Johannesburg, 04 Nov 2011
Market leader in property software solutions, Korbitec recently launched an innovative payments solutions product as part of its service to attorney clients through Ghost Convey. The solution will run on Xpertek's Acquire software.
Korbitec's software, Ghost Convey, manages the transfer process of a seller's property. As part of the transfer process, property sellers are offered the option of finance to cover the amount of the rates clearance certificate required by municipalities at the time of sale. The payments solutions loan is managed by Xpertek's Acquire solution.
Ghost Convey communicates back to Korbitec's property platform where the deal is scored, and if successful, a loan is automatically created in Acquire. The loan comprises the principle amount, fees and interest owed.
Acquire fully integrates to Korbitec's property platform and produces a disbursement hand-off file to Korbitec's bank to settle the rates owed to the municipality by the seller. In addition, Acquire creates a deal settlement value, valid for a certain period, to be sent to the property seller's attorney for payment. Once payment is received in the bank accounts, receipts are automatically processed. If payment is not received, Acquire produces an arrears report reflecting the overdue amount, which will drive the collections process.
Korbitec, an innovator in property software solutions, required a solution to fit its long-term ambitions for the business. As Xpertek owns the intellectual property, the future of the software can be determined in tandem with its clients' needs. Korbitec can manage the system, as well as create its own reports and documents using Acquire's comprehensive report library, or create bespoke reports after further training on the system. Benefits include:
Payment of rates
* Automated loan creation and payment to municipal councils;
* Fully integrated settlement process and receipting; and
* Daily management information and hand-off files to the general ledger account.
Franz Hirschberg, COO - Korbitec, commented:
“Korbitec is proud to partner with Xpertek in bringing a truly innovative product to the SA property market. Acquire has proven itself to provide the perfect functionality for us to rapidly develop and launch the product to market with the inherent scope to support new initiatives planned for the future.”
For further information about Xpertek's solutions and services, kindly contact Barry Leonard, CEO of Xpertek, on (011) 519 3000, or log on at www.xpertek.co.za.
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