Case Study: Preferred Credit Inc. achieves automated financial management with AccountMate

Lender Builds Automated Financial Management System for Unique Needs

Preferred Credit, Inc., a direct sales financing company with 200 employees and two locations, struggled with an outdated accounting setup that required multiple systems across platforms to process loan applications, distributor payments, and customer communications. The company needed a simpler, more accurate business solution that could support its niche financing operations and growing transaction volume, and turned to AccountMate for help.

Preferred Credit implemented AccountMate SQL with the support of iSOFT Systems, LLC, using its customizable source code and CRM module to build a tailored financial management system. AccountMate helped automate daily payment processing, end-of-day close, reserve management, and distributor communications, reducing book-closing work from four employees over four hours to one employee in less than an hour. The new system now supports about 100 wires per day, up to 500 ACH transactions per day, several thousand loans per month, and more than 40,000 payments annually with greater accuracy and speed.

Preferred Credit Inc.

Jim Schwan

Director of Information Technology