Factor EDI Module

Factoring has become one of the more common ways of borrowing in the business world today and most major factors have implemented EDI requirements. ADS’s Factor EDI Module can eliminate much of the work associated with submitting orders for credit approval, approving those orders in the system, and preparing and submitting assignments to the factor. The software can grab all orders that have not been submitted for credit approval and transmit them over to the factor. The factor then responds back via EDI and the software will automatically credit-approve orders based on the factor’s response. Additionally, a factor assignment can be created and submitted within minutes. There is no longer a need to create packages of documents to be messengered over to the factor. The assignments are automatically updated into the factor’s software once they receive the EDI. This usually provides our customer’s with more borrowing power more quickly and can eliminate minimum invoice fees.