About Beacon Funding

Beacon Funding Corporation is a leading financing company providing small-ticket equipment financing services to US businesses. The corporation is headquartered in Illinois, USA.

Rules-based software

Speeding-Up Credit Decisions

Whether it is an operating or a capital lease, escalating or deferred payment, sale-leaseback, third-party deal, used equipment and/or start-up business, vast amounts of data is required for an investment decision. This is why Beacon Funding was looking for a tool, which not only provided its sales force with the most current data, but also accelerated and simplified the behind-the-scenes credit application process.

CHALLENGE

Improving Processes in the Credit Department

Thus far, Beacon employees had to evaluate mountains of documents and data manually and were not able to meet the expected reaction times. In addition, their processes were error-prone and led to conflicts between credit and sales departments.

Objectives

  • Optimize the lease application process
  • Automate the credit assessment process
  • Reduce processing times
SOLUTION

Integral Credit Evaluation Process and Transfer to the CRM

ACTICO’s business rules management system best fit Beacon Fundings needs and was able to integrate seamlessly with their existing CRM system. The credit evaluation process runs seamlessly now – once the credit risk rating and decisioning processes are executed within ACTICO Rules, all pertinent data and results are then transferred to the central CRM system for data persistence. The agile architecture of ACTICO Rules empowers credit experts to quickly alter business rules that change frequently without potential implications for data processing or storage.

  • Reduced processing time by an estimated 60 percent
  • Improved credit decisions
  • High flexibility and adaptability of business logic
  • Lessened dependency on IT
NUMBERS

Faster credit approval for leasing customers

60%

reduced processing time

130

less data input fields

From hours to minutes

required time for credit applications

IMPACT

Consistency in Decision Making; Less Error-Prone Processes

Storing all quantitative and qualitative credit rating values in a central location and obtaining consistent data requires minimal effort as compared to previous requirements. An error-prone workflow of information was replaced by a flexible system that allows for adaption of frequently changing data. Beacon Fundings sales staff can now, solely focus on their sales roles and establish profitable customer relationships.

ACTICO Rules

Simplify credit applications for equipment leasing.

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