Finance is an integral part of the automobile business. You may need to advance loans to automobile buyers or process lease requests from them. A finance software may be quite a helpful tool in this respect.
Leasing, loaning, fleet financing etc. are some of the common jargons used in the automobile financial sector. You need to advance loans to customers buying vehicles. You may need to handover vehicles on lease. You may also need to finance a fleet of cars. All these calls for innovative financial solutions. Once a financing solution is selected for a particular transaction, you need to process the finance, carry out correspondence, calculate EMIs, remind and account for renewals, and get involved in a host of other activities. This goes on through the entire cycle of the financial scheme. However, with the help of a finance software, you can automate the entire gamut of operations involved in financing automobiles.
There is a defined flow of work involved in settling a loan, lease, or a financing scheme.
The customer fills out a form on your website and submits it. This can also be in the form of XML feed. This is picked up by your finance software system for analysis. It analyses the details and sends the form for approval to the appropriate authorities.
Once the approval is given by the competent authority in your organization, you need to communicate it to the customer. You also need to communicate with the customer about further requirements of documents. This can be done entirely by the finance software through the web.
Now it is the turn of the customer to provide all the necessary documents to satisfy the requirements. You can even issue legal instructions regarding the funding. The documents can be saved in a proper format with the help of a finance software.
At this stage, the finance software generates a cheque for the eligible finance amount in favor of the customer. You need to make appropriate entries in the software for accounting and administrative purposes.
By using a good finance software, you can get a smooth flow of work, right from an expression of interest for finance to the generation of a cheque.
You have the option of performing a credit bureau query to ascertain the credit score of the customer. This can be done at any stage while processing the request for approval. The software is enabled to use different credit bureau interfaces. You can even create your own credit scoring system in the financing software. Some software has internal calculators to calculate debt services.
By using a good financing software, you can customize security for individuals or groups of employees in your organization, in terms of access to different operations and database. You can choose the level of restriction for each individual employee or groups of employees.
You may decide on subsidized loans for your employees, special interest rates for special groups etc. The software can manage all the different types of loans from a single platform.
You can also divide loans into different portfolios. They can be designed in the form of special groups of customers with different variables. This will help you to filter the entire gamut of loans in different tools and reports. This is helpful in sending different notifications to different groups. You can also create separate forms for each of these groups.
Different situations may arise in different loans for different customers. There is a lot of day-to-day work involved in servicing individual customers or portfolios. You may need to make correspondences with customers regarding EMIs or servicing of loans. This is a continuous process throughout the lifecycle of a loan. With the help of a finance software, you can automate such day-to-day processes.
A clinical trial management system (CTMS) is a tool used by institutions to effectively plan, manage, and track their clinical research activities, such as protocols, staff, subjects, financials, billings, and more. It provides a centralized storage system of data and web-based solutions to manage clinical trials from start to finish. Pharmaceutical companies, hospitals, academic universities, and private research firms often use this technology. Keep reading to learn more about CTMS and its benefits.
Some features to look for when purchasing CTMS are listed below.
Using a CTMS solution can help improve studies in a myriad of ways. These include-
Florence E-binders
Florence E-Binders is a popular solution used by over 12,000 clinical trial investigative sites. This CTMS allows teams to enable monitoring, startup, and source data verification remotely. It is typically used by clinical research coordinators in fields like research and hospital, and healthcare. Users can also use advanced integration controls to seamlessly share documents and data between CTMS, eConsent, and IRB portals.
Clario CTMS
Clario allows users to integrate Office tools, documents, and business process workflow into the regulated world. It is ideal for teams working in the pharmaceutical industry.
Rave CTMS
Rave CTMS is offered by Medidata Solutions for research teams in the pharmaceutical and healthcare industries. This CTMS offers real-time tracking and reporting of data reconciliation and study progress. It also has powerful modules for data monitoring, outsourcing, and site payments that can function together or separately.
MasterControl Clinical Excellence
MasterControl Clinical Excellence is a CTMS and quality management tool that provides data and document management with compliance and auditing protection.
VialConnect
VialConnect is an intuitive CTMS for coordinators and investigators. The solution comes in three variants – Electronic Data Capture (EDC), CTMS, and an electronic Trial Master File (eTMF). Because this solution is free at the entry level, it is more prevalent among small and medium-level businesses.
Advarra OnCore
The OnCore Enterprise Research System by Advarra is a leading CTMS platform that major research organizations nationwide use. It offers visibility to the team’s research portfolio, improves the billing process, integrates with various enterprise applications, offers comprehensive reporting and analytics, and more.
Clinical Conductor CTMS
This CTMS is primarily offered as a solution for small businesses to standardize and simplify complex processes when conducting clinical trials. It is one of the leading platforms for managing research and collaborating across various trials and sites. The company also offers 24×7 customer service and ongoing online training to help teams extract the most out of the system.
Similar to ERP, Material Requirements Planning or MRP is one of the most important aspects of manufacturing. It is a way for manufacturers to connect their inventory forecasting with their accounting department. It is required to streamline the process of manufacturing right from raw materials to the finished products. For efficient streamlining, an MRP software has multiple features. They are:
However, there are certain features of a manufacturer software that are more in demand than others.