AssetReader Challenge

The Expert Import Wizard With Machine Learning (ML) and Artificial Intelligence (AI):

Parses data with an expert wizard interface that is specific to each report type.  We've been at this import stuff since 1998 and our ML is the best in the industry due to that ongoing investment and years of time.  Our AI assists with setups and that mitigates setup errors.  This means that users don't need to format date fields as dates, number fields as numbers, etc.  The report imports with knowledge of what is needed for that report type.  There are no templates to save, retrieve or manage because all settings are saved to the database as you work and as part of our ML structures.

• How are templates saved and retrieved (that is the old way)?
• How is data imported without the need to format data columns?
• Can you show me the import templates for AR, Inventory and AP, Sales, Cash, GL, Customer and Vendor Address reports?
• What type of file names are needed for the system recognize the next reported file after setup?
• What file naming flexibility is allowed for file names?
• Can the system detect the updated files for the next import (does it learn, does it recognize updates)?

Not in the game

#1 In ABL Downloads and Detail:

We are #1 in the ABL Industry for the reasons noted here.  We've been tested against every product on the market by our users and they continue to select FinSoft products every time that a comparison is made, no exceptions.  We continue to get users coming off of other products that lack the power of AssetReader for imports, analysis, time savings and support.   We continue to take their users and make them our users, but they have never converted one of our users to their download and parsing software - not even once!

It is not price, it is ease of use, features and support.  Driven by our AI and ML since 1998, our Lender and Outsource firm list of Field Examination Providers has the top names in the industry and we make them accurate and efficient too.  Field Exam and Operations use makes AssetReader the #1 choice for integration and efficiency while reducing fraud risks and lender liability with both AssetReader and AssetArchive.

 AssetReader detail and accuracy means fewer errors related to excess collateral and lender liability.

• When did you start the import user interface and logic (remember, we've been at this since 1998, hint they started around 2018)?
• Who do you consider your competition to be?
• Show us how to import a detailed aging report and compare it to a detailed AP report
• How does your data export to field examination reports?
• How could your software be used for Ineligible collateral calculations for Receivables?
• How could your software be used for Ineligible collateral calculations for Inventory?
• How do field examiners setup, use, share with Operations and benefit from your software?
• Where are the ineligible settings?
• How would you handle sales journals with the data on different rows per transaction?
• So your tool parses data into columns.  Can you show me the ABL calculations now?

Not in the game

TIME Is Really Slow and Expensive:

Parsing data into columns is not easy, but there are far more issues than just text files.  It takes a lot of years to get it right for text, PDF, Excel and other formats, but it is also a slow evolving process to make changes for so many formats.  We have seen thousands of download files and we've made thousands of hours of changes to AssetReader for many file formats AND ABL specific calculations.  Our ML is highly evolved and that is from years-and-years of doing the refinements.  While others are on generation 1 of imports, we're on generation 8 at this time and generation 9 is under development.  

REPEAT - Thousands of hours of changes over many years to develop our BI, ML and AI.

If you got into converting data from PDF, Excel, HTML, RTF, Word and parsing data into columns and then calculating stats, inventory turnover, ineligibles, Etc. electronically in 2021, you would be 23 years behind us.  Years and years and years of constant evolution here and it takes talent too.

• When did you first write the column parsing tool (how long ago, what year)?
• How many file formats do you handle?
• What about Excel documents with text-like formatting?
• What about PDF documents that have heavy formatting
• What about PDF documents that come from mal-formed PDF drivers?
• How many years have you been downloading data?
• How many tweaks do you have for re-aging the AR and AP reports?
• How do you calculate AR, inventory and AP Stats activity?
• How many ways can you compute over eligible days items such as Over 90's (hint, we have four ways)?
• How many methods do you have for aging and calculating inventory slow movement (hint, we have five ways)?
• We want support from people that know accounting, who is that?
• How many years have you been making adjustments to downloaded report electronic ineligibles?
• How much time would you say you invest in new code every year for parsing and uploads in your product (hint, we focus and do it all year-long)?
• How much time would you say you invest in new code every year for ineligible calculations (hint, we focus and do it all year-long)?

Not in the game

Our Customers Are Commercial Finance ABL Specific:

They have so few ABL customers, that you might be surprised. Many of their existing commercial finance and ABL customers do not use the product at all because it is too hard to use, while we have 100% in use customers. WE have the market share for many reasons noted here and they know it!  But we never stop tweaking our products and they get better and better every month.

• Can we talk to ten ABL users please (we have dozens of their customers that use AssetReader because it is that much better)?
• Show me the ABL Specific calculations that you have.
• We'll let you talk to all of our fanatical customers, just ask.

Not in the game

The Unspoken Truth About Downloads:

Downloading data is NOT for every employee.  There are real skills gaps in the field examination and back-office operations areas and employee skills to do downloads will vary by person.  Surprisingly, education levels seem to not have as much impact as you might think, but prior experience with downloading and parsing data is helpful in most cases.  Because of the diverse group of examiners and back-office professionals that use our products, we can safely say that we have automated the most complex parts of the process with our AI and ML and removed the programming chores that lead to deployment and acceptance failures, as well as actual mathematical setup errors with other systems.  Our import wizard is above and beyond and unlike any other due to design and refinement.  Our users range from high school graduates to Masters Degree employees and we have a very high acceptance rate due to an outstanding product, the best ease of use in the industry and focused ABL specific training.

