Case Study 1
A leading Commercial Finance Brokerage was finding its software to be outdated, restrictive and time consuming.
What used to happen?
- Enquiry received via email from the web site - customer informed "thank you for your enquiry - someone will be in touch with you soon"
- Staff member checked the current rates etc from the lenders and decided the best quotation
- Staff member completed a pro-forma Word document with the figures and the conditions for that lender
- Quotation printed out, enveloped, addressed, stamped and posted
- Staff member manually checked for response from customer, based upon diary
- Staff member chased customer via telephone
- Inherent time delays built into business process - a minimum 2-3 days
- If application form filled in (further delay for post) typically, information missing requiring form to be posted back to customer, phone calls etc.
As you can imagine, these administrative procedures were both time consuming and costly to the company. Therefore, Maiden Software was asked to develop a new, bespoke system that reduced the amount of administration and increased the level of service to their customers.
Implementation of a new system
The Maiden Software system that has been implemented by a leading Commercial Finance Broker provides their customers with:
- Immediate online commercial mortgage quotations for the minimum of data input
- Payments, costs and conditions of the mortgage being based upon set schemes from a panel of Lenders
- Their details are held on the system and updated when necessary (rate and/or conditions changes) by the Commercial Finance Broker via a secure on-line Back-Office Administration System.
- The customer is presented with the best Fixed and Variable rate quotations that match their borrowing needs
- The option to print out a full illustration there and then online (as a PDF document), as well as the opportunity to email this illustration as a PDF attachment to the email to themselves
- The option of being guided intelligently through an application form online, selecting only the sections to be competed that are required for the customers finance requirements, which being validated, only allows for the input of appropriate and correct data. During this process, the customer is emailed a link back to the application form should they decide not to complete it at that time, allowing them to pick up where they left off with no loss of data
- At the end of this process the customer is presented with a completed application form as a PDF document that they can print out online
Staff at the Commercial Finance Brokerage are provided with the following services:
- Staff are notified immediately of the application form being completed which they may print out too
- The progress of the customer is tracked by the system at every relevant step; quotation, printed quotation, emailed quotation, re-quotation, application form in progress, application form completed. (These could be any step in another line of business process flow)
- A customer care system then emails targeted chasers based upon their current known tracked status to the customer. The emails are defined by the Commercial Finance Broker as to the time-since-event and wording of the email
Other features of the system include:
- Back office administration system, allowing the Commercial Finance Broker to see the number of quotations performed, value and current progress status of each quotation for all customers
- Ever growing pool of prospects for cross marketing purposes from the customers requesting quotations
- Export of prospect email addresses for bulk marketing emails
- Customers are able to request a call back online
- Customer can request an appointment, stating best days and times available online
- Easy implementation of the 'on-page' element of Search Engine Optimisation (SEO) without expensive re-visits to the web designer via changes to Page Title, Page Description (Meta tag), Keywords (Meta tag) for each page on the system
- Articles editor to produce industry related articles and briefings, thereby keeping content on the site 'fresh' for Search Engines
- Control of staff users allowed access to the back office system and security of sensitive parts of the back office