External Parties allow you to group Accounts and/or pay commissions and disbursements to External Parties that you sell finance through. finPOWER Connect stores a record of the contact details for each External Party and their key personnel.
- Each Account is associated with one Dealer, Broker, and/or Bulk Funder.
- If you do not sell finance through External Parties all Accounts may be allocated to the one "Not Allocated" Dealer.
- For a Finance Company with many External Parties this is an important feature as it shows where the Account originated.
- A company with many External Parties may also include an "In House" External Party entry for Accounts sold direct.
- External Party information can be used to group Accounts on reports and statements. The use of External Parties can streamline the reporting operation.