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  1. #1

    Merchant Cash Advance Software for Direct Funders

    Does anyone know of a good, robust Merchant Cash Advance Software for Direct Funders?

    Key needs include:

    1.Good workflows and work rules for Sales, CA's, Underwriting, and funding files.
    2.Monitoring daily remittance via ACH, Lockbox, Split funding repayment methods.
    3.Access portal for merchant and clients during process and remittance.
    4.Web Based

    We have looked at both FundPerfect, MCATrack and Invogen so far but want to see what else is available in the marketplace.

    Please no comments about syndication as we are not interested.

    Your input would be greatly appreciated...Thanks.

  2. #2
    Benchmark has a great system

  3. #3
    I believe that's MCATrack...Thanks though for feedback isaacstern

  4. #4
    Senior Member Reputation points: 903 Scott Williams's Avatar
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    Businesscap - What have you found to be the average cost either per month or year for these 3 systems (FundPerfect, MCATrack and Invogen)?

  5. #5
    Wide ranging depending on how robust a system you want.

    We are interested in a robust platform that would be web based but secured on our servers so our budget is $30,000 and up.

    As for the ones I mentioned, Invogen and MCA Track are much cheaper options and per user pricing ( in the $100's per user). They are a good start for companies just getting started in funding.

  6. #6
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
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    ahh so you want standalone software. Nothing wrong with that. The thing is though that you should expect to do A LOT of development to customize the system to the way you want it, plus there will always be a need for ongoing development as the industry and your business changes. If you buy something like fundperfect, you are going to be paying for their guys to expand it for you.

    I don't know if you can buy the source code from sysarc but if you did that, you would still need to hire in-house developers to customize it.

    I'm not familiar with Invogen so I can't offer an opinion on it. Just know that buying a self-hosted MCA specific CRM isn't as cut and dry as people would like it to be. The market to buy those kinds of standalone systems in this industry is very small so not much effort was put into making them. Those software companies make their money on fixing their buggy code and customizing it for you. Expect to pay more than 100k in fixes and add-ons.
    Last edited by Sean Cash; 03-25-2014 at 06:16 PM.

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