Biz4x Release 2.12: Create an Individual or Legal Customer Record

The recent improvements to our Business Management module naturally and necessarily led us to re-examine the way the Biz4x system handles customer records. The increased global focus on KYC across all financial and professional services means that Biz4x needs to better highlight and flag suspicious customer activity (the very reason why we launched Policy Enforcement), as well as capture more in-depth details about each customer. As such, our first release for 2019 is focused on another improvement for the Business Management module - the input of customer details. In Biz4x 2.12, we are introducing new dedicated screens for two distinct categories of customers: Individual and Legal.

New Customer

Previously, both individuals and customers from legal entities shared a single customer details input screen. The difference was additional fields for Company Name, Occupation, Registration Number, Registration Date and Comment for customers from legal entities.

Individual

With the new interface, you can now choose between the Individual customer details form and the Legal customer details form when registering a customer with the Biz4x system.

Mandatory fields for Individual customers include:

• First Name
• Last Name
• Email
• Nationality

There are new fields related to an individual's employment situation that you can fill out such as:

• Employer
• Occupation
• Industry

The comments field has been expanded and there is a new field for status remarks.

You can also choose to save a customer record as a draft first, if you lack some information about the customer that you will later add to this entry.

Legal

The legal customer details input screen is now geared towards capturing business information about the companies or organisations that you are registering as a customer. Mandatory fields include:

• Name of Business
• Business Nature (You can set up different categories for selection under the Customer groups feature)
• Registration Number
• Country of Incorporation
• Registration Date
• Email
• Telephone

There are fields to choose between different company types (Sole Proprietorship, Partnership, Company, Limited Liability Partnership, Limited Partnership) and you can input both a business and a mailing address which can be the same or different.

A key difference in the Individual and Legal input forms is the way contact details of individuals associated to a legal entity are recorded. Several individuals can now be linked to a business record with the Add New Contact option. Mandatory fields include ID numbers and the role these individuals play in the legal entity. These roles can be used to assess the type or amount of transactions that can be conducted with these individuals.

Contacts are also assigned different statuses: Active and Inactive. An inactive contact would be one that you have deleted previously.

As with the individual customer input screen, you can upload documents, run a compliance check or save these records as a draft.

Customer List

If you navigate to the Customer list, you will see that we now have different icons to represent legal or corporate records and individual customer records.

Each icon is accompanied by an indication of its status. Green dots indicate live or active records, while red are deleted records and black are records that are in draft. A customer record can also be in a pending state. Such states indicate that these customer records require a higher level of KYC checks such as approval by senior management, before they can be officially created or saved into the system. If you would like to enable the Pending feature for customer records, so that every single record that is created needs to be approved, get in touch with our team at support@biz4x.com and we can get that configured for you.

You can also click on the arrow to view the expanded list of contacts that are linked to a legal entity.

Dashboard

Extra Info

Under the New Transaction section of the main dashboard, you can now add extra information to transactions without creating a customer record.

The dedicated transaction interface also has a new Extra Info section where travel details can be added to each deal.

Print Draft Receipt

We've added a much requested feature on the New Transactions widget on the dashboard, the ability to print draft receipts before saving a transaction. This will allow you to provide a quote to customers on how much they will expect to pay for a transaction without this transaction being recorded by the system.

In the event that the Print Quote option is not available, check your transaction settings or requirements for enhanced due diligence. You may need to specify some details about the transaction, create a new customer record or attach customer details to that particular transaction to satisfy enhanced due diligence requirements before you can Print Quote.

You can print the actual receipt once the transaction has been made by clicking on Settle Deal, which will take you to another screen where you can choose the option to Print.

Botswana Receipt

On the topic of receipts, we have a new receipt format for our customers in Botswana. If you would like to use this receipt, you can reach out to us at support@biz4x.com and we will set that up for you.

We are excited to kickstart another year of upgrades to the Biz4x platform with our very first release for 2019, Biz4x version 2.12. If you have any feedback, suggestions or comments on the new customer features or receipts in Business Management, let us know and we'll work to accommodate your requests in future releases!