• Besides CPA firms or Internal Auditors, who is your biggest user group?
• Show me the formulas that you use to do cross-aging and make three customers cross-age at a different percentage
     (hint, we have options for that built in and NO formulas to adjust)
• Show me how to list Wal-Mart and Sam's Club as one grouped customer?
• Show me how you would group together say All DRAM or all Hard Drives in an inventory report.
• Show me how to List Customer A as a 20% concentration limit and Customer B as a 25% concentration limit
• Show me how to re-age the receivables, but leave the unapplied cash and finance charges in the original column
• Show me how you compare the AR to the AP for contra analysis
     (we have the most intelligent and thorough routines in the business, without user programming).
• So based on the above answers, why do you think your software is easy to use?

Not in the game

Real ROI, But Even Better, Real Results on Investment:

Real Return On Investment (ROI) is quite fast with AssetReader.  The calculations provide predefined reports that are only available from AssetReader.  The setup and reports are retained by the system for ongoing time savings every time those reports are processed.

Real time savings and real ROI.   We have reduced back office staffing at some lenders by 50% and allowed some portfolios to grow by over 200% with no additional Field Examiners and no additional back-office staffing.  This is due to automation that is built-in.  Other tools require lenders to spend hours on each setup and subsequent re-exam to tweak each calculation for each report.  This causes a high need for above average computer skills, programming skills to write IF statements or perform math and write custom database reports.  FinSoft has automated the ABL specific reports that you expect and they make sense too.  THIS IS POWER because your entire team can use AssetReader instead of  having a small group of "HAVES" and a larger group of "HAVE-NOTS'" with computer and math function skills.  We have done the hard part and NO OTHER PRODUCT HAS AUTOMATED ABL CALCULATIONS FOR YOU.  Ease of use requires pre-defined BI and AI logic and they don't have it.  Time and staff savings requires pre-defined logic and they don't have it. 

How can they claim that they are easy to use?

How can they claim to save you time, certainly not as much as AssetReader?

How can they claim to have ML and AI (is it just buzz-word puffing)?

We get the job done in a fraction of the time that they require to get less than our results.

• Do I need to define all of the heading labels and formats for each report?
• How many agings can be processed per month?
• Can you review the reports of the processed agings, sales, cash, GL and Inventory?
• Can you see how long it takes to process the import, ineligible calculation and reports?
• How much time can be saved and please demonstrate that to me?
• How can that much time be saved if ABL specific items are not really automated?
• What skill levels are needed to write the formulas to get ineligibles and please show me?
• How do you group all of the Wal-Mart's and Sam's Club accounts?
• How do you calculate contras?
• Please demonstrate the settings for credits over the eligible days?
• Please demonstrate the settings for cross-aging
• Please demonstrate the settings for concentration limits
• We sometimes get Excel reports with terrible formatting, how do you handle that?
• What do you do when reports are a mess and they can't be imported with your product?

Not in the game

Keep Your Existing Loan Monitoring System in Place!

There are a lot of users of well-known Operations Management software out there to assist with your Borrowing Base needs.  Do you need to scrap your current system?  Not necessarily.  You've invested in training, a trained workforce, customizations and Borrower reporting workflows.  Our system enhances what you have as an add-on that excels at data imports, interrogation, mathematical analytics and more.  With AssetArchive you can add fraud prevention analytics and confirmations too.  We have desktop and Cloud solutions (with full API support and better yet, with completed screens for a turnkey solution). 

We also offer API options to integrate in several different ways for existing or home-grown systems.

Note:  If you need to key-in 5-10 ineligible numbers calculated with AssetReader, you are having a GREAT day compared to doing it the hard way.

Note:  If AssetArchive spots a fraudulent customer or invoice when you get the new reports, you just reduced your loss exposure and without scrapping your current monitoring system.  You've enhanced it and your fraud detection is better too.

• What is the cost to convert to your system for employees, training, actual software costs, Etc.?
• What is the cost to train my workforce?
• What is the annual cost to run your system for 25, 50, 100, 150, 200, 250, 500 loans?  Ouch, that's expensive!
• What is the cost to modify your system for customizations?
• You've been doing ABL Specific calculations since when?

Not in the game

REAL File Problems:

We are hearing stories about one approach or another to get data into your system.  Fortunately, we've been downloading data since 1984 and we've seen some terrible reports.  WHY?  There are so many systems out there and it is not all Quick Books, MAS90 or Great Plains, Etc.  There are thousands of vertical industry systems out there.  In addition, the items that feed the agings could be in dozens of ledger accounts.  We invested heavily in the data parsing side and that allows us to pull-apart existing reports from text, delimited, Excel, PDF, HTML, RTF, DOC and other formats.  Our years and years of "tweaks" are based on your ABL specific needs and nobody has the options that we do because we specialize in ABL needs and have for many-many years.

• My Borrowers have some crazy agings, can you explain how you would approach these?
• How long have you been tweaking your software to deal with aging report problems and specific ABL ineligibles
     (THIS IS ONE OF THE MOST IMPORTANT QUESTIONS TO ASK because it takes many years of refinements to have high success rates)?
• Why do I need to convert files to your format before uploading?
• What if I can't get files into that format every time I get an aging or other report?
• How many tweaks do you have for PDF Files (ask... "Show me")?
• How many tweaks do you have for Excel files (ask... "Show me")?
• Can you handle HTML, DOC and RTF Files (ask... "Show me")?

Not in the game

Do We Need FinSoft to Do and Continue with Setups and Specific file support for PDFs:

FinSoft does provide file setup as a service and that makes sense for some that seek to minimize back-office staffing and training.  Some of the providers charge very-high fees for that type of service and most require users to send them PDF files for conversion (at an ongoing high cost).  Most of the FinSoft users setup and maintain their own files and PDF conversion is built into the software.  Most say that it is better than Monarch and other products that they have tried.

