Introduction

NetAsset - Asset Financing System is a web based Asset Financing software solution that caters to the needs and requirements of financing companies dealing with products such as Leasing, Hire Purchase, Hiring, and Loans etc. NetAsset -Asset Financing System consists of 6 main modules.

1. Marketing
2. Credit
3. Finance
4. Recoveries
5. Administration
6. Reporting & Management Information

 

Features

The detailed features of each of the Modules listed above are given below;

1. Marketing

This module handles the functionalities required from the point where a potential customer places an inquiry to the point the actual application is created, and includes the following;

• Inquiry
• Pricing
• Quotation
• Application Entry & Processing

2. Credit

This sub module is used to process following credit related functions;

• Credit Verification
• Credit Score
• Credit Approval
• Document Generation & Printing
• Purchase Order Generation / Application Activation
• Payment Requisition
• Add / Delete Guarantors
• Standing Order Entry

3. Finance

Functions related to Finance and Accounting comes within this module.

• Receipt Processing
• Post Dated Cheques - Entry
• Post Dated Cheques - Receipt Generation
• Payments Processing - Leasing
• Payments Processing - Other
• Payment Approval
• Cheque Printing
• Payment Disbursement
• Invoice Generation & Printing
• DR Note / CR Note Processing
• Termination of Contracts
• Security File Movement
• Income Suspension and Provisioning

Accounting Control Reports - These reports maintain a daily control over Control Accounts and Schedules, and ensure timely remedial action, in the event of discrepancies.

4.Recoveries

Recoveries sub module consists of functionalities which relate to the recoveries process consisting of following options.

• Assign Collection Officer to Contracts
• Collection Targets
• Temporary Receipts Generation
• Repossession of Assets
• Legal Actions
• Collection Tools & Reportts
  • Outstanding Balances with Ageing
  • Outstanding Balances Movement Report
  • Branchwise / Collection Officerwise - Outstanding Report
  • Collection Reminders

Follow up sub Module:- This module provides features to set actions and tasks and follow up on same. Example-Collect rental for Contract No X from Mr. A on 1st August.

5. Administration
This module handles the maintenance of Reference Information. The functionality is categorized in to 11 sections as follows;

• System Users
• Overall System references
• Geographical Arrears
• Licensee Organization Structure
• Inquiry
• Pricing
• Application Process
• Credit Evaluation
• Finance
• Terminations and Exceptions
• Follow Up Module

6. Reporting and Management Information

Reporting Module mainly consist of the following;

• Credit Information Bureau (CRIB) Reporting - Required regular reporting is fully automated through this option, which is compatible with the current CRIB Platform.
  
  
• Central Bank Reporting - All report required for regular reporting to the Central Bank of Sri Lanka are generated using this option.

The Management Information Module provides reports and information under each category as follows. MIS relate to,

• Marketing

  -Inquiry Report
  -Quotation Report
  -Business Volume Analysis
  -Branchwise Income

• Credit

- Agreement Register
- Application Process Report
- Termination Report
- Exposure and Arrears Statement
- Contract Balance Report

• Finance

- Trial Balance
- Capital Outstanding and Income Report
- Maturity Reports
- Contract Level Balance Report
- Payment Status Report
- Purchase Order Report
- Cheque Return Report

• System Audit Reports

- Audit Reports relating to System Users
- Audit Reports relating to Reference Master Files
- Audit Reports relating to Transactions (Applications, Invoices, Collections, Payments, DR / CR Notes etc)

 

Key Benefits

1. Accurate & timely processing of complex transactions

NetAsset Solution provides timely and accurate processing of transactions from client identification, application processing, evaluation of client credit worthiness, releasing supplier payments, follow-up of collections and termination of agreement.

2. Automation of workflow

NetAsset Solution provides a totally automated workflow based support for efficient transaction processing covering the entire range of activities. This key design feature enables very high levels of operational efficiency and improved productivity.

3. Online real time accessibility of information

Net Asset Solution provides real time access to information resident in the system, which in turn provides relevant up to date management information. This includes evaluating client performance at any given time, evaluating marketing officer performance and collection officer performance, maturity analysis, performance comparison of company portfolio and Analysing market fluctuations segment wise, product wise, area wise and asset wise.

4. State of the art Web/Relational DatabaseManagement System

NetAsset Solution is developed on the Oracle Relational Database Management System, which provides high levels of stability and security for the operation of the system. The Oracle back end Database has been coupled with a web based front-end user interface providing rich functionality and ease of use for end-users.

5. Scalability to suit Operational Requirements

The proposed solution can be established at a base level and could be scaled up, both in terms of application functionality as well as hardware and other infrastructure to meet Operational Requirements of the Client.

6. Solution that meets Dynamic Client Requirements

Having control over the software, SasiaNet is in a position to provide effective solutions to licensee's ever-changing requirements and changes forced about by the environment in which the licensee operates. The solution will not remain stagnant, but will evolve with the licensee's requirements.