Clients say about us: As a result of successful automation the time required for generating reports has reduced to 3 business days while the quality of IFRS and RAS reports has improved. We would like to specially emphasize high level of skills of the Contractor's project team. The methodological component of accounting automation is quite bulky and labour intensive. Considering the importance of this work for project success it should be entrusted to high skilled professionals, such as Homnet Leasing employees.
Pavel Levskoy CFO RB Leasing, 2015

Homnet Leasing is bringing to market a new informational system for automation of factoring operations


Company Homnet Leasing, a leading provider of leasing business automation software, announces release of Factoring software product intended for automation of operative, regulatory, and international accounting of factoring operations. The solution shall be available as an additional module to the functionality of industrial system Homnet Leasing 14 for leasing companies and as a stand-alone product Homnet Factoring for financial companies.

In the conditions of existing unstable political and economic situation financial companies have to take "anti-crisis" actions: look for new sales markets, cut costs, introduce new products, such as retail leasing and factoring. These actions require developed automation means.

Considering the needs of the Russian factoring services market, Homnet Leasing has developed a software product with high-quality functionality that does not require any upgrades during implementation and covers a wide range of activities of a modern financial company providing factoring services. During design and development of the Factoring software product Homnet Leasing specialists used the best industry methodologies and practices accumulated by the company during five years of in factoring business. The software functionality has been developed based on successful experience of project implementation in the following companies: Absolut Leasing, Cisco Capital, Caterpillar Financial, MAN Financial Services.

As of today the following functional possibilities have been implemented in the informational system for automation of factoring operations:

  • accounting of contractual relationships with Creditors and Debtors,
  • calculation of Debtors' payment schedules,
  • control of fulfilment of obligations by Debtors,
  • calculation of commission schedules for Creditors,
  • local and tax accounting, statutory reporting,
  • IFRS accounting and reporting.

Factoring software product has a number of advantages including: simplicity of implementation, flexible parameter set-up making it possible to take into account peculiarities of work with various Creditors and Debtors according to various schemes; automation of routine operations, time saving and reducing error probability resulting in improving accounting transparency, speed of operative reports generation, and employee efficiency increase.

"The decision on our company development and release of the new software product was based, first of all, on the real need of the factoring market in the availability of a high-tech automated system for accounting factoring operations. Factoring software is a must-have. Availability of an out-of-the-box solution makes it possible for leasing companies to reduce the terms of launching a new direction to several months and to be able from the very beginning to completely control the business process and obtain transparent reporting in Homnet Leasing 14 system", comments Dmitry Kurdomonov, Homnet Leasings Managing Director. "Factoring companies can get Homnet Factoring solution as a stand-alone, out-of-the-box product from a reliable supplier. The solution functionality is based on the advanced technologies used by our customers, factoring and leasing companies, as well as by the unique development technology "Industrial Approach" that has been applied to over one hundred of successful projects. It allows protecting the investments into the informational system and guarantees high level of development and functionality support quality.

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