Thursday, November 27, 2014

Success stories series: 7/7 - Customer Scoring & Financial Evaluations

It's been an incredible ride validating Ranktab's value with key early adopters. We are excited to share our first series of success stories with our followers, here is our seventh and final case in a series of 7, we hope you like it, and if you do please share!

Case Study: Customer Scoring & Financial Evaluations

Organization profile – Equipment Leasing and Financial Services Company focused on small and medium enterprises and entrepreneurs. The company provides equipment financing alternatives to commercial bank loans.
  • Founded in 2006.
  • Leasing amounts range from $500,000-$2m USD.
  • Contract terms range from 12 to 84 months, +40 Employees.
Business situation – The company has been as a leader in leasing due to its fast adoption of technology for expediting evaluations and approvals of leasing contracts to prospective customers.

Decision Making challenge – Although the company had a proprietary software to expedite leasing applications, their internal bylaws required the consensus of a committee to approve every application. This was a bottleneck as subjective discussions from the committee could last hours due to the high volume of applications.

Solution – Ranktab’s Private Platform allowed the company to expedite the Prospective Customer Evaluation Process, by allowing the committee to input their subjective evaluations in a fast and measurable way, and instantly visualize the group’s smartest consensus.

Benefits – Reducing the time and conflict frequently encountered in committee discussions made an immediate positive impact on the company’s main competitive advantage and their bottom-line results: Faster approval of new customers and smarter process to acquire them.

Services used -
  • Ranktab’s Private Suite
  • Private Sharing Options 
  • Instant Results Viewer and PDF Reports
  • Ranktab’s Proprietary Algorithm