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Electronic Factoring

Transition to electronic online commerce

A medium sized company involved in servicing was implementing orders, invoices, delivery notes and payment via traditional paper based systems and the post.

A number of their larger (and very important) trading partners had transferred their commercial transactions to the Tradex™ system which allows orders, invoices, delivery notes and payment to be exchanged fully electronically and online, in real time. However Tradex™ requires that data be formatted in a specific format which they did not have access to directly.

The result was that their business took longer to transact especially in order processing and payment. This was clearly to their commercial detriment. It was also beginning to damage their reputation.

They already had a FileMaker system from Semaphore Communications and so asked them to find a way for them to use Tradex™ as well.

Semaphore created a FileMaker system that talks directly with the Tradex™. This allows a simple and secure transfer of data with an interface that will work with back office systems including Sage, Excel, Access and any number of a variety of other accounting packages.

Semaphore’s interface add-on takes the Tradex™ format requirements and makes FileMaker format the reports into a format that Tradex™ will understand. This process also works in the reverse direction as well.

Now, data is collected and organised in Filemaker and reports are generated according to the user’s requirements. When perfect, these are sent to Tradex™ for processing.

The client can now trade with any organisation subscribing to Tradex™ giving them much more immediate and effective trading (and hence improved cash-flow) and enhancing their reputation. They are now perceived as being able to “Play with the big boys”.

Equally management can now have more immediate and comprehensive reports on their trading activity.