Bayside Business Solutions announced the release of Version 2.15.7 of its flagship product CADENCE, a portfolio management system. This upgrade introduces an automated A/R tracking interface, an invoice confirmation add-on module, and new SQL reports.
“We’re excited about automated A/R tracking because it automates the invoice verification process by integrating CADENCE with OnPARR, the Online Paying Agent Reporting and Rating product from Gallium Technologies,” said Jay McKinney, Bayside’s senior VP of Operations. “It’s basically a screen-scraping process. The CADENCE Engine scans the invoice verification queue for debtors with paying agents and automatically queries Gallium to learn the status of the invoices for those debtors. Gallium pulls that data directly from the paying agents and transmits it back into CADENCE, where it updates the Collection Detail with the appropriate data. This is going to provide a substantial labor savings for lenders.”
Invoice confirmation, the newest add-on module for CADENCE, likewise saves time by allowing lenders to automatically build randomized queues of invoices to verify post purchase using rules they set on a client-by-client basis.
With the release of CADENCE 2.15.7, Bayside begins offering reports that use SQL reporting services, which provides better functionality and compatibility with the CADENCE infrastructure.
Bayside Business Solutions supplies portfolio management software to the global commercial lending industry.