With the comprehensive functions of the Contract Management solution, financial service providers can handle their contract management and accounting for the available business types, such as sales financing for loans and leasing, purchase financing or factoring. The fully automated processes ensure that all standardized, recurring contract management and accounting processes are carried out without manual intervention and can therefore be processed significantly faster and error-free.
Individual charts of accounts and functionalities for the automated posting of all contract-related income and expenses, receipts and payments as well as deposits and disbursements guarantee complete contract accounting. The automated processing of incoming and outgoing payment transactions and receivables management round off the range of services.
External systems for accounting, reporting and payment transactions are integrated via standardized interfaces. All necessary contract accounting information is transferred to the financial accounting and cost accounting of the general ledger and, if required, to Group accounting. Asset accounting is provided or integrated for the leasing area.
Standardized business transactions
Standardized business transactions for transaction types, such as sales financing for credit and leasing or purchase financing;
Automated support for core processes
Support for contract initiation, i.e. activation/validation for disbursement and automatic installment collection or termination if the contract is not concluded;
Simple realization of financial and non-financial changes
High usability in contract processing, e.g. for changes to the object or product, extensions and contract entry of another lessee in leasing or for extensions or special repayments in purchase financing;
Simple contract terminations
Simple execution of regular or early contract terminations, such as revocation or withdrawal in sales financing;
Automations and posting templates
Automations generated by business transactions that execute functions on the respective due date and make postings in contract accounting;
Manual posting processes
Manual posting of special transactions on the basis of predefined posting templates, including pre-assignment and plausibility checks;
Posting journal
Records all postings and automatic processes in the journal: chronologically by value date/posting date and period as well as factually by e.g. area, client, document number, document item, document text, amount, G/L, person and contract account;
Intuitive search
Convenient, targeted search of data by entering search criteria and selecting sorting criteria and search filters;
Flexibly definable company codes and chart of accounts
Company code-specific creation and maintenance of the required chart of accounts, definition of limits and balances as well as personal or contract-related payment transaction accounts;
Automated clearing and CPD processing
Automated clearing of receivables as part of integrated receivables management and manual clearing for unrecognized items;
Integrated dunning process
Integrated, standardized dunning process with dunning history and overview of current arrears at the various dunning levels;
Automated payment transactions
Special posting functions for fully automated payment transactions with interfaces to payment transaction systems in order to execute payments in interbank transactions;
Synchronization with general ledger
Transmission of contract accounting postings enriched with additional information (at least daily) to the general ledger via standardized interfaces and ensuring correct transmission via reconciliation functions;
Connection to reporting
Provision of information for reporting and controlling via standardized interfaces;
The entire life cycle of a contract, from contract initiation to processing and termination, is mapped in an integrated, web-based system.
The contract management and accounting functions are no longer only carried out by employees of the financial services provider, but are also made available to employees at the point of sale (PoS) as well as the sales force and other partners involved in business processing.
Previous front office and back office functions are mapped for all business types in a consistent, web-based system. This significantly increases efficiency, quality and customer focus and enables successful differentiation in the market.
The solution is designed for high volumes, standardized processes and automated contract management. If required, the system also supports authorized employees with manual processing.
Standardized interfaces are used to integrate standard accounting, reporting and payment systems.
Flexible financial products for specific business types can be provided in the shortest possible time without restrictions between the front and back office.
Country-specific formats are supported; the management of national currencies and exchange rates is an important prerequisite, especially for internationally operating companies.
Several company codes/clients are supported for each transaction type. This includes a separate chart of accounts, separate payment transaction accounts and general ledger accounts for each client, as well as specific export and import functions for payment transactions, general ledger exports and subledger imports.
Parallel accounting in accordance with local and international accounting standards, such as the German Commercial Code (HGB) and International Financial Reporting Standards (IFRS), is possible at any time through account areas in contract accounting. In asset accounting, parallel accounting is realized through the valuation areas imputed, fiscal, local and international.
The automatic function is not tied to fixed batch runs, but can significantly equalize daily business by selecting any execution dates.
The data can be displayed in real time from the perspective of both an individual contract and all contracts.