Finventory for borrowers

As a company, you have bigger and smaller dreams. To realise those dreams, a loan is often a crucial element. As a borrower, do you intend to give an inventory as collateral? Then you will have to provide insight into the value and risks. You know the value of your inventory best. In the eyes of your creditor, however, an inventory is a risky guarantee. Thanks to the Finventory platform and knowledge of the recent risks of your inventory, your creditor will be more inclined to enter into discussions with you to grant your company a higher loan.

Finventory does not interfere in the matching or mediation between your company and the credit provider. However, thanks to our accumulated expertise and active network, we can guide you through the world of inventory-based lending. Don’t hesitate to contact us with your specific (credit) question and we will be happy to see what we can do for you.

Transparent and safe

Credit is synonymous with financial data. As a company, you know how important privacy and data protection are. For Finventory, too, the security of your data is an absolute top priority. Our platform is therefore equipped with a high level of IT security and is compliant with the ISO 27001 standard (information security). During the entire processing procedure, you can rest easy: your data is safe with us.

Finventory also attaches importance to the transparent operation of the platform. Clear and easy-to-interpret figures and analyses contribute to a successful cooperation with your creditor. In practice, Finventory ensures that both creditor and borrower always have identical reports and data at their disposal.

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The services for the borrower

Data processing

Finventory offers a technological platform that processes your data automatically. The platform can interface with various data sources such as ERP and warehouse management systems (WMS). The data can be loaded fully automatically on a daily basis, without manual intervention.

Borrowing base

The Finventory platform calculates the most accurate borrowing base. This occurs on the basis of differentiated advance payments and the exclusion of non-financeable products.

Risk analysis

Finventory provides the tools you need to make a thorough risk analysis. These include the configurable key risk indicators and the monitoring of covenants.

Finventory’s Solution

 

 

Frequently asked questions

Who is the platform intended for?

The platform aims to establish a dialogue between creditor and borrower. Both parties will have access to the same information and analysis capabilities. Usually borrowers are introduced to Finventory by the creditor and the creditor pays Finventory. The creditor may pass on part of the costs to the borrower.

How does Finventory collect the necessary information?

Uploading information about companies on the Finventory platform is fully automated. Finventory creates secure links to the borrower’s systems (e.g. an accounting or ERP system or a so-called warehouse management system). This enables Finventory to automatically import the required data into the Finventory platform at the times agreed with the borrower and creditor and to automatically calculate the loan amount for the day in question. Borrower and creditor can also do all kinds of analyses based on the imported data. The borrower retains control of the data at all times. He can check what data has been retrieved from his systems and when, and can also withdraw authorisation to import data from the business systems at any time.

How does the onboarding of a new company work?

The onboarding usually takes place in five steps. Often the borrower is introduced to Finventory by the creditor. The following five steps then ensure that the borrower is connected to our platform:

1.
Finventory organises an intake meeting with the borrower. In this meeting, Finventory gains insight into the borrower’s business processes and the contact persons, while the desired timelines are also determined. Finventory also provides insight into the measures we take to protect the information.

2.
Then the technical connection to the borrower’s systems is established. Finventory has several methods to “talk” to borrowers’ business systems. It depends on the type of system which method is most suitable.

3.
Once the connection has been made, Finventory will arrange the data streams so that the correct information is loaded. We load the raw data and analyse it. We then make the borrower’s data visible on our platform for the borrower.

4.
The borrower checks that the company’s data is correctly displayed. Only if the borrower gives his approval, the creditor can access these data. The borrower retains full control over his own data at all times.

5.
The information is released to the creditor. The creditor, together with Finventory, configures the credit agreement on the platform and the process is complete.

In all these steps, Finventory ensures that the IT impact on the borrower’s systems remains minimal. However, during the onboarding process, an IT expert and a financial expert from the borrower and Finventory will interact.

How does Finventory secure such large amounts of confidential data?

Finventory applies similar security standards that are also imposed on banks:
• Security by design: important architectural changes or changes to the software are submitted in advance to an external IT security expert. In this way, Finventory ensures that the design already meets the safety requirements.
• Code scanning: each new version of the software is scanned beforehand for IT security risks with the help of an external tool. In this way, vulnerabilities in the programming code are already detected during the development process and not only during use.
• Awareness: a company is only safe when its employees are aware of the risks. Our team is trained to understand those risks. For example, we organised a hacker workshop to experience how to break into systems.
• IT security assessment: we let an external party perform a penetration test (hacker test) in which the tester tries to break into our systems. This party gets full access to the programming code.
• Good processes that comply with international standards: Finventory has documented its processes extensively. The processes comply with international standards and are also certified according to international standards (ISO 27001).

I do not have a loan agreement / credit provider yet – can I connect to your platform?

