Playground
Flex Playground is an instant cloud-based calculation engine for out-of-the-box integration into your ecosystem. Flex. creates an ecosystem of value across multiple functions, systems and industries to fuel growth and propel you into the future by increasing delivery efficiency and product management. Flex playground provides its flexibility by one-stop calculation need of credit industry covering all of the calculation aspects.
Rental & Repayment Plan
The rental and repayment plan calculation screen provides the financial details associated with renting or leasing a product or service, as well as the repayment plan for any associated loans or financing arrangements. It allows users to evaluate different scenarios, understand the costs involved, and make informed decisions based on their financial capabilities and requirements.
These calculations can be parametrized on the basis of rental calculation, repayment plan calculation, start date, payment mode, payment frequency, payment duration in months, lending amount, residual value, interest rate and extension days. Moreover user can input irregular payments and income posting details before calculating rental and repayment plan.
After completing calculations rental details are displayed under term from, term to, rental amount and rental type columns whereas repayment plan displays details under rental number, rental due date, opening principal, rental amount, principal amount, interest, periodic interest and closing principal columns and incoming posting under serial number, rental number, posting date, number of days, from date, to date and amount columns.
Quick Quote
The Quick Quote feature is designed to provide users with a streamlined and efficient way to obtain preliminary lease quotes for various assets. To initiate a quick quote, simply enter essential information such as the type of asset, desired lease term, and any specific requirements you may have. The system will then rapidly evaluate these inputs, generating an estimated lease quote that includes monthly or annual payment details, along with key lease terms. This quick and informative snapshot allows users to make initial assessments of potential costs and feasibility before proceeding with the formal leasing process. Remember, the quick quote is a preliminary estimate, and actual lease terms can be further refined during the formal negotiation phase. Use the Quick Quote Screen to expedite your leasing decisions and gain valuable insights into the financial aspects of your leasing options.
Loan & Lease Initiation
When initiating a loan or lease agreement, several financial calculations and checks are typically performed to ensure affordability. Loan and lease initiation includes:
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Affordability Checks to assess amount of financed amount and down payment.
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Rental Calculation to determine the monthly or periodic lease payment.
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Calculate Rate calculates the interest rate and helps to determine the cost of borrowing.
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Step Rental is used to to calculate rental payments where the lease payments increase or decrease at predefined intervals during the lease term.
Contract Booking
Contract Booking offers a comprehensive suite to facilitate a seamless and structured approach to manage contracts. From defining repayment plans to handling subsidy/subvention details, amortization and accounting postings to addressing dealer/broker commissions and depreciation. Contract booking includes:
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Repayment Plan to craft detailed payment schedules, ensuring clarity and transparency.
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Subsidy/Subvention for effective management of financial assistance within contracts.
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Amortization/Accounting Postings to establish precise accounting records and track amortization schedules.
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Dealer/Broker Commission to address compensation seamlessly through defining and managing commission structures.
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Depreciation ensures accurate representation of asset values over time .
In-Life Modification
In-Life Modification offers users a dynamic and responsive toolset to adapt contracts to changing circumstances. Within this menu, two key features stand out: Change of Due Date and Restructuring. The Change of Due Date provides users with the flexibility to adjust payment schedules accommodating shifts in financial circumstances or operational needs. On the other hand, Restructuring offers a comprehensive solution to modify various aspects of the contract terms. Whether it's adjusting payment amounts, extending the contract duration, or making other essential changes, the "Restructuring" feature ensures that contracts can be tailored to evolving needs during their lifecycle.
End of Term
End of Term provides users with essential functionalities for managing contracts as they approach their conclusion. Features within this menu are Early Payout and Residual Value Extension.
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The Early Payout option enables users to settle their contracts before the scheduled end date, offering flexibility for those seeking to conclude agreements ahead of time.
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Residual Value Extension provides users with the option to extend the term of the contract by adjusting the residual value.
User Management
User management system enables subscriber to manage a network of current and new system users efficiently. The user management covers user profile and definition. All users’ details are entered and saved here to define a particular user. The user details include user basic information i.e. First/Last Name, Email Address, Product(s),Role(s), Contact Number and Status.