Beacon Funding Corporation Streamlines Credit Evaluation Process
Beacon Funding Corporation, a leading provider of equipment financing solutions, wanted a tool which not only provided its sales force with the most current data, but also accelerated and simplified the behind-the-scenes decision-making credit application process.
To outperform their competitors in a fast-paced industry, Beacon Funding sought a solution that would both empower their employees and quickly deliver their established financing expertise to customers. Whether it’s an operating or capital lease, escalating or deferred payment, sale-leaseback, third-party deal, used equipment and/or start-up business, vast amounts of data are required to decide whether they can finance an investment. Thus far, Beacon employees had to evaluate mountains of documents and data manually and were not able to meet the demands with regards to reaction times. In addition, their processes were error-prone and led to conflicts between credit and sales departments.
When looking for a solution, Toby McDonough, Vice President Sales and Marketing at Beacon Funding, found ACTICO Rules. ACTICO's business rules management system best fit Beacon Funding's 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.