What is Solar?

Solar is our web native, cradle to grave, asset finance pricing, administration and accounting system

Solar uses Microsoft's .NET framework and SQL Server 2012 with their latest security technology based on Open Authentication Standards

Download the PDF version of these web pages from here: Solar3 overview

What are some of the features Solar has available?

Solar can handle any payment structure and multiple drawdowns and other complex cash flows including commissions, maintenance and insurance

Solar is extremely easy to use as it uses as standard web browser with the controls that users are already familiar with

Solar is available as either a hosted solution or, for larger clients, as an in-house system

Solar provides full portfolio control through a full double entry bookkeeping system with batches, journal types and postings

Journals may be exported to an external general ledger with mappings based on products and processes

Solar has user-configurable workflow with documents and alerts (email or text message) generated automatically as a proposal or contract moves from one stage to another in a workflow

Workflows include proposal management, collections, repairs, servicing and inspections management

Solar has sophisticated decisioning and credit scoring facilities which can be used, for example, to ensure that certain criteria have been achieved before allowing progress of the workflow

Actions and notes within Solar are a single, centralised approach to making diary entries for particular users or groups of users and simply recording the progress of the workflow and any comments users might want to make

The timestamp on actions and notes ensure that proposals are progressed within user-defined time parameters

Solar has a powerful calculation engine which is used for pricing, income, variable rate and settlement calculations to ensure consistency throughout a contract's lifecycle

Solar has a marketing campaigns management module to email special offers etc. from its contacts database and track responses

Solar may be used with just one company or any number of companies may be used and reports generated for each company or for all companies

Interest and exchange rates may be defined on a daily basis for an unlimited number of interest and exchange rate series

VAT rates may be updated daily. US Sales Tax rates are retrieved automatically by ZIP code for state, county, city and special rates with the detail stored for settlement purposes

VAT and Sales Tax rates are applied at the time of invoicing which facilitates the application of changed rates

Data changes may be audited and alerts raised when especially sensitive data is changed. Some data changes may require "four eyes" which means that a second user has to authorise any changes that have been made

Users are assigned to a user group which determines which menu options are available to that user. Only those menu options are displayed to him or her

Any number of contacts may be attached to a contract, for example, third parties such as guarantors, insurers, dealers, joint hirers or brokers

Solar can control any number of contracts. Each Contract is attached to a Company, a Customer and a Product

Credit limits may be maintained by contact (customer, supplier and so on) by product (HP, lease etc.)

Each contract has a “main asset” and any number of “sub assets”. Sub assets may be added or partially settled at any time with the payment profile and accounting updated automatically

Solar maintains detailed cash allocation records with a single cash receipt being available to multiple contracts and individual invoices may be settled by multiple cash or credit notes

We have some further information available at:

Financial Products

Schemes

What about reporting?

Solar has both standard reports and user-defined reports edited using a user-friendly drag and drop editor

Reports may be generated to screen or exported to PDF, Excel or Word thus facilitating emailing of reports and invoices

Solar has a word like document editor with mail merge facilities for contracts, letters and other documents

Solar stores inbound scanned documents and outbound generated documents in a separate database ensuring that an exact replica may be regenerated if required

Does Solar interface with third party systems?

It is straightforward to interface Solar to other systems for both input (eg cash receipts) and outputs (compliance reporting)

Solar has a standard interface to BACS (including AUDDIS) and also to SEPA for Euro denominated collections