A lot of businesses outsource the servicing component of their portfolio, especially after looking at the expense of staffing, infrastructure, and software. In-house servicing can also be a big distraction from the core mission of the business. Here are three areas to consider in making a decision:
Access to capital has fostered growth in on-book portfolios and diversified funding. The current economic climate is prompting organizations to reconsider their growth strategies. Some funding sources allow or require servicing to be retained. When necessary, funders find confidence in a qualified outsourced partnership that offers experienced employees and proven lease processing solutions.
Lessors with small portfolios on spreadsheets, aiming for growth through available funding, are ideal for outsourced servicing partnerships. Conversely, businesses with a small, stable portfolio might benefit from staying with an internal system. The key question is whether the current system can support future growth and new customers.
Review your staff situation before deciding to outsource. Are they ready to perform with minimal errors? Do you have a reliable recruitment base for lower-salary positions? Qualified, well-trained staff are crucial for managing portfolios and servicing customers. Outsourced servicing offers experienced skills and maintains metrics, saving time and hiring costs while providing immediate, qualified employees.
Keep your current front-end systems, software, and processes. Let our API integrations create a direct data pathway between your systems and ours. An exchange of data to book the contract, and near-instantaneous portfolio data available to you for each contract.
