FinSoft updated several of its ABL software products that focus on due diligence for field examinations and operations. For 2018, the company specifically completed updates to its AssetReader and AssetWriter programs.
AssetReader uploads borrower reports such as A/R agings, A/P agings, inventory reports, sales, cash, GL, address lists and more, then interrogates and presents the data for reports such as A/R ineligibles, inventory ineligibles and A/R stats. Data feeds FinSoft’s AssetWriter field examination software and AssetArchive data analytics, confirmations and fraud prevention software. AssetWriter consolidates all field examiner divisions in four mouse clicks or imports data from other examiners with expert level report writer summaries.
The updated releases expand the software to include more complex trapping of transaction codes, along with code ranges to tag ineligible items. AssetReader now has a full-blown set of inventory ineligibles using the same technology that has been used for accounts receivable for over 20 years. Version 2018.3 is available now.
The new AssetWriter updates focus on specific reported issues. FinSoft will continues with the AssetWriter rewrite scheduled for early next year with all new code, a new database and further integration with AssetReader for the 2019 release. Version 2018.3 update will be available by the end of August.
“FinSoft continues to evolve and expand the offerings that are just not available or are an afterthought in other systems,” said Joseph R. Caplan, managing director of FinSoft. “We’ve always been more detailed and more flexible than other products on the market, and now we have expanded the ability to trap line-item ineligibles while also expanding our well-proven technology for receivable ineligibles to the inventory ineligible calculations.”