Last Article Update 10.03.2025
Once upon a time, there used to be a silly season each year that the Austrians called "Sommerloch": summer vacation time and not much going on in empty offices. Not this year in the George Labs. George Business has been busy the last weeks, getting ready for a big "23.26" August release which brings you a lot of updates to work with in your business. So let's have a look what's new ...
In order to plan your transfers, tax payments or direct debits ahead, you can now use George's new order scheduler. Basically, the order scheduler works like standing orders - with the difference that you still have to sign each order in your signature folder before its execution.
In order to set up a schedule, please go to the order templates section in your address book. From there you can schedule all templates for single and bulk transfers, tax authority payments, single and bulk direct debits.
As with standing orders, you can turn your templates into orders which George will let automatically recur
You can set up a schedule "until cancellation" or until a last execution date of your choice. Moreover, you can select if George shall execute the order at a certain day after its automatic creation. George will calculate the next due date accordingly.
In any case, as said before, each order in the schedule still has to be signed via the signature folder.
If your company, your George Business license and your user role permissions fullfill all necessary requirements, you can now find a complete new section in your George Business left side feature navigation: Trade Finance. It starts with Bank Guarantees.
A bank guarantee in trade finance is a written commitment issued by a bank on behalf of a customer, promising to fulfill the financial obligations to a third party (usually a seller or beneficiary) if the customer fails to meet its contractual obligations. It acts as a form of insurance, ensuring that the beneficiary will be paid a specified amount in the event of non-performance or default by the customer. Bank guarantees provide security and confidence to parties involved in (international) trade transactions, reducing the risk of payment defaults and enhancing the overall trust in the trade process.
In order to use the bank guarantees functionalities, you first need to have the respective permission. As an admin user, you can grant them.
In your admin section, open either the Users menu or the Roles menu to edit the permissions. Under the tab "Add-ons", you can give the permissions to see issued bank guarantees and/or to create and modify guarantees.
You can create bank guarantee orders for each beneficiary who is listed as a business contact in your address book. Of course, you can also create a new business contact directly from the bank guarantee order form.
Once you filled in all required information and uploaded the necessary documentation, you can save and/or sign your bank guarantee after a final review in the last step.
The Guarantees section in the Trade Finance menu comes with its own order list where George shows you all open, executed, rejected and signed guarantee orders.
In the section's signature folder, you will find all completed guarantees that are ready to be signed by the responsible user.
Last but not least, users with the right permission can also modify existing guarantees or repeat an issued bank guarantee from the section's order list.
If you are an admin user for your company, George Business is happy to further improve the User Management experience for you. Whether you edit the permissions of an user/role or you create/edit a user, George Business now gives you more overview, help and more options.
One of the new options, for example, is the gender of a user to be created/modified. Also, you can see all basic data of any disposer simply by clicking on their name (legitimised disposers cannot be modified).
If you are using the George Busines App you can now benefit from a more powerful search function. From the overview page, you can now directly access the search across all your accounts, cards and other products. Have a look and find out the many options and quick filters that George Business is offering you.
Author: Dag Erik Zimen