What are the Benefits of Merchant Cash Advance software?
A Merchant Cash Advance Software helps lenders leverage their alternative lending business from competitors by unveiling meaningful insights from the application. The software helps to create a weighted score for a lead based on direct data like years in business, annual revenue, daily sales, industry etc. and derived data like bank statement analysis, FICO score, business social score etc. to provide a holistic input to the credit decisioning model.The solution also helps in secured storage of documents submitted and generated during the application process. Customizable workflows provide the benefit of supporting new business strategies easily.The Merchant Cash Advance Solution also connects the funding companies, brokers, and the merchants in the Merchant Cash Advance industry while being compliant with the regulations.Once a loan is disbursed the Merchant Cash Advance software helps with payment solutions to track the transactions and update with integrated ACH or card payment processors. Additionally, users can schedule the recurring or single payments, calculate and automate remittances.The Merchant Cash Advance portal can be customized with role-based access controls and user-friendly management dashboards. Different user groups like brokers to submit the deals, investors to monitor and manage the performance metrics, and merchants to view the data of the repayment can be configured.Since, business decision-making is only as good as the information available, reports and analytics can provide interactive data reports in various formats that help business owners make informed decisions.The Merchant Cash Advance software can also integrate with CRM or Marketing platforms to enable cross-sell or upsell using insights from the merchant cash advance software. Integration with accounting systems also helps in better bookkeeping for the business.