Bayside Business Solutions announced the latest release of its commercial portfolio management system, CADENCE. Version 3.06 includes new features and enhancements that will appeal to factors and asset-based lenders alike.
ABL Red Flag Alerts have been added to CADENCE for ABL to notify users of out-of-formula and over-advance loan positions. They include rules for user-defined standards for frequency of collateral updates and ineligible postings. Additionally, field codes have been added, which enable users of CADENCE for ABL to customize Client Summary Worksheets at the client level.
A new Contact panel has been added to the Client Information screen that allows users to add, edit, or view the details of contracts, as well as assign contracts to invoices on the New Schedule screen. Warnings alert the user to expired contracts and contracts that have reached their monetary limits.
The PO Finance feature in CADENCE can now settle purchase orders against multiple invoices at the same time, and users can set a default number of expiration days on any purchase orders for which no expiration was provided.
“We’re excited about the enhancements in version 3.06,” stated Kim Galloway, Quality Assurance and product manager at Bayside Business Solutions. “We’ll take an in-depth look at all the new functionality in our client education webinars in the coming weeks.”