Daily News: March 25, 2015

FinSoft Launches AssetReader 2015 Software

FinSoft announced the launch of AssetReader 2015 software. The ABL data analysis tool is used by accountants and back-office operations for the preparation of ineligible collateral calculations, statistics, concentration grouping and other data analytics.

FinSoft’s managing director, Joseph Caplan, CPA, said, “We have more lenders and most of the outsource firms using our data and field exam products for ineligible calculations, stats, inventory movement and more.
With the 2015 release of AssetReader, FinSoft has completed a data parsing development plan that started 16 years ago. We had a long list of goals 16 years ago when we started AssetReader and the 2015 release marks the end of that initial list of goals by establishing the most complete set of import options available in the entire data parsing business” Caplan noted. For 2015, we combined the ability to handle multiple level traps and row offsets and column-move offsets in one product. Because software is a constant evolution of research, refinements and investment, this clearly puts FinSoft 16 years ahead of anything else in the ABL data download and analysis space. AssetReader is now the de facto best product for ABL specific importing of reports for both audit and operations. That means better shared use for ineligibles and stats across the organization and the efficiencies extend to fraud detection with AssetArchive and confirmations with AssetArchive Desktop add-on products that use AssetReader 2015 data downloads. This is a huge win for our users and the entire ABL industry to get work done faster and reduce fraud with a state-of-the-art product set,” noted Caplan.

Caplan added, “Lenders with existing systems usually find that the ability to import data for audit or into the operations systems is limited or at a high labor costs when compared to AssetReader’s data analysis and ineligible collateral calculations. Both field exam and operations departments benefit from pre-programmed ABL specific reports, while retaining the existing tracking systems and using a common setup across the organization. One well-seasoned system, multiple users, a huge base of outsource firms and well-seasoned reports simply save time and improve accuracy while reducing fraud.”

AssetReader 2015 will be adding more user requested features in the months to come.