Investment in systems and service earns positive broker response for Asset Advantage

More than half of brokers have reported a positive impact from Asset Advantage’s investment in systems and documentation processes over the past year, according to new research from the SME funding provider.

*Left to right: Asset Advantage sales team – Alex Lennard, Jonty Cooke, Gary Thompson, and William Thompson*

The broker survey found that 43% of respondents described the impact of the changes as good, while a further 10% said they had heard positive feedback from other brokers.

Just 5% reported a negative impact, while 18% said they had yet to see any impact – largely because they had not had sufficient opportunity to use the new processes.

One broker commented: “Quicker decisions and document requests means that dealing with Asset Advantage feels much slicker.”

The findings follow a period of investment by Asset Advantage aimed at improving the broker experience and supporting the funder’s growth ambitions.

Alongside enhancements to systems and documentation processes, the business has strengthened its broker communications, made a number of broker-facing appointments and expanded key internal departments to improve efficiency.

The investment comes as Asset Advantage looks to support commercial finance brokers more effectively while responding to growing demand for finance from UK SMEs.

The survey also found that the majority of respondents rated Asset Advantage’s credit appetite and approach to risk as good, reflecting what the funder describes as its flexible and commercial approach to assessing funding proposals and its willingness to work with brokers to understand individual cases.

Gary Thompson, sales director at Asset Advantage, said:

“For commercial brokers, the quality of a funder’s processes is arguably as important as its funding proposition. Any systems or processes that create unnecessary friction ultimately cost brokers time and can jeopardise both the deal and the client relationship.

“Funders therefore have a clear duty to their brokers to make sure processes are straightforward, support is forthcoming and that proposals can progress efficiently.

“Our investment in growth over the past year has been focused on making sure that processes are simpler and more efficient, bringing in changes behind the scenes and on the front line that make a tangible impact to the day-to-day experience of submitting and progressing proposals.

“It’s encouraging to see that this is beginning to be recognised by brokers, although we’re fully aware that there is always more we can do.”