“Atos Origin and Fidis announce partnership to launch factoring add-on”
Zaventem – 3 November, 2004
A unique factoring package based on mySAP ERP
Atos Origin, a leading international information technology (IT) services company, and Fidis, a German provider of financial software & services, today announced a partnership to launch factoring add-on. This first ready-to-work solution for factoring, developed on the basis of SAP/R3, guarantees performance and long-term protection of capital investment. The offering is addressed to corporate operations on international scale. The two companies will jointly provide an application giving all the advantages of powerful financial accounting, a comprehensive and variable reporting system.
The challenge that Atos Origin and Fidis faced, was to develop an add-on to the mySAP ERP, the world's leading ERP software, combining both the strengths of a strong standard and the advantages of individual applications, thus fulfilling the demanding functionalities required in the factoring industry on single term basis.
The openness of the application allows factoring companies and multinational companies that centrally manage their group receivables to easily adapt their business models. The main task of the add-on is to deliver transactions processing the factor and customer business needs of the factoring industry and to manage all the data according to customizable rules. The add-on also helps improving communication, transparency, collaboration between factor, customer, debtor, credit companies, therefore creating added value in establishing real partnerships.
Henri Van Engelen, Managing Director of Atos Origin Belux explains “This is the first time that specialists from the factoring industry and experts from IT started a development in a live environment for standard factoring solutions.” He adds, Fidis' knowledge of the business needs of the factoring industry in different countries, their expertise in the integration of new developments, combined with Atos Origin's proven commitment and capability enabled us to bring this brand new and unique solution to market”.
“It is important to the factoring industry, as in many industries, to ensure efficiency, protection of investment and guarantee the future”, says Otto Johannsen, Managing Director of Fidis. “Another key element is combining all the advantages of a strong standard with the strength of individual adaptation of business needs, at an international level. Our partnership with Atos Origin means we benefit from their expertise in developing software for special purposes based on the mySAP ERP platform. Atos Origin's proven expertise in project management, its strong marketing support and sales force drive, along with our working relationship over the last four to five years also made it an excellent choice to partner with them.”
Atos Origin and Fidis' add-on solution enables:
- Reception and processing of adherent movement data files (factor side)
- Enhanced payment allocation (factor side)
- Easy data migration by standard and dynamic interfaces (adherent side)
- Confirmation treatment of invoices accepted by the factor: automatic postings (adherent side)
- Outgoing payments according to “availability”: four eyes principle
- Commission calculation
- Online reporting
- Business warehouse reports
- Treasury functions: extended cash management, interest calculation, currency hedging
- Pre-collection and dunning functions driven by workflow: daily overdue for the risk department, weekly overdue for the adherent
- Numerous workflows: limit verification event, payment promise, handling of disputes
The add-on solution offers three different modes of customer relation: licenses, application service providing and business process outsourcing.
The add-on solution also enables integration at all levels. Fidis is able to, for instance, integrate established external software, e.g. for address validation and limit handling, and to take over business models deviating from the standards into open standard. This means effective integration of established software in the sense “ready-to-work” – “easy-to go”.
About Atos Origin
Atos Origin is an international information technology (IT) services company. Its business is turning client vision into results through the application of consulting, systems integration and managed operations. The company's annual revenues are more than EUR 5 billion and it employs 45,000 people in 50 countries, 750 in Belgium and Luxembourg. Atos Origin is the Worldwide Information Technology Partner for the Olympic Games and its clients include ABN AMRO, Akzo Nobel, Alstom, BNP Paribas, BP, Ericsson, EDF, Euronext, Fiat, France Telecom, ICI, ING, KPN, Lucent, Philips, Renault, Royal Bank of Scotland, Saudi Aramco, Schlumberger, Shell, Telecom Italia, UBS, UK Department for Work and Pensions, Unilever, Vivendi Universal and Vodafone. For more information, please visit the company's web site at http://www.atosorigin.com/be
Atos Origin is quoted on the Paris Euronext Premier Marché and trades as Atos Origin, AtosEuronext, Atos Worldline and Atos Consulting.
Fidis financial software and services is specialized in developing software for factoring and ABS. Founded in 2000 Fidis starts its proof of concept with its first customer. Now, four years later, Fidis proved to cover the business needs of all product differentiations, to adapt different business models and modes, to fulfill the business needs in different countries and to handle efficiently very high volumes. For more information, please visit the company's homepage at: www.fidis.com
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