• Can FinSoft provide setup services?
• Does support include assistance with setups for trained users? (once trained, most users don't need FinSoft help)
• Do we need to send PDF files to you for conversion and how much does that cost?
• Besides PDF, what about HTML, DOCX and even highly formatted XLSX files for conversion?
• Can the setups be used by the Web product too?
• Does the system learn and retain the changes made as we work?

Not in the game

Real Ease of Use (not advertising words, but real ease of use):

Ease of use is a combination of things and worth thinking about.  FinSoft backs up our claim of ease of use because of the years-and-years (since 1998) to refine our AI, ML and BI:

We have specific data type import wizards, they don't
We have multiple levels of: Traps AND Offsets and Floating Traps too, they don't
We have specific ABL reports and analysis already defined, they don't
We have specific ABL ineligibles, they don't
We have the ability to find contras electronically, they don't
We have four (4) ways to calculate over eligible days such as Over 90's , they don't
We have the ability to group like-named accounts together (including an automated method), they don't
We have pre-programmed options for ABL, they don't
We have the pre-defined joins for things like inventory and usage reports, they don't
We have the best support in ABL, they don't
We get solutions programmed quickly when needed, they don't offer that at all

So while they are making users set up imports and then set up each calculation and report query, we have thought of those things already for the ABL profession.  Yes, it is FAR HARDER than you thought with their tools and their advertising is cute, but their program is not easy for ABL and when you see AssetReader, the comparison shows our evolution and polish, but also how smart our ML really is:

• If you have to setup joins, why is the data not grouped by warehouse automatically?
• Can you see the reports for ineligibles or do you need to set them up for each import and in pieces?
• Show me how you analyze AR Statistics from a 12 month GL that has one column of numbers?
• For inventory analysis, what does the excess quantity report look like?
• Why the need to setup each query?
• How do you group sales by month for the whole year from one column of numbers from the G/L?
• How do you group all of the Wal-Mart and Sam's Club receivables and then compare them to AP?
• Show me how to handle a report that came from Crystal Reports
• Show me how to handle reports that came from Share Point Accounting
• Show me how to get the credits over 90, but not double count negative totals?
• Why will it take so long to get a custom date function that is not in the program?
• Why do I need to add formulas and run individual reports to get specific results?
• Show me a Borrowing Base Detail, Ineligible Summary and Ineligible by Customer report (they don't have any)?
• Show me the ineligible settings screens?
• Show me how to import an AR and AP Aging without defining the header labels and formats?
• Show me how many turnover method options that you have for inventory?
• Have you seen ease of use?
• Can you get 10 ABL references and call them to ask all of the questions in this Challenge?

Not in the game

Marketing Advertising and Websites?:

FinSoft does some advertising, but not much.  DO NOT BE IMPRESSED WITH ADVERTISING OR WEBSITES!  Every year, FinSoft invests many times their annual advertising budgets into R&D and enhancements that are ABL specific.  We always have.  On the other hand, those with BIG advertisements (perhaps several of them), Marketing staff, Business Development staff, Sales staff have invested ZERO DOLLARS IN ABL SPECIFIC NEEDS.  DON'T BE IMPRESSED WITH THEIR LACK OF PRODUCT INVESTMENT OR SONG AND DANCE ABOUT EASE OF USE OR "DITCH THE SPREADSHEETS" COMMENTS.  Add-up how much they are spending on those marketing salaries, office space and related benefits.  FinSoft is focused on ABL specific needs and constant enhancements not our advertising budget and it shows in the products.  MAJOR lenders have tested every product on the market and selected FinSoft every time... We are not surprised at all how our investments since 1996 have built fantastic products.

• Vendor -- What is your annual budget for ABL specific software development, excluding tech support, marketing, advertising and other management or marketing?
• Vendor - How many people work in sales, marketing and business development? (add that cost up in your head)
• Nice advertisements, but can you show me the ABL specific features of your software?  
• Can you explain why you spend more on advertising and marketing salaries than on ABL specific product development?
• Why is your website so thin on materials?
• Are you buying a product and solution or sales staff and marketing here?

 Not in the game

Speed of Calculations / Time Savings:

Consider importing a new monthly aging of 40,000 invoices and 2,500 customers.  How long would that take to import and then compare to the AP Aging import?  Recalculated?  Each re-import takes 1 - 2 minutes per report.  Recalculation takes about 30 seconds for a report that big.  All reports are instantly available.

Don't be fooled when people write "fast" and "speed" and "Cut Audit Time" in their literature or demos.  If you need to setup everything and make formulas, maintain formulas, run several reports to get some (not all) of the pieces calculated in their software, then is it really "fast" or "speedy?"  We import very-very fast, but that is only a small part of the total time.  We've got real ABL Analytics down, they have none of that (NONE!).

• Demonstrate an AR and AP import with all recalculations done and reports ready to print?
• How long does it take to recalculate the ineligibles?
• Can you see a summary and detailed ineligible report, please?
• Show me how to generate AR Stats across 18 months from a GL Download?
• Show me how to analyze slow moving inventory?
• Show me how to setup Inventory Ineligibles that are repeatable, detailed and reusable?
• Show me how to have different ineligible days such as 120 days for some customers?
• After the import, how long does it take to setup the ineligibles for concentrations, contras, affiliates, international, cross-aging, aged credits, Etc.?
• After the initial setup, what is the process for the next import and calculation set?
• How fast and simple the next import will be?
• How automated are the imports after the initial setup?

Not in the game

Concentration Grouping:

AssetReader groups all of the similar concentrations together for you, including different names like Wal-Mart and Sam's Club into one account.  We can do this for inventory items too.  This "alias" is also shared with payables and contra analysis automatically.  AssetReader can help to automatically find Customers/Debtors and Inventory that should be grouped together with the new Alias Finder option, further saving on initial setup and monthly maintenance time.  They have no options because they don't do this kind of stuff.

