external parties add-ons


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External Parties

External Parties allow you to group Accounts and/or pay commissions and disbursements to External Parties that you sell finance through. finPOWER Connect stores a record of the contact details for each External Party and their key personnel.


Where you have dealings with parties outside of your organisation, External Parties, the External Party Add-On allows you to record their details and manage their structures.


For External Parties, full information can be maintained including employees and comprehensive contact details. Each Account and Client can be allocated to an External Party allowing you to assess the performance of your extended business network.


The External Parties Module allows you to set up groups for 'Dealers', 'Brokers', 'Insurers' and 'Other' External Party types.


The External Party Organiser provides a visual representation of your extended business network.




Advanced External Parties

The finPOWER Connect Advanced External Parties Add-On expands on the functionality of the External Parties Add-On with the addition of three key areas; Disbursements, Dealer Commissions and Business Development Managers.



Disbursements

Disbursements, or Settlements as they are sometimes referred to, cover payments made to pay out the Loan, as well as to pay costs associated with the Loan.


Disbursements may be paid directly to the client, in the case of a personal loan, to a vendor where finance is being provided for the purchase of an asset, or it may be to a number of third parties where you are offering a debt consolidation service.


Disbursements allow you to make individual payments directly to a bank account or credit an existing External Party's Account for consolidation and distribution at a later date, such as you would do with Insurance premiums.



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Commissions

Commissions allow you to pay commissions to Brokers and Dealers. Various calculation methods allow you to calculate and pay commissions in accordance with your business model.


Available options for calculating the default amount of the Commission are:

  • Set Value - Pay this amount no matter what the value of the Transaction is.
  • Percentage - Pay the nominated Percentage of the Transaction value
  • Difference - Pay the value of the Transaction less the nominated value
  • Present Value - Calculated using Present Value Calculations


Business Development Managers

For tracking the employees in your business, i.e. the Business Development Manager, that generated the Account business.




External Users

Once you have the External Parties Add-On, the finPOWER Connect External Users Add-On allows remote access to the finPOWER Connect database (via the finPOWER Connect Web Interface, WAN, Remote Access tools etc).


It restricts Users to viewing only their own Accounts. Access rights can be given for other groups of Accounts if required.


finPOWER Connect uses sophisticated security based around Users, Roles, User Logins and Role Permissions.


This allows your extended business network to undertake their own enquiries on the Accounts they are associated with, saving you and your staff valuable time and money.


Users can also be given rights to add log notes, update contact details, run specific reports etc thus further freeing up your valuable time.