Laguna Commercial Capital Implements Bayside Business Solutions’ CADENCE|Factoring Live System
FOR IMMEDIATE RELEASE:
CONTACT:
Bill Greenwalt or Steve Hedin
Laguna Commercial Capital
Phone: 888.800.9510
Email: bill@lagunacommercialcapital.com
steve@lagunacommercialcapital.com
Url: www.lagunacommercialcapital.com
Peggy Gordon
Bayside Business Solutions, Inc.
Phone: 205.972.8900, ext. 251
Email: pgordon@baysidebiz.com
Url: www.baysidebiz.com
LAGUNA COMMERCIAL CAPITAL IMPLEMENTS BAYSIDE BUSINESS SOLUTIONS' CADENCE|FACTORING LIVE SYSTEM
Laguna Beach, CA and Birmingham, Alabama – January 20, 2012 – Laguna Commercial Capital, an innovative commercial finance company, and Bayside Business Solutions, Inc., a leading developer of commercial finance management software, announced today that Laguna has successfully implemented Bayside’s CADENCE|Factoring Live platform to administer its business-to-business lending.
CADENCE|Factoring Live delivers Bayside’s award winning software as a service, with no equipment or software to buy or maintain. This provides the tools and resources necessary for managing every aspect of the factoring and A/R finance business via a secure web portal for a monthly fee.
Bill Greenwalt, Managing Member and CEO of Laguna Commercial Capital said: “It was important for us to have factoring software that could handle issues unique to healthcare receivables such as dilution percentages and the functionality to continue applying payments to fully paid receivables in cases where a dilution factor was not used. Steve Hedin, Managing Member and COO, concurred, saying: “The dilution feature enables our clients to more easily identify specific invoices and batches when viewing them through the ClientWeb portal compared to tracking them on a net realizable value basis. It also enables us to monitor dilution factors on an ongoing basis for adjustment if warranted by historical collections.”
Laguna Commercial Capital also installed Bayside’s ClientWeb Interface and Imaging Module. The ClientWeb Interface allows Laguna’s customers to log into their accounts twenty-four hours a day for a real time account status whenever it is most convenient for them. And the ClientWeb allows those customers to submit information back to Laguna. The CADENCE Imaging Module speeds up processing by scanning vital documents such as invoices and checks for better records management, easier data entry, and quicker retrieval.
“We’re pleased to have Laguna join the Bayside family,” said Russ Opper, Managing Director and CTO for Bayside Business Solutions. “Medical receivables have some unique challenges—particularly the dilutions associated with health insurance payment practices. Laguna has a keen understanding of how that market works. We look forward to working with them as they grow their business.”
ABOUT LAGUNA COMMERCIAL CAPITAL
Laguna Commercial Capital was created to fulfill the financing needs of small to medium sized businesses, with an emphasis on those in delivering medical and healthcare products and services. By providing capital through Factoring and Purchase Order Financing, Laguna helps businesses meet todays operating costs by using tomorrow’s cash flow.
ABOUT BAYSIDE BUSINESS SOLUTIONS
Established in 1999, Bayside Business Solutions is an innovative supplier of portfolio management software to the global commercial lending industry. Bayside has customers throughout North America as well as in Australia, the UK, Europe and Latin America. Its operations are located in Birmingham, Alabama, and include worldwide support capabilities.
