finPOWER Annual Software Licence Fee Explained

Q. What is the Annual Software Licence Fee?

A. The Annual Software Licence Fee (ASLF) is an activity-based fee for the continued and ongoing use of the finPOWER software. If you are using the finPOWER software you need to have a current Annual Software Licence Agreement and pay the ASLF.

Q. What does the ASLF fee entitle me to?

A. The ASLF gives you, the User a number of key benefits:

• The ongoing use of the finPOWER software.
• Free upgrades to the latest enhancements to the finPOWER software.
• Free upgrades to the latest fixes to finPOWER.
• The unencumbered use of the finPOWER software on your primary database.
• The ability to make suggestions and recommendations to the finPOWER developers for future versions of the software.

Q. What does the ASLF not cover?

A. The ASLF is designed to maintain the value of your software by ensuring you always have access to the latest versions available, however it generally does not cover:

• Training and support provided by your Dealer, however this may be covered by a separate Support Contract.
• Training and support provided by Intersoft.
• Any work undertaken by Intersoft to fix or repair your database should such an unlikely event occur.
• Some material and freight costs.
• Any consultative work undertaken by your Dealer.
• Any custom designed forms or reports.

Q. What is the Annual Software Licence Agreement?

A. The Annual Software License Agreement is a legal contract between you, as a User of finPOWER and Intersoft Systems Ltd. It details all your rights, entitlements and obligations in the use of finPOWER and also those of Intersoft. It will identify which finPOWER modules you are licensed to use and the associated ASLF.

Q. How is the ASLF Calculated?

A. The ASLF is calculated as being a cost per annum per 100 'open' contracts the finPOWER system you use is licensed to. The actual dollar value is calculated by Intersoft and the ASLF is calculated on an annual basis but is charged monthly. Quantity discounts are given for large users of finPOWER.

Q. In Blocks of 100 Active Contracts?

A. The ASLF is calculated on the number of 'open' contracts finPOWER is licensed to, rounded up to the next 100. In any month the ASLF is calculated on the highest number of 'open' contracts the system is licensed to.

Q. The ASLF can be a significant overhead!

A. If the ASLF is viewed as a total annual cost, yes for some finance companies this may appear to be a reasonable amount. However if it is viewed correctly as a per contract cost it is minimal. To this extent many Users of finPOWER simply on-charge this amount to borrowers when establishing a loan.

Q. Is there any minimum ASLF?

A. Yes, in New Zealand the minimum ASLF is $600.00 per annum plus GST, in Australia it it $600 per annum plus GST.

Q. How do I minimise my ASLF

A. Because the ASLF is calculated on the highest number of open contacts per month, at the end of each month review the number of active contacts on finPOWER and, if need be, call Intersoft to relicence the system down to the next 100. This way finPOWER starts the new month with a lowest number of open contracts.

Q. Why an activity based charge?

A. The activity-based aspect of the ASLF is the fairest way of charging a fee that is reflective of the use a finance company will derive from the finPOWER system while maintaining an entry price for the product that is as low as possible. It is important to remember that the charge is based on open contacts only. It is not based per User, per Branch or per Computer as with many other systems.

Q. What if I don’t want to pay an activity based charge?

A. There are Finance companies that do not want an activity based ASLF due to the sheer number of contracts they have. For these companies Intersoft provides an Alternative Pricing option that is more reflective of the true value of finPOWER but offers a fixed ASLF.

Q. Why does finPOWER need to be relicensed annually?

A. Software Piracy is a major issue for any software developer. Worldwide, it was estimated that nearly 40% of all software was pirated! This is a staggering figure that in effect adds additional costs onto the software for end users. By having a system that is relicensed annually via a combination of unique variables, Intersoft hopes in some part to ensure a minimum number of illegally pirated copies of the software are in circulation. The price of the software to the legally licensed User then does not have to be inclusive of the cost of the illegal software.