April 2015 was a busy month for the MCA Suite team. We are pleased to share the following new features on MCA Suite, the leading merchant cash advance CRM in the marketplace:
1. New dashboards. There are two new dashboards: Direct Funding and Investor Funding. The Direct Funding dashboard contains all merchant cash advance deals without syndication and is broken up into current deals (deals with an amount outstanding/current balance) and all deals in the Funder or Broker’s MCA Suite instance.
The Direct Funding dashboard tells Funders the total cash advances they have funded directly, and tells Brokers the total amounts they have helped merchants get funded.
The Investor Funding dashboard shows deals set up with syndication partners, and can be filtered by Funders. Investors use this dashboard to see their total investment across multiple Funders or a selected Funder.
2. Ability to set payments per month to determine a deal’s estimated turn and expected turn. Estimated turn is the number of days a Funder expects the merchant will need to repay an expected payback amount (also known as Purchased Amount or Right to Receive “RTR”). For the ACH collection deals, which need to take weekends and bank holidays into account, Funders need the flexibility to set an estimated number of payments it expects on a monthly basis to determine the time it takes a merchant to repay the expected payback amount. Using daily collection amounts and the payments per month values, MCA Suite can calculate the estimated turn as well as the expected turn more accurately using actual daily collection numbers.
3. Clients using MCA Suite to manage their syndication deals can now make bulk withdrawals from one investor page as opposed to going to each individual deal to manage withdrawals and balances. Users can go to the investor company’s deals page to view a running balance of that investor’s target collection and running balances. Users can now click on the withdraw button to make a mass update to all balances for that investor.
4. Modifications were made to refinanced deals to display more information linking a refinanced deal with a previously open deal. The new refinanced Deal Tracking page separates the new principal from the rolled up amount outstanding from the previous deal, allowing funders to track each deal’s performance.
5. The Deal Search page now contains more key information for easier access and quicker reference. Users can now see a funded merchant cash advance deal’s payment percentage right on the main Deal Search (Landing) page. Deal source and creation date are also displayed on the main Deal Search page.
Export features are available for the “Deals” and “Contacts” main search pages. Users can now download the information based on the filters they have set on the page.
Our team will continue to make improvements to the MCA Suite for the rest of Q2-2015. Please contact us with suggestions and how we can improve our product for you.