New commercial finance company LightStar Financial Services, which opened in July 2012, and commercial finance software developer Bayside Business Solutions announced that LightStar implemented Bayside’s CADENCE | Live platform to administer its business-to-business lending operation.
CADENCE | Live delivers Bayside’s software as a service, providing the tools and resources necessary for managing every aspect of a factoring and A/R finance business via a secure web portal for a monthly fee.
“CADENCE is the perfect product for monitoring our factoring portfolios at LightStar,” explained Janelle Glidewell, owner of LightStar, “With large volumes of invoices purchased daily, typically at very small dollar amounts, and multiple payments against the same invoice, we have the ability to easily track and monitor open claims, do monthly trending and import and export to and from our client’s software programs. The CADENCE| Live database enables all of our staff members and management to easily access their systems from anywhere that they may be working – remotely, while traveling or from any PC in our office. After using other factoring systems for portfolio management, I cannot imagine factoring without CADENCE.”
“We are very happy to welcome LightStar to the Bayside family,” said Marvin McConaghy, VP of Business Development at Bayside, “And we look forward to being part of their growth.”
LightStar Financial Services provides factoring and asset-based financing solutions to small- and mid-sized companies in the healthcare industry.
Bayside Business Solutions supplies portfolio management software to the global commercial lending industry.