Seyfor's solution saves time and money even to customers far beyond the borders of Europe. One of these is South African financial company Propell, which has now made its monthly processing of loans much clearer and more efficient thanks to Loans Express App.
A solution for the South African Republic
Propell, based in Cape Town, South Africa, provides its clients financial services focused on funding solutions. To smoothly handle these tasks, the company decided to implement Loans Express App in 2019.
The Loans Express ensures quicker and more accurate month to month processing. The ability to update and process loans in bulk is quite handy.
Thanks to these properties, it can be easily deployed anywhere in the world and the implementation process is made significantly easier through the app's connection to Microsoft Dynamics 365. In addition, the application is quick to adapt to local legislation.
Goals and requirements
The main goal set by the representatives of Propell was to automate specific tasks associated with instalments, interest and management of capital. Loans Express was a good option to replace the built-in functionality on Great Plains accounting software, on which Propell's loans have previously been administered.
As Propell's business analyst Quindan Barnard says: “Loans Express allowed us to process everything efficiently and flexibly. The ease with which you can connect external reporting services (Power BI) to Loans Express and Business Central makes internal reporting a lot easier.”
First contact between Propell and Seyfor was mediated by our partner company, Datasmith. The company organised our initial meeting and participated in first negotiations. Datasmith's key contribution was its detailed knowledge of the processes within Propell and knowledge of the local specificities of the South African Republic, which facilitated and improved the efficiency of subsequent communication with Solitea's implementation team.
During our initial encounter, Propell's representatives also brought forward several ways to improve the functionalities of the app, which were then implemented and thus improved the value of the resulting solution even further. All that was left then was to begin implementation itself.
Acceleration and improved accuracy of the monthly processing
“Without Loans Express we would have to process hundreds of loans and instalments monthly, posting the instalments, capital, and interest manually. The main benefit of Loans Express is that it speeds up the monthly processing of loans while improving the accuracy as well,” says business analyst Quindan Barnard. Without the application, Propell's employees would have to input these processes manually. Automation thus saved Propell a great deal of time and money.
In addition, Loans Express offers other benefits in the form of reporting and prediction. Thanks to these, the company can make strategic decisions based on real and up-to-date data. In the words of Quindan Barnard: “The automated processing speeds up processing and allows for accurate reporting and integration with existing systems.”
Pleasant collaboration even outside of business
Quindan Barnard has nothing but praise for the collaboration with Seyfor. In his words: „Seyfor has been very willing to communicate with us. When informed of bugs within the software, they have seen to the fixes in a timely fashion. Their friendly team (especially Adam Hermann and Eva Pitrunová) has kept open communication lines with us during all changes to the software.”
Which solution does Propell use?
Our customer use Loans Express App – the solution which connects loans operations for credit institutions, loan brokers and financial lessors. If you are interested in detailed information, check our website or book the meeting with us.