FOUNDATIONAL
Managing Director
HQ: Ellicott City, MD
410-747-7994 • finsoft.net
Since launching its first product in 1996, FinSoft, one of the original innovators in the asset-based lending industry, has continued to develop tools to simplify the lending process for borrowers and lenders alike.
FinSoft has spent the past 26 years and counting developing applications that did not yet exist in the commercial asset-based lending space. From field examination software to data downloads and analytics, FinSoft strives to provide what is not available and then lead in that space.
FinSoft started with its AssetWriter product in 1996 to create a unified database-driven field examination package. Since then, the company has expanded the service to now include multiple division consolidations in four mouse clicks, examiner imports of any single or multiple tests and graphs as well as currency translation options and the ability to export to Microsoft Word.
Then, in 1998, with support from a benefactor bank, FinSoft started its AssetReader data download software. The product has become an industry staple for ineligible calculations of receivables and inventory, with additional imports for sales, cash, GL, inventory usage, address lists and more. Data from the program also exports to AssetWriter and AssetArchive, a program FinSoft launched in 2015 to provide ongoing trends and data analytics for spotting unusual balances and invoices on a per-debtor basis.
FinSoft was an early innovator in the ABL industry, and its innovation continues in 2022. FinSoft is currently working on a new product that will apply to the entire ABL industry, building trust between borrowers and lenders and tapping into a market that has never been serviced before. The software, which is addressing the “madness” of having borrowers compute ineligibles, will be available to both lenders and borrowers and can be used alone or integrated into any existing back-office system.
“Allowing a sea of numbers to be seen is part of the mission and so is time savings through expert systems that save time by automating desired outputs. If you don’t use FinSoft products, you must be getting paid by the hour.”
