Project Overview
When a top UK asset finance provider decided to implement a cloud-based lending and leasing platform, smooth integration became essential. A Salesforce-based application originally developed for the US market, required significant customization to align with European and British asset finance regulations. The objective was to optimize the origination process, incorporating advanced credit analysis, automated document generation, and streamlined workflow management while ensuring full integration with the existing back-office system.
Challenges:
Following the decision to implement the new system, several key challenges had to be addressed to ensure a smooth transition:
- Adapting the platform to UK and European financial regulations, including VAT compliance and asset finance-specific requirements.
- Enhancing operational efficiency by automating workflows and refining credit assessment capabilities.
- Ensuring continuous integration with the existing back-office system to enable accurate and real-time data synchronization.
- Executing the implementation within an Agile framework, utilizing Scrum methodology with bi-weekly sprints to drive iterative improvements.
Solution:
To achieve these objectives, ITDS’s team of specialists developed a structured approach, focusing on key implementation strategies:
- Local Market Alignment: Configuring the platform to align with UK asset finance regulations, ensuring VAT compliance, and refining the origination processes.
- Critical Processes Automation: Developing automated workflows for credit analysis, document generation, and contract management to improve efficiency.
- Efficient system Integration: Establishing a reliable connection with the back-office system, enabling smooth data flow and reducing manual intervention. Integration with 3rd party source such as Companies House, Experian, HPI Check and CAP HPI, Doc1, DocuSign and others
- Continuous Feedback Loop: Engaging with key stakeholders and end-users throughout the process to refine system functionality based on real-world usage and evolving business needs.
Results:
- Successful System Deployment: The implemented solution was fully customized to meet the unique requirements of asset finance origination in the UK.
- Enhanced Operational Efficiency: Automated processes significantly reduced manual workload, improving overall credit assessment and contract origination timelines.
- Smooth System Connectivity: Full integration with the back-office infrastructure ensured accurate data synchronization and minimized processing delays.
- Faster SLAs: Improved automation led to faster contract origination and enhanced overall operational performance.
This project demonstrates ITDS’s ability to drive digital transformation through expert system integration, automation, and compliance-driven customization, enabling asset finance providers to operate with increased efficiency and precision.
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