steps, no re-keying

1

Customer ledger

Invoices, receivables, payments and cover are already in Hoopiz.

2

Assignment

Hoopiz prepares the assignment and applies your factor’s eligibility checks before sending.

3

Financing tracked

Track the financing obtained by contract, entity and currency.

Fewer rejections

Checks before assignment, according to your factor’s rules

Each invoice is checked before sending. You know what goes out, what is held in reserve and why, and you identify assignable receivables not yet assigned.

EurofactorMore factors coming soon
Checks before assignmentExample · fictitious data
Receivable outside the contract scopeExcluded
Due date passedExcluded
Dispute in progress
Insufficient cover
Duplicate invoiceExcluded
Compliant invoiceAssignable

What FACTOR does

Factoring managed together with the rest of your receivables

Management is multi-contract, multi-factor, multi-entity and multi-currency.

Assignments without re-keying

Prepare your assignments directly from the customer ledger.

Assignable receivables not yet assigned

Identify the financing still available and add it to the next assignment.

Reserves explained

Understand reserves linked to missing cover and act to lift them.

Financing tracked

Track the financing obtained by contract, entity and currency.

Cover in COVER

When the credit insurance policy is delegated to the factor, cover is still managed in the COVER module.

Multi-entity, multi-currency

A single view of financing for all your companies.

At the heart of your ecosystem

Your data flows, your decisions apply everywhere

Hoopiz automatically retrieves cover from your credit insurers and information from your data providers, cross-checks it with your receivables and payment behaviour, then feeds risks, decisions and indicators back into your information system. No re-keying.

Inbound data: credit insurers and data providersOutbound data: to your information system (CONNECT module)

Your invoices, payments and customer data flow in automatically from your ERP.

One platform, 6 modules

FACTOR works hand in hand with the other Hoopiz modules

The modules share the same data: what one detects, the others let you act on.

Hoopiz by sector: staffing · wholesale distribution · food & beverage · building materials · manufacturing · all sectors

FAQ

Factoring management: your questions

More questions? See our full FAQ.

What is factoring management software?

It is a tool that prepares receivables assignments from the customer ledger, checks their eligibility according to the factor’s rules and tracks the financing obtained.

Which factors does Hoopiz work with?

Hoopiz is currently connected to Eurofactor. Other factors are being added.

Which checks are made before an assignment?

For example: receivable outside the scope, due date passed, dispute in progress, insufficient cover, duplicate invoice. The rules apply according to your contract.

How is cover managed when the policy is delegated to the factor?

Cover is still managed in the COVER module, and FACTOR takes it into account for receivables eligibility.

Does FACTOR handle several entities and currencies?

Yes. Management is multi-contract, multi-factor, multi-entity and multi-currency.

Finance your working capital more simply

Talk to our experts about your factoring contract and how Hoopiz can prepare your assignments and track your financing.