• How do you group concentrations together?
• How automated is grouping of concentrations?
• How would you group U. S. Senate, U.S. Border Patrol, US Congress and skip Unisys and US Modular?
• How do you group Wal-Mart and Sam's Club together?
• How are the concentrations grouped on the ineligible report?
• Do grouped names get shared with AP?
• Do grouped names get shared with contras?
• Can I do this for Accounts Receivable?
• Can I do this for Inventory?
• Can I do this for Sales and Cash?

Not in the game

Transaction Code Analysis Built-In:

Ineligible receivables such as contras, cross aging, international accounts, affiliates, transaction codes such as DM, FC, COD and others.  Inventory ineligible codes like Pkg, Sup, Scrap, Chem, Inks, Solv and others.  Complex codes like all parts from 1000 through 1600 as packaging, Amounts under $10.01 as small parts, Sums under $100.01 as small quantities, blank part descriptions, Etc. are all handled with ease.  All ineligible summary and then all ineligible detail on one report and all summarized in detail by ineligible type or with reports showing ineligibles by customer.

• How are transaction code ineligible items handled?
• How do transaction codes work if the item is also tagged as an affiliates or government ineligibles?
• How many Borrowing Base Reports are available in the system?
• Can I grab all parts under $10.00?
• Can I grab all invoice amounts under $25.00?
• Can I get all blank P.O. numbers?
• Can I get parts in a range from 70000 through 99999 and mark them as obsolete?
• Can I get all dates prior to 2010 and mark them as obsolete?
• Can I tag all scrap items and mark them as Ineligible?
• Can I grab all FC and F codes and mark them as Finance Charges?
• Can I do this for Accounts Receivable?
• Can I do this for Inventory?

Not in the game

Combining Different Accounting Systems:

This one is so much fun that some people told us "it's not possible."  Imagine having a borrower with several accounting systems because of mergers and acquisitions.  For example, a four division borrower with: two divisions in MAS90, One in Sage and one in Quick books.  AssetReader can integrate those into a single set of AR, AP, Inventory Stock-Status, Inventory Usage, Sales, Cash, GL, Address Lists, etc.  That also means consolidated AR and Inventory availability / ineligibles.  We made it super-easy to setup and the updates are automated as the new reports come-in.  

• How do you combine different accounting systems?
• How do you combine different accounting systems for ineligibles?
• Each accounting report has different columns, how does that get combined?
• What manual steps are needed to combine files and do we do that every time?
• How complex is the setup and workflow to do the combining from different accounting systems?

Not in the game

Saving Reports as a Group:

Batch output to PDF and Excel puts all reports in one workbook or PDF for easy distribution and one-stop report prep. Users can also create different workbooks for each report type (e.g., AR, Inventory, AP).

• How do you save reports?
• Can you create a reports workbook for Excel?
• Can you save selected reports to PDF?
• Does the system remember the selected reports for next time?

Not in the game

Custom Math Functions and Columns:

Sometimes reports have unusual complexities such as no negative numbers for payments (all numbers are debits), Invoice Dates are in two columns because some transactions are not normal, Invoice Numbers and Transaction types are in the same column, etc.  Custom calculations can be applied to existing imported columns to correct the data or Custom Columns can be added.  The math can be simple or complex, including AND / OR operations, plus string manipulation functions to pull-out parts of a field.  The Custom math Functions include IF-Then-Else support with a format this less complex than Excel.

• Does the system have an Expression Builder to do math?
• Can the expression builder use logical operations such as IF-Then-Else?
• Can you change the value of imported columns using math and logical operations?
• Can simple math be applied to existing or new columns?
• Can complex math be applied to existing or new columns?
• What about IF-Then-Else logical operations to analyze conditions and produce custom results?
• Can custom calculations be used for Ineligible items for AR and Inventory?

Not in the game

Pricing:

Far less expensive than Monarch software for Field Exam use (but Monarch does nothing ABL specific at all and AssetReader's PDF, Excel and floating traps are superior to theirs).  Even if another software product was 1/2 of our price it would still not save you all of the time that we do.  It would not be ABL specific nor would not have the outstanding ABL reports found in AssetReader, nor the years of development for ABL, nor the switches and options found in AssetReader, nor our fanatical support.  The time savings alone pays for the software compared to having extra employees.

AssetReader for audit when combined with AssetWriter field examination software would cost less than Monarch alone and contain both our ABL specific calculations and our fanatical support for your field examination software needs.  More imports, better field examinations, say goodbye to math errors and get thousands of hours of programming all well supported for ABL.  That is an investment that can only improve your budget and reduce fraud risks and no other solution has this integration, depth or support.

 AssetReader reduces labor costs far in excess of the purchase price, a win for your budget.

Software purchases are about time savings, ease of use, ABL specific features and ABL support, but they have none of what we offer at any price.  We hope that they lower the price to the floor because we don't compete on price and thus don't insult your intelligence.

• Is the price based on a lack of everything on this web page and more?
• So they can parse data into columns, now what?
• Show me the analytics that are ABL specific?
• How does your solution feed into the audit cycle?
• How does your solution provide Operations specific reports and setups?
• Is it price or features or a lack of features and support that make you buy?
• What is true ease of use and focused functionality worth?
• What will it cost us to integrate this solution with Operations?
• What will it cost us to integrate this solution with Audit?
• How does your solution integrate with AssetWriter field examination software?
• How does your solution integrate with AssetArchive Data Analysis and Confirmation software?
• What kind of time savings can you show us?

