Workflow - CashnTech

CashnTech SCF System Process Flow

Due Diligence & KYC

Product Configuration

Create Companies

Program Configuration

User Roles Creation

Program Mapping

Create Invoice

Invoice Approvals

Disbursement & Repayment

1. Due Diligence & KYC Documentation

Complying to Due Diligence Requirements of Lenders

1. Due Diligence & KYC Documentation

CashnTech understands the due-diligence requirements of the Lenders and coordinates with Vendors to collect at KYC documents. Through the CRM module of CashnTech, Leads are generated on the system, followed by entry of contact details and opportunity creation. All KYC documents are uploaded on the CRM module, which are thereafter examined by the lender and on confirmation, the opportunity gets converted into a vendor details that are acceptable to the lender

2. Product Configuration

Starting out with basic product configurations to meet the needs of the users.

2. Product Configuration

CashnTech configures the platform based on the product related services offered to the anchors, vendors, and lenders. Specific configurations are made to suit the needs, For example, enabling products like Vendor Finance, Dealer Finance, PO Financing, etc. Moreover, general ledgers of the lenders are configured at this stage to keep track of the financial transactions.

3. Create Company Details

Adding necessary details about the companies involved in the transactions carried out on the platform

3. Create Company Details

New vendor, anchor, and lender companies are added to the platform along with specific details about the same. The cloud-based platform is equipped with data regarding the companies involved, including the name of the company, branch code, CIF No., organization type, business segment, UCIC No., relationship manager details, and more. The address and other relevant contact details of the companies are also added to the platform.

4. Program Configuration

Configuring the Anchor led SCF program specifications and limits

4. Program Configuration

All necessary details about the program are added to the system, such as the name of the anchor company leading the program, program financial limit for funding, eligibility for getting funded, expiry dates, transaction limit per account, and more. The system is also fed with details regarding the interest the lender will charge and other fees charged along with the contact details of the parties involved in the program. The program is also configured by adding the bank details of the parties involved for automatic disbursement and deduction of payments

5. User Roles Creation

Creating user roles to clearly define the responsibilities and scope of each entity within the program

5. User Roles Creation

Dedicated roles are created for all parties involved. Specific permissions are set for anchors, vendors, and lenders. Two distinct roles are created for all three parties – maker and checker. While the maker is responsible for performing specific activities during transactions, the checker is responsible for ensuring its viability and providing an oversight. Dedicated user IDs are created for all parties involved. This is the stage where Admin roles are defined as well. All user roles created on CashnTech can be edited or deleted by the administrators as per their requirements, besides being able to perform all system administrative tasks.

6. Program Mapping (Anchors And Vendors)

Automated mapping of vendors to the anchor-led programs to ensure a smooth workflow

6. Program Mapping (Anchors And Vendors)

The vendors registered on the platform are mapped to their respective anchors for the anchor-led programs. Here, the Maker and Checker user IDs created for vendors are checked and approved by their respective anchors or adminstrators. Automated emails are sent to every vendor on the platform after confirmation to create a password. This is also the stage where the vendors would sign the Digital Terms of Use.

Transaction Management

7. Invoice creation

The creation of invoices by the vendors (makers) on the platform and their approval by the checkers

7. Invoice creation

Depending on the transactions, the vendors onboarded on CashnTech create invoices and send them to their respective anchors. The invoices contain all relevant details, including invoice no., loan account no., invoice date, due date, the number of items, invoice value, description, and more. After the invoices are created, they are approved by the vendor checkers before submitting them to the respective anchors. At this stage, the vendors can also perform a bulk upload of invoices from an external file to the CashnTech platform to cut down data entry time and improve productivity.

8. Invoice Approvals

The approval of invoices by the anchors and funding requests made to the lenders

8. Invoice Approvals

The anchors receive the invoices approved by the vendor checkers which are passed through multi-stage approvals (carried out by anchor makers and checkers). Once approved, funding requests are raised by vendors to the lenders. Finally, the lender makers and checkers approve the invoices for processing them.

9. Disbursement and Repayment

Disbursement of funds to the vendors’ accounts and final repayment made by anchors to the lenders

9. Disbursement and Repayment

Once the invoices are approved by the lenders, the (discounted) amount is disbursed to the vendors’ accounts in the lenders’ Core Banking System (CBS). The ongoing status of the invoices is updated either automatically through the interface or manually by uploading payment files from the lender.
Interest is accrued automatically in the CashnTech system based on the number of days the loan is outstanding. Final repayment by the anchors to the lenders is either set up automatically or initiated by the anchors.

CashnTech SCF System Process Flow

Due Diligence & KYC

Product Configuration

Create Companies

Program Configuration

User Roles Creation

Program Mapping

Create Invoice

Invoice Approvals

Disbursement & Repayment

Transaction Management

CashnTech Invoice Transactions Flow (Payables/Vendor Finance)