Daily News: May 14, 2013

Bayside Introduces Enhanced CADENCE Platform

Bayside Business Solutions announced the latest release of CADENCE, its commercial portfolio management system. Version 3 breaks new ground with the consolidated Client List, a built-in feature that gathers all of your collaterals — from factoring to asset-based lending and everything in between — into a single view.

“The consolidated client list is revolutionary. It lets you put all of your loans on the same platform, which makes managing different types of business so much simpler.” said Russ Opper, managing director at Bayside. “And it’s incredibly flexible. We’ve built in different ways for you to view your data that focus on a client, facility, or collateral perspective, essentially letting you data mine within the CADENCE application.”

The V3 release of CADENCE also introduces Tracked A/R. This new built-in system feature processes your clients’ submitted A/R data, calculates the ineligibles, analyzes trends, and updates the borrowing base.

“Tracked A/R basically integrates previously off-system tasks, for greater operational efficiency and added credit control,” explained Jay McKinney, senior VP of Operations at Bayside. “You can quickly generate ineligible calculations, to reduce your exposure.”

To aid with the delivery of data into CADENCE, Bayside developed a new interface with its partner, FinSoft: Collateral Reader. This add-on module lets lenders mine aging reports (including TXT, XLS, XLSX, CVS, RTF, DOC, DOCX, PDF, and HTML) and convert files into data for ineligibles analysis in CADENCE.

Report Writer, CADENCE’s built-in reporting feature, has been expanded in version 3. Built with SQL Reporting Services technology, Report Writer gives you the ability to create full-featured visualizations of data with a tool that has a familiar Microsoft look and feel. Additionally, users can run reports, either on demand or scheduled on an automated based.

Also expanded in version 3 is the Credit Monitoring interface. Bayside has worked with their partner MCB Business Credit Services to enhance the Experian reporting capabilities of this third-party interface within CADENCE.

Finally, the latest addition to CADENCE’s long list of add-on modules is Graphical Workflow. The visual interface gives lenders the power to quickly design their own automated notification processes in CADENCE. This capability can be expanded beyond the back office to communications with clients and debtors through portals available with CADENCE.