Lending Process Flow
Master the end-to-end workflow for processing loans, from initial evaluation to final system recording and AR closure.
The process starts with a comprehensive evaluation of the loan application. External credit checks and internal risk assessments are conducted before any data entry.
Once the loan is approved externally, it is recorded in Phecom ERP by creating a Sales Invoice. This establishes the principal and initial transaction record.
The created Invoice is submitted to the Manager. The Manager carefully reviews the details and chooses to either Approve or Decline the transaction.
After manager approval, the system generates a reference number. This is provided to the Teller to complete the Accounts Receivable (AR) process, finalizing the loan.
The "Closed Loop" Protocol
Phecom ERP ensures that lending operations are protected by strict separation of duties. The Loan Input (Invoice creation) is separated from the Managerial Approval, and the final AR Closure is handled by the Teller. This prevents any single point of failure and ensures that every loan is verified by three distinct roles before the funds are officially processed.
Ensuring financial integrity in lending operations