Not in the game

ABL Spoken Here:

We're all about ABL and others just can't say that.  Check out their web site for ABL information and there is none.  Because they have nothing and thus nothing to say.

• Why is their web site so thin or silent on ABL?
• Since their website lacks ABL specifics, is this a side-line business?
• Who is their ABL Expert?  Their ABL background?  Are they employed there or a consultant?
• FinSoft wrote and distributes ABL-Help, the industry guide to ineligibles.  Is their ABL expertise that they are an ABL software company?
• FinSoft's owner teaches ABL Data analysis on a regular basis and they teach what about ABL?
• FinSoft's owner teaches ABL Advanced Audit topics on a regular basis and they teach what about ABL?
• Our understanding of ABL plus our product support are invaluable.  How about their ABL support?

Not in the game

Inventory Analysis for ABL:

AssetReader calculates inventory totals, verifies extended cost values, and even ages inventory automatically from available purchase dates, turns or turnover days, and it also automatically joins with usage reports such as cost of sales or units sold to calculate turnover.  Calculations include an aging, zero turns, excess quantity (beyond your specified threshold), cross-aged inventory and more.  Finding small value balances or items and tagging specific items or categories is simple and repeatable for new reports that use the same setup.  Inventory ineligibles and the ability to track categories or items noted in appraisal reports.

• How does inventory age for slow moving analysis?
• How many methods to age inventory are avaiable?
• Two Words... "Inventory Ineligibles."  Show me how many ways that can be setup?
• What methods can be used for the aging?
• How is excess quantity calculated?
• How is inventory cross-aging set?
• How can inventory be regrouped without programming?
• Show me the ABL inventory reports?

Not in the game

Real Analysis For ABL:

Just one word to focus on here -- "Analysis."  We could use the words "business intelligence" (BI).  While other tools parse data, they don't analyze it for ABL purposes.  We specialize in ABL specific analysis and reports and this saves hours of time while producing superior analysis, fraud prevention and genuine ABL reports.  We don't just do some analysis, we do a ton of it using AI and once again, nobody else does this in a programming-free way.

• How does the system analyze ineligibles for ABL?
• How does the system group AR Stats across multiple months?

Not in the game

No Dongles (what's a dongle?):

No restrictive hardware dongles at FinSoft.  Some providers want you to use a hardware dongle (hardware security key) on each machine.  While that may be OK for some stationary operations, field examiners would need to keep the keys safe or express mail them to other field examiners.  We license each machine with security codes, not hardware locks.  This reduces hassles and it is quite a bit friendlier that hardware dongles.

• Does the system require dongles?  
• Who pays to mail the dongles around the country?
• What if you lose a dongle?

Not in the game

Imports Many File Formats

(Text, Delimited Data, PDF, XLS, XLSX, RTF, DOC, DOCX, HTML)

AssetReader is the only tool in the world that can import Text files, Delimited files, Excel Files, RTF Files, PDF files, HTML files with ease.  REALLY!  Everyone else leaves you scrambling for complex solutions, emailing your files to the vendor for conversions, and excuses that it cannot be done.  Our PDF conversions are fast, flexible and built-in.  We are the only provider that offers multiple ways to import Excel files, handle SharePoint files correctly and offer the ability to alter column spacing in PDF, XLS, XLSX, DOC, DOCX, RTF, HTML.  

• What file formats are supported?
• How do you handle PDF files and what PDF conversion?
• What PDF "tweaking" options do you have?
• How do you alter column widths in PDF, DOCX, RTF and Excel files?
• What Excel tweak options do you have?
• Do we need to send files to you for conversion?

Not in the game

Staff Retention and Staff Satisfaction:

The FinSoft user base is made up of seasoned Asset Based Lenders that have seen and enjoyed the power of automation and our fanatical focus on ABL.  Lenders that use FinSoft products have the lowest staff turnovers in the industry and they won't work for companies that lack this level of automation ("Too much work" they tell us).  This is a huge savings in recruiting, training costs and field time.

• Can we have ten ABL specific references?
• Can you give us a list of all of the outsource firms that use the product for ABL?
• Ask the lenders about staff retention, is it 50%, 60%, 70%, 80%, 90%, per year?

Not in the game

What About Aging of Credits?

We spend 100% of out time with ABL needs and aged credits represent many issues for Lenders.  Should negative totals be included or excluded?  Should every credit invoice over the eligible days be taken into account?  Should net credit balances in the eligible buckets be reversed?  Should the credits in the aging be frozen in place and then the debits reaged by the software?  We have point-and-click options for all of those options and they have (guess...) none.

• How do you analyze aged invoices over the eligible days?
• How do you analyze aged credits in the eligible days?
• How do you deal with the possibility of double counting negative totals from credit add-backs?
• Show me how to freeze the credits and then re-age just the debits?
• Can it cross-age without credits over 90?
• How would you age credits with no dates?

Not in the game

Currency Conversion?

Currency conversion needs can vary from translating an entire report to one currency or to using different rates for different elements in one report.  More complex examples could include different rates for different reports and the elements within those reports (e.g., Multiple agings that contain multiple currencies each).  AssetReader can handle all of that.

• What currency conversion support do you have?
• How do you handle different currencies in one report?
• How do you handle different currencies in multiple reports that are all imported and combined at the same time?

Not in the game

Contractor Ineligibles Collateral Using Job Numbers

Job numbers, job-based ineligibles and ABL are almost incompatible because of name grouping vs Job Number analysis.  Where the AP contains job numbers, the software can calculate the cross-aging and contras by job number and then the rest by name.  Even where the Job Number is in a name field or combined with another field, these can be split-out.  This industry specific hybrid setup is unique and built-in to meet the needs of contractor financing needs.

