|
IFexchange
A specially designed communication system - IFexchange - is used by all Members and Partners of the IF-Group. IFexchange takes care of all Electronic Data Interchange within the IF-Group and enables companies to work with each other in the most effective manner.
Modern Internet communication technology overcomes differences in languages, formats, procedures and time zones. Transactions are exchanged instantaneously between companies on different continents, without any manual intervention. IFexchange is specially designed to streamline the process of information exchange. Credit approvals, invoice and payment information is instantaneously transmitted between computers on a daily basis.
IFexchange also significantly reduces the work involved at the receiver's end, by eliminating the need for tedious manual re-entry of data.
Designed to interface with large computers as well as allowing manual data-input via an Internet browser, IFexchange is the backbone of the IF-Group's efficient and effective way of communicating.
IFexchange is more than just a Message Handler
The IFexchange system is a Value-added System, managing the electronic exchange of standardised transactions between different companies. In addition to the pure exchange of data, it also performs a number of value-added functions:
- IFexchange checks, controls and validates the transactions sent to the central message handler. The system rejects invalid and/or incomplete transactions. This function guarantees that the recipient receives transactions, which have already passed a large number of validations and syntax controls.
- IFexchange stores and keeps track of all transactions sent and is capable of issuing an audit trail report at any time. This function gives both the sender and the recipient the power to monitor whether transactions have indeed been correctly exchanged.
- IFexchange provides its users with a great deal of management information about the credit approval process and other essential statistics.
IFexchange calculates and reports the net positions of all commissions due between Export Factors and Import Factors.
| 
