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Case Study: CUSTOM DEVELOPMENT

Systems Development – Beacon Funding

Beacon Funding is a leading financing company, providing small-ticket equipment financing since 1990.

Beacon Funding

Industry

Leasing

Category

Custom Development

Challenge

As Beacon Funding grew, it needed a technology partner to implement scalable platforms that could automate extensive business processes such as application processing, underwriting process, booking and integration, and repo builder.

Technology Partner

Beacon Funding selected Liventus as their technology partner to guide them through the design and planning processes to develop and deploy new scalable platforms to automate processes.

Software Solution

Since 2002, we have led the way for all of Beacon’s technological advancements. As part of our process, Liventus has completely automated their leasing process from beginning to end.

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Developed a web portal to collect all necessary data to start a customer opportunity. This eliminated the need for paperwork and created a historical record for each lead. The application helped to pull credit information, background checks, and bank statements from multiple internal and external sources in seconds.

Liventus’ automated bank statement and tax return solutions allowed Beacon Funding to pull statements and returns directly from the relevant sources, eliminating the need for customers to provide them.

Liventus’ background check solution integrated social media search, providing Beacon Funding with a better assessment of each applicant. And, with Liventus’ communication log, Beacon Funding had all historical team communication logs at their fingertips, including all emails, call logs, notes, and other resources regarding opportunities and accounts to make decisions quickly based on multi-department input.

Liventus also provided Beacon Funding with a deal optimizer that allowed salespeople to calculate their commission and overall deal profitability in real-time. The asset report helped Beacon Funding to look up equipment history by connecting automatically with 3rd parties, thus avoiding delays later in the deal.

Liventus’ solutions also included the automation of the application to the booking process, with a title builder that housed the titles for leased vehicles and tracked insurance expiration dates. This automated process allowed Beacon Funding to generate the final document from their CRM (or another tool) to prepare the deal and take all critical data from the deal and upload it right into their workflow.

Finally, Liventus’ repo builder allowed Beacon Funding to effectively track and manage repossessed assets through the repo process, understanding and managing the asset’s value, recovery status, expenses, original lease documentation, pictures, and legal docs. All communication on the repossession was stored in the tool, giving all team members access and visibility.

Framework & Tech

We custom-built a software solution that would work for Beacon Funding when vetting their applicants for equipment financing.

Ongoing Support

We check programs are working securely, remain updated, and are optimized. We ensure software meets business needs.

Platform Integration

Liventus connected existing systems to communicate with Beacon’s CRM, ensuring that customer data is secure, current, and accurate.

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