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Constellation Financing Systems Announces Latest ASSET Software Version

June 04, 2013, 06:45 AM
Filed Under: Industry News

Constellation Financing Systems, a subsidiary of Constellation Software, Inc. announced  the newest release of ASSET, lease and loan portfolio management enterprise software, version 4.2.12.

“This is by far the largest release with almost double the typical improvements over the last 2 releases combined. “  Said Susan Foster, vice president of Constellation Financing Systems.  “This release delivers new functionality further empowering organizations to move beyond basic software asset management to achieve greater financial control, savings and efficiencies through software optimization.”

Enhancements include:

  • Enhanced Security Features, including Password Self Service and Audit Shadowing (logging a user’s navigation of each screen click and button pressed in the system)
  • New Financial Amendments:
    - Change Residual Mid-Term
    - Deleting of additional cash flows mid-term (income/expenses)
    - Rewinding all Transactions on a contract based on a Date
    - Support ability add expenses/additional income to contracts in bulk
  • Extend the Securitization features to allow the user to upload a list of pre-selected contracts to securitize
  • Support for Non-Accrual Operating Leases
  • Extension of accounting options for Non-Accrual Loans
  • Support Ability to Amortize Loans over a different period from the term (i.e. Amortize a loan over 25 years, then have a contract term of 5 years)
  • iLien Interface for UCC filing
  • Support for Bulk Asset Level dispositions (i.e. terminate 20 assets at one time)
  • Integration with SuperTrump to manage U.S. Tax Depreciation
  • Integration with Taxware to manage sales taxes on a global basis
  • Management of Customer Reserves (i.e. customer has a 20,000 Security Deposit – maintain that reserve balance and allow the customer to earn interest on it)

 “We believe this update will enhance our existing clients experience as well as attract large organizations in the near term, impacting the growth of our business.  The broad set of new capabilities in ASSET for Enterprises helps our customers meet the challenges of compliance and optimized software spend in today's increasingly complex IT environments,” said Foster.

Constellation Financing Systems, a part of Constellation Homebuilder Systems, is a premier software and service provider of CRM, origination, credit, document management, and lease and loan management software and related services to leading financial institutions, leasing companies, and equipment manufacturers. Clients include a diverse mix of 90+ North American bank, captive, independent, municipal, and specialty finance firms using both licensed (software) and hosted (cloud) solutions.

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