Case Study: AgileCap

AgileCap provides insurance agencies with a simple, quick source of funding, making timely business growth attainable. Banks traditionally require large, tangible business or personal assets to secure loans. AgileCap does it differently.

AgileCap considers the entire book of business to be an asset. A substantial asset that allows them to provide the funding needed to grow. This paradigm shift in how collateral is defined has allowed AgileCap to provide financing to all ranges and types of agencies over the past 15 years.

The Challenge

AgileCap had leveraged their unique business model into many years of successfully providing funding to insurance agencies nationwide, and substantial company growth. However, they had reached a bottleneck in their ability to scale.

After many years of growth, AgileCap was using many disconnected systems for accounting, data processing, storage, and more. Because none of these programs could share data through smart integrations, the AgileCap team was forced to do a lot of duplicate data entry, which is, of course, time-consuming and error-prone. Some other specific challenges included:

  • Lacking the desired variety and complexity of deal tracking tools
  • The invoicing process was cumbersome and inefficient
  • Desired overall increased visibility and transparency
  • Reporting needed to be faster and more comprehensive

Overall, their disconnected systems were slowing down their underwriting process and weren’t giving them the tracking or metrics they needed to deeply analyze their business and lacked smart workflows and automation to that would save them time.

The Solution

CloudMyBiz is a certified Salesforce Partner. We develop and implement custom Salesforce solutions, integrate systems, enable user adoption, and give businesses the foundations to reduce costs, increase efficiency and maximize ROI. CloudMyBiz gives clients access to what Salesforce does best: innovation. Salesforce is more than just a cloud or software tool, it can be the foundation for developing and growing a business in just about any way imaginable.

Salesforce was not entirely new to Agile Cap. In fact, they had actually installed Salesforce previously, however, the basic layout was not user-friendly, and borderline overwhelming to figure out. Consequently, Agile Cap had stopped using Salesforce and returned to their other systems. What they didn’t realize was that they needed a consultant and developer who understood their industry, and could tailor the system to their specific needs.

Eventually, AgileCap contacted the reps at Salesforce to get a consultant recommendation, and they were then referred to the Alternative Lending experts at CloudMyBiz. After in-depth discussions and a proper Business Process Review, we established that AgileCap’s specific needs included:

  • A single, integrated system.
  • Reduced human error so they could better scale.
  • Enhanced reporting tools.
  • Better visibility on where deals are in the process and better pipeline management.
  • Improved ongoing monitoring of the loans.
  • Streamlined communication internally and externally to create a better user experience for their clients.

The Result

To meet the needs of AgileCap, we implemented our FUNDINGO Loan Management solution, built on the Salesforce platform and designed specifically for the Alternative Lending industry. The FUNDINGO Underwriting and Loan Servicing Apps gave AgileCap the functionality, automation, and data insights they were looking for.

Moving them onto a single platform also allowed CloudMyBiz to implement direct integrations with DocuSign, Experian, Conga, and Quickbooks. Meaning that all data was now shared by the system, and could be instantly accessed from within Salesforce. This significantly reduced the time it took to process deals, as well as the frequency of data errors.

CloudMyBiz also built a brand new, custom Amortization Schedule module for AgileCap. This custom build-out has been essential to allowing AgileCap to continue growing. It allows for the invoices to be automatically created, sent out, and collected upon, with minimal oversight. What’s more, amortization schedules could now be easily created, updated and reported on. Finally, one of the biggest benefits was that it allowed for invoicing automation (including interest and principal amounts) as well as reporting projected cash flow and revenue for the portfolio.

AgileCap immediately realized that the new system was a vast improvement upon their previous solution. In fact, when they began testing the initial version, they discovered that they were going to be able to save up to 3 hours for each and every deal they processed. In a very time conscious industry, when potential clients are shopping between 10 different funders, and often expecting a turn around time of a day or two, those 3 hours were a huge win for AgileCap! The overall result: AgileCap removed the roadblocks in their way, streamlined their process, and are now growing and funding deals faster than ever before!