Currently, Finventory works for creditors in the Netherlands, Belgium, Germany and the United Kingdom. Creditors usually assign borrowers to Finventory for onboarding on our platform. However, do not hesitate to contact us. Perhaps we can put you in touch with the creditors that are connected to our platform.

What data will be included in the platform?

The data of a borrower that Finventory imports onto the platform depends in part on the borrower’s business process. For example, perishability data will play a role in a food company but not in a metal company. The Finventory platform supports, among others, the following data: numbers and value of products per location, product characteristics, age of the inventory, inventory turnover and perishability. On the platform, the borrower and creditor are given the opportunity to analyse all these data on a specific day (you get a snapshot of the inventory) or over a whole period (you get a film that analyses the development of the inventory over a chosen period). Transparency is very important to Finventory and all parties are given equal access to the information and analyses.

How does Finventory collect the necessary information?

Uploading information about companies on the Finventory platform is fully automated. Finventory creates secure links to the borrower’s systems (e.g. an accounting or ERP system or a so-called warehouse management system). This enables Finventory to automatically import the required data into the Finventory platform at the times agreed with the borrower and creditor and to automatically calculate the loan amount for the day in question. Borrower and creditor can also do all kinds of analyses based on the imported data. The borrower retains control of the data at all times. He can check what data has been retrieved from his systems and when, and can also withdraw authorisation to import data from the business systems at any time.

How does Finventory secure such large amounts of confidential data?

Finventory applies similar security standards that are also imposed on banks:
• Security by design: important architectural changes or changes to the software are submitted in advance to an external IT security expert. In this way, Finventory ensures that the design already meets the safety requirements.
• Code scanning: each new version of the software is scanned beforehand for IT security risks with the help of an external tool. In this way, vulnerabilities in the programming code are already detected during the development process and not only during use.
• Awareness: a company is only safe when its employees are aware of the risks. Our team is trained to understand those risks. For example, we organised a hacker workshop to experience how to break into systems.
• IT security assessment: we let an external party perform a penetration test (hacker test) in which the tester tries to break into our systems. This party gets full access to the programming code.
• Good processes that comply with international standards: Finventory has documented its processes extensively. The processes comply with international standards and are also certified according to international standards (ISO 27001).

What data will be included in the platform?

The data of a borrower that Finventory imports onto the platform depends in part on the borrower’s business process. For example, perishability data will play a role in a food company but not in a metal company. The Finventory platform supports, among others, the following data: numbers and value of products per location, product characteristics, age of the inventory, inventory turnover and perishability. On the platform, the borrower and creditor are given the opportunity to analyse all these data on a specific day (you get a snapshot of the inventory) or over a whole period (you get a film that analyses the development of the inventory over a chosen period). Transparency is very important to Finventory and all parties are given equal access to the information and analyses.

Who is the platform intended for?

The platform aims to establish a dialogue between creditor and borrower. Both parties will have access to the same information and analysis capabilities. Usually borrowers are introduced to Finventory by the creditor and the creditor pays Finventory. The creditor may pass on part of the costs to the borrower.

How does the onboarding of a new company work?

The onboarding usually takes place in five steps. Often the borrower is introduced to Finventory by the creditor. The following five steps then ensure that the borrower is connected to our platform:

1.
Finventory organises an intake meeting with the borrower. In this meeting, Finventory gains insight into the borrower’s business processes and the contact persons, while the desired timelines are also determined. Finventory also provides insight into the measures we take to protect the information.

2.
Then the technical connection to the borrower’s systems is established. Finventory has several methods to “talk” to borrowers’ business systems. It depends on the type of system which method is most suitable.

3.
Once the connection has been made, Finventory will arrange the data streams so that the correct information is loaded. We load the raw data and analyse it. We then make the borrower’s data visible on our platform for the borrower.

4.
The borrower checks that the company’s data is correctly displayed. Only if the borrower gives his approval, the creditor can access these data. The borrower retains full control over his own data at all times.

5.
The information is released to the creditor. The creditor, together with Finventory, configures the credit agreement on the platform and the process is complete.

In all these steps, Finventory ensures that the IT impact on the borrower’s systems remains minimal. However, during the onboarding process, an IT expert and a financial expert from the borrower and Finventory will interact.

I do not have a loan agreement / credit provider yet – can I connect to your platform?

Currently, Finventory works for creditors in the Netherlands, Belgium, Germany and the United Kingdom. Creditors usually assign borrowers to Finventory for onboarding on our platform. However, do not hesitate to contact us. Perhaps we can put you in touch with the creditors that are connected to our platform.

Interested in knowing more about Finventory?

Finventory helps creditors such as banks to make concrete analyses of your inventory. These insights also benefit your business and enable you to negotiate a loan with numerical strength. Do you have additional questions about the operation and security of the Finventory platform? Or are you looking for a partner to show you the ropes of inventory-based financing? Welcome to Finventory!