July 2024
The latest edition of Insight highlights a range of challenges facing finance companies, with options and solutions explored.
One of the biggest challenges for finance companies renewing their contract management system is migrating legacy portfolios. Simon Harris outlines the requirements for success as well as the benefits of other available options. Simon also shares learnings from the Technology & Innovation Forum on how finance companies are changing to drive more successful transformation programmes.
Looking at the role of digitisation, Jeff Longhurst highlights both progress already made in the invoice finance industry and the importance of addressing organisational and technical challenges to drive success.
On a different theme, we look at insurance, highlighting use cases where trade credit insurance plays a valuable role in increasing sales, reducing capital requirements and achieving higher profitability for asset finance providers. Separately, Phil Gerrard outlines why finance companies should look to specialist insurance for the funding of renewable energy assets.
Our article “Beyond the Bubble” highlights why external expertise can add a valuable new dimension to your company’s thinking and increase its flexibility to solve important challenges quickly.
Happy reading, and have a great summer. We’re here when you need us.
We all know that selecting and deploying a contract management system (CMS) for your finance business is most likely going to be a long, and at times painful, undertaking. Whilst many vendors are working hard to improve and accelerate the implementation process, by its very nature it is difficult to find short cuts: many tasks necessarily need to be carried out sequentially and take a certain amount of time, and the most time-consuming of all, as well as the most commonly underestimated, in terms of both duration and human effort, is the portfolio migration ...
Commoditising invoice finance through digitisation is considered by many as the "Holy Grail" of factoring and invoice discounting. But what can its impact truly be on a financial product that has historically been relationship and service-driven?
In this article, we'll explore how digitisation impacts all forms of invoice finance in very similar ways and how correct utilisation allows a provider to most effectively achieve the results set out in its business model. However, the challenges to successful implementation are many and need to be managed effectively.
Trade credit insurance is seldom used in asset finance (more so in invoice finance) but can play a valuable role by facilitating increased sales, reduced capital requirements and higher profitability, as well as mitigating downside risk either on a single large transaction (or customer) or at a portfolio level.
Here are some ways you could use insurance to improve business performance ...
Imagine being trapped in a hall of mirrors, seeing only your own reflection ad infinitum. That's the reality for many businesses today - stuck in echo chambers of their own making. But what if you could smash those mirrors and glimpse a world beyond?
In the 18 months since we started the Technology & Innovation Forum, our membership has quadrupled, with 85 participants representing more than 50 asset and automotive financial services businesses.
In some respects, we find ourselves returning to familiar, key topics - data, microservices, agile development – even revisiting the most recent developments, such as AI. And we have looked at some tech best practices and conclusions that seem to stay the same – the critical role of planning, change management and communication, for example – even when the technology itself is new.
Here, we consider how, as the technology we buy and use has changed, so too our businesses and behaviours have begun to change, and might yet need to evolve further...
As the world pivots towards a more sustainable future, investments in green and renewable assets have surged.
These assets, including wind farms, solar, BESS, biomass, biogas and other renewable energy projects, promise substantial environmental and economic benefits. However, they also bring unique challenges and risks that necessitate careful consideration, particularly in terms of insurance.
For both lenders and borrowers, selecting the most suitable insurance cover is critical. This involves engaging with specialist insurers early in the process to comprehensively assess risks and integrate appropriate insurance terms into lenders' agreements. This article delves into why this is so vital and how it can be effectively achieved.
We recently hosted an insightful session featuring Andy Trimmer from Simply, who shared valuable experiences from their recent implementation and migration to Lendscape's Asset Finance CMS. For those who couldn't attend, here's a summary of the key points discussed:
For Forum members who missed the live event, a password-protected recording is available upon individual request.
Growing Community
We're delighted to see our membership expanding, with increased participation and representation from various businesses at each forum. Thank you all for your continued support!
Upcoming Events
We look forward to seeing you at our next event, hopefully refreshed after a well-earned summer holiday!