Simply Asset Finance, a provider of equipment finance for UK SMEs, has integrated lending software company Lendscape’s new contract management system.
Lendscape’s contract management software aims to enable efficient customer engagement, providing loan book management and data for strategic oversight.
Lendscape Asset Finance, an accounting platform designed to manage leases and loans, was founded in 1972, while Lendscape’s contract management system (CMS) was launched in 2022, in response to weaknesses identified in existing software during the Covid pandemic.
During the launch of the CMS, Steve Taplin, HPD LendScape’s managing director, described how the hard lessons from the Covid pandemic offered fresh material on which to base his back-office platform.
He said described existing UK asset finance platforms as “too rigid” and “unable to handle the fluid contract environment created by the pandemic” or offering an “overly complex user experience” and “leaving too much room for error”.
The pandemic also exposed the need for greater automation by platforms, with staff being called on to manually make adjustments to customer payment holidays and re-pricing.
This news comes shortly after Simply Asset Finance announced it has surpassed a £1 billion lending milestone, just five years since its 2017 inception, having funded over 27,600 assets for businesses across the UK.
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