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LightStar Financial Implements Bayside Solutions’ CADENCE | Live System

January 11, 2013, 08:34 AM
Filed Under: Technology

New commercial finance company LightStar Financial Services, which opened in July of last year, and commercial finance software developer Bayside Business Solutions announced that LightStar has successfully implemented Bayside’s CADENCE | Live platform to administer its business-to-business lending operation.

CADENCE | Live delivers Bayside’s software as a service, providing the tools and resources necessary for managing every aspect of a factoring and A/R finance business via a secure web portal for a monthly fee.

“CADENCE is the perfect product for monitoring our factoring portfolios at LightStar,” explained Janelle Glidewell, owner of LightStar, “With large volumes of invoices purchased daily, typically at very small dollar amounts, and multiple payments against the same invoice, we have the ability to easily track and monitor open claims, do monthly trending, and import and export to and from our client’s software programs…”

“We are very happy to welcome LightStar to the Bayside family,” said Marvin McConaghy, vice president of business development at Bayside Business Solutions, “And we look forward to being part of their growth.”

LightStar Financial Services, LLC provides factoring and asset based financing solutions to small and mid-sized companies nationwide in the healthcare industry. Their portfolio consists of clients working in all segments of the healthcare industry, with sales ranging from $25,000 to $750,000 monthly, reimbursed by Medicare, Medicaid, Government Payers, and Commercial Insurance companies.

Bayside Business Solutions is a supplier of portfolio management software to the global commercial lending industry. Bayside has customers throughout North America as well as in Australia, the UK, and Latin America. Its operations are located in Birmingham, AL, and include worldwide support capabilities.

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