AIMS 360 apparel ERP integrates with Hana Financial

 

Benefits of a Factor

AIMS 360, the industry's leading apparel ERP software system and Hana Financial, one of the leading Factors in the fashion industry are now integrated#

From time-to-time clothing manufactures see cash flows become sluggish. While a bank loan will take anywhere from 30 to 90 days to process, a factor can get an approval on cash for unpaid invoices within 24 hours and have that money in your hands in less than a week. Furthermore, clothing manufacturers are often faced with the realities that come with seasonal sales. Through factoring, a business can leverage the benefits of a factor’s accounts receivable management system without the added cost of an in-house credit or collections department.    

 

While fashion businesses are focusing on designing, manufacturing, etc., factors are working continuously to make sure that the business has the capital necessary to pay for materials and equipment needed to make and manufacture goods and pay your apparel business’s overhead and expenses (i.e. payroll and rent).

 

Hana Financial offers:

-Experienced and professional credit and collection teams

-Competitive rates

-Up to 90% advances against the face amount of your unpaid invoices with appropriate documentation

-Quick and flexible responses on credit requests

-State of the art system with online access to view ones account

SBA and residential mortgage programs

-Factor Integration with Apparel ERP Software

 

A key compliment to any apparel factor is an inventory management system. Many factors are seeing the value and the considerable time savings by integrating with fashion software. With the right system in place and managing businesses orders properly, a factor can quickly:

 

-Process invoices

-Make cash flow decisions

-Send cash to the business

 

An ERP system not only makes passing on information to a factor much faster, but it also creates additional efficiencies. The factor simply pulls the information that they need directly from the system or the client can pull it and send it to the factor directly. Either way, the process helps eliminate the need for double entry and reduces the chances of human error.

 

Using the AIMS 360 system, with a few clicks of your mouse, one can:

-Transmit Orders – select and send all orders that have not been submitted to the factor

-Receive Decisions – Request approval or decline decisions from the factor

-Submit Invoices – once orders are shipped, one can select invoices and send them to the factor electronically

 

 

The automation makes the approval process faster, more precise, eliminates double entry, reduces human error and speeds up the time it takes to get funding for any apparel business.

Companies don’t want to lose revenue by missing a shipping deadline because they are waiting for a credit approval to be processed. By implementing the proper apparel software system with factor integration, one can relax while their business runs smoothly.