Functional Features

Introduction of Generative AI for Sales Contract Handling

As part of this release, Generative AI feature for handling Sales Contract/Loan Agreement is introduced in the application to allow the banks or financial institutions to extract data automatically to create or update the relationship and the program. This facilitates the banks or financial institutions to save the efforts of manual data entry, thereby reducing errors. This is an optional feature, that can be enabled at the time of implementation, if required.

Introduction of Smart Maintenance UI

As part of this release, Smart Maintenance UI is introduced to extract data from a sales contract/loan agreement to create/update the relationship and program. The Smart Maintenance screen can be accessed at the following path:

Receivables and Payables > Maintenance > Smart Maintenance

Introduction of the Reject option for Invoices, Debit Notes, and Purchase Orders

As part of this release, Invoices, Debit Notes, and Purchase Orders that are not yet Accepted/Assigned/Financed can be rejected from the Receivables and Payables Management screen for valid business case scenarios. Reject is different from Cancel action, i.e., a rejected instrument can be created/uploaded with the same instrument number again. An option is also provided in the Receivables Inquiry screen, to search for rejected instrument.

Introduction of FCI Message 1

As part of this release, Message 1 is introduced in the application to allow the Export Factor to send the prospective seller's information to Import Factor i.e., when a Two-factor Program is created with Factoring Profile as Export Factor. The introduction of Message 1 feature facilitates the following functions:

To provide information to Import Factor on a prospective seller.
To obtain a quote for import factoring commission from the Import Factor.
To create a new seller entry into the FSBC table.
To inform the Import Factor that a factoring agreement has been signed.

FSBC Table

As part of this feature, a new FSBC (Factor-Seller-Buyer-Currency) conversion table customized to Supply Chain Finance is built in the application in accordance to the EDIT FACTORING guidelines. This faciliates the capture of the seller's information and send them to the Import Factor.

Customer Enrichment

As part of this release, a Customer Enrichment UI is introduced to allow the bank users to add additional information while creating a corporate. The Customer Enrichment screen can be accessed at the following path:

Receivables and Payables > Maintenance > Customer Enrichment

Enhancements to Program Parameters

As part of this feature, Program Parameters screen is enhanced to enable the users to add more information while creating a program for the required corporate. After the required information is captured, Message 1 will be generated once the program is authorized.

Enhancement of Auto-Debit feature to apply only to Accepted/Financed Instruments

As part of this release, a corporate user with Buyer role, can be debited automatically only for those instruments that have been Financed, or those that have been explicitly Accepted by the corporate.

Addition of fields to payments upload file template for FCI Message 12 Requirements

The following fields have been added to the payments upload file template, to make relevant payments eligible for FCI Message 12 processing:

Payment Under Approval
Indirect Payment
Instrument Cleared
Bank Charges
Deduction Amount

Introduction of External Channel Identifier Reference field in the Payment file

Previously, when a payment file is uploaded from the corporate portal, the External Channel Identifier was passed in the Filler 9 field. Currently, all the filler fields are made available to the corporate user for input. Hence, a new field called External Channel Identifier Reference is added to the payment upload file template to capture the reference number from External Channel.

Enhancement to mark an Invoice as 'Paid' during Disbursement, when Buyer is Borrower

As part of this release, an invoice that is financed, is marked as Paid during finance disbursement, provided the borrower is the Buyer, and the Product Category is Invoice.

Modifications to Application Parameters under System Parameters

Limit Type Field

The limit types in the Limit Type field will automatically apply to Credit Limit Mapping field barring the limit type Main Limits in the Application Parameters section of Supply Chain Finance module System Parameters.

Shift of System Parameters - Application Parameters fields from SCF to Receivables and Payables

The following Application Parameter fields have now been shifted from System Parameters under Supply Chain Finance module to System Parameters under Receivables and Payables module:

Payment Conditions
Terms of Sale
Discrepancy Code
Dispute Actions
Adjustment Reason
Industry
Non-Customer Category
Unit

Provision to select Debit Account during Finance Settlement

As part of this release, the Finance Settlement screen is enhanced to allow the banks to specify the debit account for effecting the settlement. In such cases, any internal account mapped to the borrower for finance settlement will be ignored.

Provision to capture and display reason for rejection of ECA Block

Finance transactions in the application involves invoking of ECA Block for lien marking during transaction processing. The lien marking is placed for all the accounts which are being debited as part of the transaction. FCUBS validates the ECA Block requests before actual blocking and sends a negative responsse in case of a failure. As part of this release, the application allows the capture and display of reason for rejection of an ECA Block from FCUBS if the validation is failed.