Odyssey Professional Fee Funding (PFF) software is a cloud based application offering you with fast, quick and reliable tools at your fingertips to calculate and process professional fee funding applications. Electronic approvals, instant quotations, automated administrative tasks along with extensive reporting and management tools make Odyssey the right solution for any professional fee funding provider.
Odyssey Professional Fee Finance software is flexible and helps a wide range of businesses – from the sole trader to publicly listed companies who want to allow their clients to enjoy the flexibility of spreading the payment for professional services (such as accountant or lawyer’s fees) over an agreed period of time rather than in one large sum.
Electronic interfaces with third parties
Odyssey provides electronic interface with all major banks, building societies and credit unions. The system transmits generated files to the bank for collections and payments as well as receives bank statement files for dishonours and bank reconciliations.
Online credit checks
To automate credit approval process from within Odyssey, Red Planet Software has developed online access to Dun and Bradstreet, Veda and ABR. This can be implemented in various ways, from a basic entity check through to an automated approval decision-making process.
Odyssey is a cloud based application offering secure online access to authorized parties 24 hours a day, 7 days a week. Your Odyssey system can be accessed in the office via your computer or out on the road while visiting clients via your mobile technology such as a tablet or Smartphone.
The ability to provide instant quotes, access loan statistics and gain electronic approvals streamlines business operations, reduces application processing times and offers greater flexibility for intermediaries, agents and clients.
Odyssey allows end borrowers to access the loan online, thus eliminating the time consuming need for signatures and return of paperwork.
This streamlines the process and reduces the time from the borrower receiving the quotation to their acceptance dramatically. Their accepting of the loan online can then trigger the auto approval process, and if successful, the debit for the first repayment. To see how online acceptance works, please click here.
In life loan management
The Odyssey loan system is designed to provide the user with complete flexibility throughout the life of the loan.
The Loan Enquiry facility provides a comprehensive view of all transactions against the loan, loan status, payments due, contract details and repayments schedule.
Multiple payment and collection methods
Odyssey offers multiple methods of collecting payments from clients or sending payments to creditors. These include:
Brokers, agents and underwriters can be paid by cheque or direct credit. Premium, Commission and Sundry Payments can be paid by different methods while remittance advices can be printed, faxed or emailed.
User defined forms and letters automatically triggered
With Odyssey, users can design their own forms and letters, which are then automatically triggered. For example, Contracts, Terms and Conditions and Acceptance letters can be generated at quote approval stage. Overdue Letters 1, 2 and 3 are generated according to the number of days payments remain outstanding. Endorsement, Cancellation, Termination or Finalisation letters are also generated at the appropriate stages.
Odyssey provides users, managers and auditors with the ability to track changes to sensitive areas, such as loans details and client or creditor information, through the use of a time and date stamped notes system.
A sophisticated permission-based user login and password system allows menus to be configured in-house to limit access to different user groups according to requirements. All access is recorded in a security log.
Odyssey General Ledger system has the ability to drill down on any entry to trace user, time and date posted as well as associated entries.
With over 50 inbuilt reports, each Odyssey module has a large selection of reports that can be printed to PDF or to Excel. Some frequently used reports are:
The Odyssey Digital Dashboard offers a real time graphical display of selected information.
There are four versions of the Odyssey application:
Click on the icons for the feature set.