Heron Data has partnered with TFS Financial to revolutionize the broker desk operations of the equipment finance and leasing solutions provider. The collaboration utilizes Heron’s advanced AI technology to automate document-intensive workflows, enabling TFS to process over 4,000 decisions each month. This significant enhancement eliminates the need for manual data entry and allows for real-time credit decision processing, effectively saving the workload of two full-time employees every month.
Streamlining Operations for Enhanced Efficiency
TFS Financial’s broker desk faced considerable challenges due to the repetitive nature of their tasks. Employees were bogged down by the demands of copying and pasting decision details from emails into their customer relationship management system (CRM), uploading files, and monitoring email inboxes. This labor-intensive process consumed up to 5 minutes per decision for approximately 200 decisions each day, leading to over 4,000 decisions per month. As a result, valuable time was wasted on low-value activities rather than focusing on customer service and approval processes.
In response to these inefficiencies, TFS sought a solution to streamline operations. By implementing Heron Data’s intelligent document-processing platform, the broker desk’s operational flow has been transformed. The automation allows decisions to be processed immediately, removing the delays associated with manual handling.
Positive Outcomes and Future Prospects
Since the adoption of Heron, TFS has experienced significant improvements in its workflow. The automation process has led to near real-time turnaround times for customers, enhancing the overall efficiency of the broker desk. With organized inboxes and cleaner workflows, employees can now concentrate on strategic tasks such as strengthening lender relationships and ensuring the right applications are matched with appropriate lenders.
Sydney Stewart, Manager of the Broker Desk at TFS, remarked, “Rather than uploading decisions all day, my team can now focus on making sure the right applications get to the right lenders — and that we’re getting approvals back faster for our customers.” This shift not only boosts employee engagement but also enhances the customer experience, as clients receive faster responses to their finance applications.
The impact of Heron’s automation extends beyond immediate efficiencies. TFS’s broker desk is now positioned to drive revenue growth by allowing team members to engage in proactive, high-value work, rather than being consumed by administrative tasks. As TFS continues to roll out Heron across its full lender network, the potential for further operational improvements and customer satisfaction remains promising.
By alleviating the burden of manual processes, Heron Data empowers finance companies like TFS to concentrate on what truly drives their business: timely approvals, strong lender relationships, and ultimately, enhanced customer satisfaction.
