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Everyone learns to adapt
Children go off to pre-school and
adapt to the class schedule. Animals
experience a new environment and
adapt their life styles accordingly.
Football teams find their first half defensive game plan lacking and adapt a
new strategy for the second half.
Without adapting, the new student experiences a difficult transition to elementary school, the animal may die, and the
football team chalks up another loss.
Failure to adapt brings dire consequences.
Lenders need to constantly adapt
You change your credit standards when
times are tough to protect your P&L
from severe hits. You adjust your fee
structure and interest rates to meet
the competition and keep the required
volume. At times you start a whole new
style of lending; for example, you could
start offering supply chain finance.
Finally your business might gain from
international business that was not
imagined a few years ago. Without an
adaptable nature you suffer unnecessary write-offs, lose volume, or miss out
on great opportunities.
Your software should support your
adaptable nature with its own adaptable nature
Aquarius, from HPD Software is the
adaptability champion. How often have
we heard, “I can’t do that because the
computer will not let me.”? In these cases
the problem is your software. Aquarius
will not put you in this position.
Aquarius has a basic design feature
called the service agreement that
empowers the financing provider to
adapt to the changes in the market.
When establishing a new client on the
system the user picks a service agreement to assign to that client. The service
agreement has been pre-set in Aquarius
to match one of the standard lending
practices for the finance company. For
example there might be a standard
service agreement for domestic non-recourse factoring. An Aquarius user can
customize its standard service agreements to fit each of their routine lending
arrangements. If the service provider
adopts a new type of lending (say supply
chain finance) they can develop a new
standard service agreement to fit that
type of lending.
Once a service agreement has been
established for a new client the lender
can adapt further by changing the pre-
set conditions of the selected service
agreement to match the details of their
contract with the new client. There are
a multitude of possible conditions in a
service agreement for everything from
fees, to interest calculations, advance
rates, credit limits, currency, language,
availability formulas, and much more.
While this may sound complicated most
client contracts use the default settings
on an existing service agreement and
the user only has to maintain a few
variable conditions for the new service
agreement. Therefore the design of
the service agreement capabilities in
Aquarius is adaptable while maintaining
an efficient process.
The service agreement concepts are one
small example of Aquarius’ adaptability.
Aquarius can adapt even more by allowing the finance company to run multiple
providers on the same data base. If
an ABL shop who uses Aquarius buys a
factoring business and they want to run
it as a separate operation Aquarius lets
them. They can have two service providers on the same data base. One is their
original ABL business and the second is
the newly acquired factoring company.
As your company grows and perhaps
opens offices overseas Aquarius continues to adapt. The overseas office may be
staffed by people speaking all kinds of
languages (even Chinese). Aquarius will
present all its data in whatever language
the user wants, even though they all use
the same database. This is true of the
internal system users and your clients.
Survival means adapting
Strong companies adapt to changing
conditions and Aquarius helps make it