• How do you handle contractor receivables by job number?
• Can you run contras by job number instead of name?
• Can you run cross aging by job number instead of name?
• How do you split-out the Job Number when it is in the Customer Name, Vendor Name or is combined in another field?

Not in the game

Legendary Support:

Fast support that gets users answers and code changes for their specific report needs in hours.  We've looked at thousands of ABL specific reports (we process agings for some lenders every day as a service) and we know the tricks and workarounds that you need to get the job done.  But we can quickly modify the software to handle unusual problems and nobody offers that except for FinSoft.  Our users know that we are fanatics about ABL and the support of our products, they'll tell you so.  Our competitors have ABL as a sideline to their core business and they just don't have an ABL specific focus with the FinSoft level of support.

• Can a bug be repaired in hours?
• Do the technical support people understand what ABL people are looking for?
• Have the technical support people ALL worked on ABL specific reports and problems?
• How many years of ABL experience do you have in tech support (lowest, average, highest)?
• What are the technical support hours?
• Can technical support help me convert or setup a difficult / problematic file?
• Can a custom date function be delivered to someone in the field?
• Do the support people answer the phones on weekends and at night?

Not in the game

Technological Investment:

While some have not spent once cent on ABL, FinSoft invests heavily in technology and that is why our BI, AI and ML have all been evolving since 1998.  We've invested the equivalent of buying a new Porsche every year.  Even if they keep programming right now, they would still be more 20+ years behind our development for ABL.  In 2014 FinSoft released Reader-R2, a complete rewrite of the software that takes advantage of faster processing with multiple core computers and support for either 32 or 64 bit Windows.  Since then, we've evolved to the latest programming platform, and added new tweaks along the way based on real-world ABL specific feedback from hundreds of ABL customers.  Support for multiple trap levels, offsets and multiple floating traps is second to none, but we make it easy to use too.

What does our time investment mean to you?  Software is "evolutionary" and that means more of our time adds more features and tweaks.  More ML and BI and AI to get the job done.  We thought the first version of AssetReader was a "good start."  Now, we're 24+ years ahead of anyone in the ABL space with those thousands of hours of tweaks let you download, import and get reports in that nobody else can.  Our ML and AI adjust for exceptions that nobody else can and that nobody else takes the time to deal with or they have not yet seen.  We support more import and ineligible options than any product available in Commercial Lending.  A well-evolved product is key to your success for features and reliability; we never stop investing in new enhancements that lets you get the work done fast and completely.

• Can they show you the actual ABL features that hey have invested in?
• Who are their on-staff experts and what is their background in ABL?
• Do they outsource support for ABL?
• Can they show you the ABL features that they have enhanced and tweaked over time?
• Can they explain the enhancements and evolution on every screen and how those things are ABL specific in their product?
• Do they constantly enhance their products with a keen eye on ABL needs?
• How many years of enhancements do they have for ABL?
• Can they show you the newest ABL tweaks that they have made?
• Does their product integrate with AssetWriter field exam software?
• Does their product integrate with AssetArchive data analytics and confirmation software?

Not in the game

In-House and Outsource Support:

The ability for you to use AssetReader or have FinSoft setup or process your files on a regular basis makes imports easy and further supported.  This allows you to do the work in-house and still have our support if people leave or become ill.  Use our processing services or just our software and not be tied into a "service only" company that won't sell you their software or won't evolve it further.

• Does one setup file get used again on the next import?
• Does it run multiple report pieces or consolidated ineligible reports?
• Can the provider help you setup the templates?
• Can the provider take over accounts if you lose employees?
• What qualifications does the vendor have to do Ineligibles?
• Will the service let you buy the software to do this in-house?
• What does it cost to buy the software and maintain it?

Not in the game

More Date Formats:

Dates can be formatted in highly unusual ways and this requires programming support that includes patches to deal with specific date problems that range from MDY to YMD formats, but include unusual cases where the dates are text labels or formulas that don't convert in any other product.  The software detects date changes in the source files to further automate the imports.  When needed, fast turn around time gets users a programmed solution in hours.  Without this support, the reports can be useless, you're stuck in the field and you're wasting (not saving) time.

• How long does it take to get a date workaround programmed?
• Do you think that everyone can program a custom date function?
• How often are service packs released?

Not in the game

Training:

Training sets us apart too.  Rushing the training or treating the learning process as a "chore" or "task" to simply "get it done" is an attitude that we have never had.  We have perfected the Data Analysis Techniques for Auditors (DATA) class taught to the ABL industry through Clear Choice Seminars, Inc. and the training includes 100% ABL examples and much more.  Note that FinSoft handles agings for some Lenders with processing services, so we see ABL related reports every day.  Our Managing Director has trained the people that are teaching other "Advanced" courses in ABL and he's the architect of www.ABLTrain.com and ABL-Help.  While others focus on their program only, we work on dealing with the client, the files and getting those files to your desk.  We train for your success.  Furthermore, we bring this together with practical ABL examples and file conversion skills that quickly teach new users how to handle ABL reports.  The software Help system has a lot of this too for reinforcement of concepts and fast F1 help support.  Our on-line library of self-paced classes, updates, tutorials and example files continues to grow on a regular basis.  Sorry, but nobody else has this level of trainer, ABL information and focus for Asset Based Lending.  Do you want to learn anything less than what we offer?  Do you want to learn from ABL professionals or just a software trainer?  Do you want general accounting parsing software or ABL Specific software with ML, BI and AI that includes education from ABL experts?

Our courses are NASBA compliant for CPE credits and are produced by an affiliated training company that sets objectives and desired outcomes using cases that build-up in difficulty.

