ECL Releases New Version of Fund Control
Huntington Beach CA, June 26, 2008: Huntington Beach-based risk management software company ECL Software released the latest version of their Fund Control risk management product for construction lenders.
In the past, risk management has been viewed as simply monitoring independent risk factors, whereas the industry has become keenly aware of the need for a more holistic approach to risk management. Fund Control, the most comprehensive solution available to manage all types of construction loans, residential as well as commercial projects, is designed to assist the construction lender with managing risks inherent throughout the entire process including completion monitoring, disbursements, budgets, variances, property inspections and document tracking.
Bankers and financiers have received Fund Control with enthusiasm as it automates construction lending and improves the efficiency of the entire lending process, but the latest enhancements to the solution deliver even greater control and flexibility to risk managers and project managers.
This latest enhancement in functionality not only allows lenders to identify their own risk criteria and sensitivity levels to variances, but also allows them to prioritize each risk factor so that overall project risk is weighted based on the importance of the risk to the project or portfolio as a whole. Further, lenders may set these criteria themselves from project to project so that completion percentage may be the driving factor on one project, whereas inspection schedules may weigh more heavily on another.
This new enhancement delivers a truly holistic approach to risk management.
About ECL: Eclectus, Inc. (dba ECL Software) develops award-winning risk mitigation solutions for all aspects of the Construction Industry; Banks and Commercial Lenders look to Fund Control (FC) and Fund Control on the Web (FCW) as a comprehensive construction lending solution, while Contractors and Subcontractors benefit from ECL’s Construction Management Information System (CMIS) package. ECL’s powerful Software solutions reflect its founders 28 years of building industry and computer software innovation experience. For more information contact (800) 625-5972 EXT: 212