Manchester-based asset finance broker PMD Business Finance has partnered with Leasepath, a Canada-based IT services in-the-cloud provider, to use its finance origination and customer engagement platform.
PMD, which brokers over £150m of lending a year, said it will use Leasepath’s Intelligent Workplace to improve client relationships through better operational performance and streamlined deal flows with funders.
In a statement, Leasepath described its platform as designed to improve sales-to-order workflow, document generation, dealer/vendor portals, and other automation capabilities and to relieve team members of oft-repeated workload.
Rob Dermody, a director of PMD Business Finance, said: “We see where the technology landscape is moving in the asset finance industry and, quite frankly, we think that we’re getting ahead of where our competitors will be in five years or more.
“By partnering with Leasepath, we expect to realise an increase in our throughput and enable PMD to reach more customers and empower us to build stronger relationships with them. We also get room to grow with their platform over time, and the direction they are taking with their Intelligent Workplace platform is exciting.”
PMD said it chose Leasepath in a bid to reduce friction in its sales cycle, increase organisational capacity and centralise its front and back-office systems. Additionally, the company sought to modernise its core systems by moving to a fully digital, cloud-first environment.
Jeff Bilbrey, chief executive of Leasepath, said: “PMD were clear that being cloud-first, digital-first, was critical to them. They want to be ready for emerging technologies to make a major impact on the asset finance industry, and with their new Intelligent Workplace from Leasepath, they’re prepared to do just that. They’re a rising star, and we are delighted to be partnering with them in their growth.”
Leasepath says it uses the Microsoft Power Platform to provide its cloud-first solution which includes pre-built automation, pricing tools, amortisation calculators, asset management, and integrations with credit bureaus and other mission-critical applications.
Leasepath is a front-end leasing solution developed as an extension of Microsoft Dynamics 365, by Turnford Systems Inc. Turnford Systems was established in 1998 to develop technology and e-commerce solutions for the finance and leasing industry.
In March 2021, PMD announced that the business had been acquired by three members of its management team, Tom Brown, Lee Schofield, and Rob Dermody.