• What specific ABL cases are used in the class?
• What expertise do you trainers have in ABL?
• How much time do they spend on how to get import files and handle the tough ones?
• How much time is devoted to file formats?
• What percent of the example cases are ABL specific?
• Are the courses to NASBA standards for compliance and CPEs?

Not in the game

NO Programming!:

No programming by you because our ML and AI do a lot of the lifting.  WE MUST COMPLETELY DISAGREE WITH ALL OTHER SUPPLIERS OF PARSING AND ANALYSIS SOFTWARE ON CLAIMS ABOUT EASE OF USE, AI and ML.  THEY MAKE IT HARD AND EVEN HARDER FOR ABL AND IT IS NOT EASY WITH THEIR TOOLS!  SOME EVEN HAVE A SONG AND DANCE TO TRY TO GET YOUR ATTENTION.  Perhaps their advertising should talk about the TRUTH of how HARD it is to get the job done with their tools (i.e., not as easy as unbuckling your boots, driving or riding a bike but more like rewiring your house).  Since they lack all of the ABL specific features noted here, just how do you think that:

The ineligibles get calculated for Accounts Receivable?
The ineligibles get calculations for Inventory?
The field formats get set?
The Overrides for specific debtors can be set for Concentration, Cross-Aging and extended days (e.g., 120 days) for some?
The International and Affiliated get eliminated?
The Sales get grouped?
The Sales transaction codes get summarized?
The contras get calculated?
The concentrations get grouped?
The Stats get grouped?
The bad date formats get fixed?
The over-counted ineligibles get identified?
The setup remains ready for the next import?
The different accounting systems get consolidated?

 We hope your answer was not "Spreadsheets" or "We don't."

We have automated reports for ineligibles, sales journals, cash journals, GL journals, AP agings, contras, concentrations, ineligible summaries, ineligible detail reports, inventory perpetual reports, inventory use or cost of sales reports, customer name/address imports, vendor name/address imports and more so that you don't have to spend any time on these calculations or report builds.  ASSETREADER USERS COMPLETE TASKS IN 10 MINUTES THAT OTHER TOOLS CANNOT DO IN 2 HOURS!  That includes Stats, Ineligible AR, Contra analysis and Inventory analysis too.  Our ineligible calculations are the most detailed in the industry and they are automated for first time and repeat import calculations.

• If it is so easy, why do you need to use IF statements to get results?
• If it is so easy why do you need to write custom reports?
• If it is ABL enabled why the need to setup each calculation (where are the pre-defined calculations)?
• If it is so easy why do we have to send some reports to you for pre-processing?
• Why the need to build ineligibles in pieces and not one report?
• Why the need to fix formats for many columns?
• Can you show me the ABL specific reports that are fully automated?
• How do you re-age a report with a column of unapplied credits and retainages?
• How do you deal with agings that have more than one amount listed for a single invoice?
• Why do you need custom date functions (math formulas) to convert complex and unusual date formats?

Not in the game

Fast - Fast Stats:

Monthly analysis of stats has always been a huge chore for examiners.  Grouping by transaction code and by month is possible with other tools, but it is expected in AssetReader since downloads can include months or years of data.  Once again, we expect this and the reports automatically detect the months and best format for ABL presentation, but others require you to do monthly imports and then try to figure out the date splits and the way to summarize the numbers for ABL purposes.  We've been doing ABL for 25+ years and they just don't do ABL at all.

• How do you analyze AR Stats, by month from a G/L report?
• How do you analyze AR Stats from a billing journal?

Not in the game

The Worlds Smartest Contra Analysis:

For those willing to do contras electronically, we do not look at just the first "N" letters (say first three, four or any number that you set).  That primitive approach misses too many items.  We use sophisticated AI and ML algorithms that are used by scientists and the US Census Bureau with specific ABL modifications to extract similar names.  For example, we match on "US Department of Energy" and "Dept of Energy" and "US Dept. of Energy" while excluding "US Department of Interior" and US Dept. of Labor"  Once again, the other tools have no clue about what ABL people want.  How about Contras by Name or Name and Number or by Job Number (construction), we handle that too.

• How are contras computed?
• How sophisticated is the contra logic?
• How does the Contra for Walmart and Sams Club work?
• How much do you need to program or query to do it?
• How do you bring in Accrued Purchases to be combined with AP for the contras?
• How do you do Contras by Job Number or similar and not by name?

Not in the game

Partial Ineligibles:

Ineligibles can include partials such as concentrations and contras and Partially LC Backed international receivables.  Then there are partial ineligibles based on specific codes such as DM, FC, Etc.  Then there are total ineligibles such as Affiliates and Cross Aged items.  Do to partial balances, partial ineligibles at the invoice level (i.e., DM, FC) and total ineligibles such as Affiliates, it is possible to double count totals.

The other tools have no clue at all what the above paragraph means.  This is automated in AssetReader and we do indeed look for duplicated ineligible amounts.

• Ask about partial ineligibles?
• Ask about partial ineligibles that are bulk vs. transaction based?
• Ask how the software prevents double counting ineligible items?
• Can I do this for Accounts Receivable?
• Can I do this for Inventory?

Not in the game

FOUR Methods for Over Eligible Day Items Like Over 90s:

It took FinSoft years to get to the point of having four (4) ways to calculate the over 90 items.  It was all planned years ago to flow into our math engine (starting in 1998 and it has evolved since then with refinements that take years and years and years to make), and the planning paid off.  Not just Ineligible columns over 90, AssetReader can also override that with global limits from invoice date or due date or both.  AssetReader also supports overriding specific debtors to give them extended terms and it can also map imported credit terms to translate that into an aging criteria.  All of these methods affect the over eligible days (e.g., over 90) calculations for all ineligible categories such as Contras, Affiliates, Government, International , etc. We actually have a fifth method to reverse the ineligible portion manually.  These are all in addition to the ability to cap / limit any debtors or all debtors to specific debtor-level concentration caps based on these allowed eligible days.

