FactorFox Software announced that 107 existing customers have been onboarded into the SANDBOX environment of FactorFox AI, the company’s new AI-native operating system for factoring and specialty finance.
Customer training and migration validation are underway, and initial customers are already operating in production.
Rather than adding artificial intelligence features to its legacy factoring software, FactorFox developed a new operating system designed to connect intelligence directly with the financial workflows factoring companies use every day.
FactorFox AI brings together document ingestion, receivables management, operational controls, invoice processing, funding, treasury and financial reporting within a unified operating environment. At the center of the platform is Fox, an operating assistant designed to understand factoring operations and help users interact with the system through natural language. The platform includes the AI-powered Reporting Studio, which allows users to create financial reports by describing their requirements in plain English. FactorFox AI is also listed on Microsoft Marketplace and integrates with Microsoft Teams.
The onboarding of the 107 customers follows an earlier demonstration attended by more than 70 FactorFox customers. The company is conducting training and validation sessions as customers prepare to transition their operations to the new platform.
“Our customers have been an important part of this transition,” Roberto Vasquez, founder and CEO of FactorFox, said. “We’ve already brought 107 existing customers into our new SANDBOX environment, training is underway, and our first customers are operating in production. This is not a concept we’re asking the industry to imagine. It’s technology our customers are beginning to use.”
FactorFox has served the factoring industry for more than two decades and maintains a month-to-month subscription philosophy rather than requiring annual software commitments.
“We’ve always believed customer loyalty should be earned through performance, not enforced through long term contracts,” Vasquez said. “Our customers have had the freedom to evaluate us every month for more than 20 years. That philosophy hasn’t changed. What has changed is the technology. FactorFox AI represents the next generation of what we believe specialty finance software should be.”
FactorFox will introduce the new operating system to the broader factoring and specialty finance industry during a live Microsoft Teams demonstration Thursday, Nov. 19, at 1 p.m. Eastern. The demonstration will use a fictional factoring company and synthetic financial records to illustrate how an organization can begin transitioning from an existing software provider into FactorFox AI.
Attendees will see how Fox can help interpret an A/R aging report, operating policies, procedures, client agreements and bank financing documents, then connect that information to operational controls and financial workflows. The demonstration will follow invoices through ingestion, scheduling, eligibility checks, funding decisions and financial reporting.
Following the event, qualified attendees may request access to a controlled FactorFox AI SANDBOX evaluation program. Eligible members of the International Factoring Association may receive up to 30 days of complimentary access, while other qualified factoring companies may receive up to 14 days.
Registration for the Nov. 19 demonstration is available here.
