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Some of history's greatest innovations were so outside the box, people didn't realize they needed them until they came into existence.
Before the automobile, if Henry Ford asked people what they wanted, they would have said they wanted a faster horse. He of course changed the game forever when he developed the infamous Model T.
No one knew they needed a smartphone until Steve Jobs put an iPhone in everyone's pocket. That old flip phone is now an ancient relic.
At NN6, we have a different spin on how to approach software for the factoring space. We thought way outside the box to develop a brand new solution.
When it comes to automation, the name of the game for Factors is usually doing more with less. However, there's always inherent risk that comes with putting money out the door quickly.
Fraud is at an all-time high and when you're moving money that fast, you become vulnerable. We've seen this especially ring true within transportation factoring.
If you're in the industry, what are you seeing? How is OCR technology working out for you?
Does your current software solution have the right "stops" in place to keep you and your firm safe?
Risk management and fraud prevention were top of mind when we created NN6.
Through our Proactive Invoice Delivery Schedule, you'll have peace of mind knowing these "stops" are set up to protect you and provide an audit trail:
Client Total Credit Limit Overage
Debtor Total Credit Limit Overage
Debtor/Client Credit Limit Overage
Negative Reserves
Verifications Requirements Not Met
Client Exceeding Advance Rate (ie: loan to value higher than advance rate)
Through our platform, you also have full transparency through streamlined reporting on:
Abnormal Invoice Amounts
Abnormal Invoice Numbers
Client / Debtor Days to Pay Trend
Client / Debtor Dilution Trend
Over 60 Day Invoices
In recent demos, showing these functions to clients served as a "aha moment."
Much like the introduction of cars and iPhones, many didn't realize just how critical these needs were until they saw them in action for themselves.
We like to think of ourselves as pioneers for Factors.
If you'd like to experience your own "aha moment" and learn how NN6 can protect your portfolio and support your growth, schedule a call with us today.
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