• How many methods do you have to computer the items over allowed eligible days?
• Show us how many ways your system can calculate the over 90s and allow for some over 120 debtors?
• Show us how you can map credit terms to create specific limits for each?
• How do the overrides of over eligible days items flow into the ineligible calculations such as Affiliates, contras, etc.?
• How do the concentration limits interact with the overrides for more days allowed for specific debtors?

Not in the game

Operations and Audit Use the Same Program (share the setups):

AssetReader setups are often shared with Operations and Audit.  Setups done in the initial field exam can be used by Operations to get the ineligibles right and when re-exams are needed the Operations setup can easily be used by audit. 

Auditors might get more data such as sales, cash, GL, stats, inventory usage, Etc., but the model for ineligibles is usually the same and thus the setups are shared.

Other tools are just a bunch of parsed data that is nicely aligned in a table, but without the pre-defined and outstanding calculations and reports that AssetReader has.

• Can the ineligible setups and calculations be used by the field examiners in the field and on their laptops?
• Can the field examiners do the ineligible setups and pass that model to operations and visa-versa?
• Can setup files be e-mailed to and from the Examiners in the field?

Not in the game

Realistic Fraud Prevention:

There is a good chance that we helped turn down a deal that you still have.  We get calls and emails about this on a regular basis.  Even some of the largest ABL shops that use other products are on this list of "Whoops we missed that."  Not a good list to be on, but our users are finding fraud, overstated balances, incorrect ineligible calculations, missed ineligibles and plenty of over-advanced lenders that have missed how easy this can be because of our BI and AI.  When the analysis tool is allegedly easy to use, Etc. and these things are missed due to poor reports and the (real) lack of "ease of use," then is it powerful? 

We look for duplicate invoices, round dollar amounts, duplicate invoice amounts and skipped invoice sequences, but we give you items to investigate that make sense from an ABL risk standpoint.  Our reports are ABL specific and the analysis is ABL specific.

We have histograms of the data too, to help find hot-spots such as pre-payroll invoice spikes, credit and rebills or reversing entry activity that goes against collateral.  Standard deviation-based "bin" histogram distributions too.

Data can be exported to AssetArchive for more data analytics over time and that includes trends, new debtors, significant changes in debtor balances, debtor invoice amounts and more.  That level of analytics can spot fraud as soon a you get new reports and items can be selected for confirmations based on rules and exceptions with an optional module. 

 They just don't offer this level of ABL Specific intelligence.

• Ask about fraud prevention?
• Ask about fraud prevention using detailed data over time?
• Ask yourself if you will have time to look at their potential findings?
• Ask yourself how long it will take to chase-down anomalies from these tests?
• Ask yourself how the potential risk applies to ABL?

Not in the game

Exports To AssetWriter Field Exam Software:

The only tool licensed to Export to AssetWriter field examination software.  This allows users to quickly export ineligibles, concentrations, delinquencies, billing test selections, count selections, cost selection and other data directly to the world's most popular ABL audit software, saving hours of time.

• Can they export to AssetWriter?
• How fast can the results be converted to your summary format for Field Examination needs?

Not in the game

Exports To AssetArchive Data Analysis and Confirmation Software:

The only tool licensed to Export to AssetArchive data analysis and confirmation software.  This allows users to quickly export historical data directly into the AssetArchive data analysis database for time series analysis that can identify questionable amounts, balances or conditions.  That same questionable data can be targeted to confirmations for further fraud reduction efforts.

• Can they export to AssetArchive?
• Can they do data analytics from time series data?
• Can they spot risk-based data on a monthly basis?
• Can they produce risk-based data for smarter targeted confirmations?
• Can they reduce fraud risks with little additional costs?

Not in the game

Years and Years of Experience:

With 39+ years of experience in ABL, our Managing Director understands the complexities of ineligibles, Stats, Concentrations, Contras, turnover and other things ABL.  We're the authors of ABL-Help, the most widely used guide for ABL ineligibles in the world.  Yes FinSoft knows ineligibles and ABL because that is what we do.  We've invested over 25 Years of programming in AssetReader just for ABL needs.  And they have invested how much time in ABL?  We'll give you a hint... Less than one minute for all other companies combined.

• How many hours of ABL specific coding are in their product? (see above for the answer)
• Can the provider show you the screens and reports?
• What is the ABL background of the support staff?
• What is the ABL background of the training staff?

Not in the game

Inventory Analysis Developed by a Hard-Core Cost Accountant:

We adding the best inventory movement analysis, plus inventory ineligibles.  Unlike any product in the world, we know what you expect from inventory analysis for ABL because our founder is a hard-core cost accountant with 39+ years of ABL audit experience.  Once again, ABL specific!

• Look for the different turnover methods, how many are there?
• Look for excess quantity and zero turn calculations, if any?
• Ask to see how they group across multiple locations or locators?
• Ask to see the inventory ineligibles?

Not in the game

Missing Something in Your Current Download / Analysis Software or Not Downloading Data Yet?:

Get in the Game!

• Ask the questions
• See the FinSoft focus
• See the FinSoft expertise
• See why FinSoft products are used by significant top-tier lenders (we beat all competitors again and again)
• Can you get 10 ABL references and call them to ask all of the questions in this Challenge?
• Take the challenge, we make it easy to be in the game!
• AssetReader is the easiest to use and the only ABL focused data tool.  We're #1 in ABL for the reasons above.

Not in the game