Create a Factoring Product
Factoring in supply chain finance is a financial arrangement where a business sells its accounts receivable (invoices) to a third-party financial institution (called a factor) at a discount.
In order to create a Factoring Product you need to:
Create a Product Group and Structure for an Factoring Product
Apply the created Product to a Deal
Navigate to the Product Groups Tab
Go to the Products section -> Product Groups
Click on Add New Group button
Product Group
Product Groups work as your product templates. Once you set up a specific Product, it can be used for multiple programmes and clients.
Name | Name and define your Products so it’s easier to set up multiple deals with similar features |
Type | Receivables Purchase |
Anchor | Seller |
Instrument | Invoice |
Description | A summary of the Product Group |
Navigate to the Product Structures Tab
Navigate to the Products section -> Product Structures
Click on the “Add New Structure” button
Product Structure
Product Structures define the workflows of your products. They are specified after the product group, as the structure and workflows within it directly influence the product you select.
Similarly to Product Groups they work as templates and can be assigned to multiple clients/ Deals.
Name | Factoring |
Product Group | Choose the name of the Group you have just created in the previous step |
Recourse to supplier | Either |
Silent/Undisclosed | Either |
Workflow Settings
Instrument Upload/ Submission by | Seller |
Payer approval required | Optional |
Repayment by | Payer |
Repayment Reconciliation By | Admin or Deal Manager (Funder) |
Finance requested by | Seller |