Context
Better Rise Capital is a direct business lender that provides fast and flexible funding to growing businesses in the U.S. Their funding model is built around speed, transparency and customized financing options to help business owners get the funds they need as quickly and efficiently as possible, without the delay and complexity associated with traditional lending methods.
Better Rise Capital has provided funding to over 10,000 businesses and has delivered billions in capital. The reason behind their success is simple. They provide quick approval times, offer multiple loan options, and have a seamless borrower experience, which makes funding decisions very quickly.
Problem
As the business scaled and application volume increased, a major void in the funding process began to emerge. The credit information was not embedded into their funding process. For a company that prides itself on speed and accuracy, this was creating unnecessary friction at the exact moment when funding decisions needed to be made.
Since there was no structure for running credit checks during the application flow in Salesforce, the team was relying on manual checks and other disjointed processes. Not only did this slow the funding process down, but it also created inconsistent evaluations of customer credit profiles across the pipeline.
- There was no built-in method to perform credit checks during the application flow.
- The funding team relied heavily on manual checks, which caused significant delays in approvals in a time-sensitive environment.
- There were inconsistencies in the way credit was evaluated by different team members.
- The funding team had limited visibility into customer profiles at the point in time when funding decisions were being made.
Solution
Credit Checker provided Better Rise Capital with an automated and customizable solution that could be easily integrated into their existing funding workflow inside Salesforce. By doing so, manual steps were removed from the funding process, resulting in quicker, more consistent funding decisions.
With the use of automation triggered by certain data inputs, the team eliminated the need for manual intervention. As such, they were able to quickly view the credit profile of customers, providing clarity and confidence to both the processing team and the sales team.
- Automated credit checks based upon system inputs.
- Customized workflows were developed to align with their funding process.
- Manual workloads were reduced for the processing team.
- Immediate visibility into customer credit profiles.
- Improved accuracy in matching customers to the best funding program options.
- Improved sales conversations and clarity regarding customer expectations.
Implementation
The implementation of the Credit Checker product was smooth, creating no disruption for the Better Rise Capital team. The entire setup and customization were handled externally by our team to ensure that the client was able to focus on core priorities.
One of the most impressive aspects of the Credit Checker product was the ease and clarity of the implementation. From the demo to the actual deployment, all expectations were clearly defined and met, resulting in a seamless and easy adoption of the Credit Checker product across all teams.
Results
- Significant time savings due to the elimination of manual credit checks.
- Efficiency improvements throughout the processing team.
- Improved accuracy in customer-program matching.
- Improved quality of sales conversations and customer expectations.
- Average support response time was approximately 1 hour.
- 100% satisfaction with onboarding and ongoing support.
With the credit checker, we were able to put a lot of customizations in place so that we can automatically run credit when certain information is in our system. This takes away a lot of manual labor from our processing team and they’re able to work more efficiently.
Better Rise Capital
