Case study: Delivering scalability for a Monitor 50 customer
Our customer, a leading equipment finance company, was experiencing significant growth in its vendor programs. With a focus on leveraging technology to differentiate its offerings, our customer recognized the need for a streamlined origination and deal management solution. To achieve this, the company partnered with Micah Group to implement its flexible, scalable platform for equipment finance.
Challenges Faced
Difficulty scaling: Our customer was outgrowing their existing systems and struggling to manage a growing influx of applications.
Manual processing: The company was relying on dated systems and manual workflows, which led to delays, inconsistencies and errors throughout the process.
Collaboration inefficiencies: Our customer was spending significant time tracking down disparate information, providing updates, and coordinating across its various programs.
Customer experience limitations: Customers and partners faced lengthy turnaround times, disorganized paper processes, and were unable to apply for or manage loans online.
How Micah™ Helped
|
Year 1 Without Micah | Year 2 With Micah | |
| Apps Approved | 42 | 557 |
| Amount Approved | $8.8 million | $150 million |
| App to Decision | 21 days | 3 days |
Smooth implementation
We partnered with our customer to understand their unique needs and successfully launched three unique vendor programs in 20 days.
Efficiency from the start
With Micah’s configurable, integrated online applications, the company was able to immediately capture required data and documents in a central location.
Auto decisioning
Micah enabled our client to accelerate small-ticket deals via automated risk scoring and decisioning, requiring minimal manual intervention and drastically improving time to decision.
Collaborative tools
We built an integration for our customer and one of its funding partners to efficiently share data, saving their team up to 20 minutes of processing time per loan application.
Online portals
Our customer was able to provide useful self-service portals to its program vendors and sales partners, allowing all parties to easily track, update and collaborate on deals in real time.
Security
With robust user authentication and data infrastructure, Micah ensures that all customer and partner data is secure and protected through user permissions and specialized views.
With Micah™, our customer processed a higher volume of applications without adding employees, enhanced its customer experience, and grew with confidence. The company now leverages Micah for a variety of financing and vendor programs, continuing to gain efficiencies and grow its business alongside ours.
Contact our team to learn more about our equipment finance solutions.