Heron Data has partnered with TFS Financial to automate its broker desk operations, significantly enhancing workflow efficiency. This collaboration utilizes Heron’s AI-driven document-processing platform, enabling TFS to automate over 4,000 decisions each month. By eliminating manual data entry, TFS can now process decisions in real-time, freeing up resources equivalent to the workload of two full-time employees each month.
Streamlining Broker Desk Operations
TFS Financial, based in New York, has been a leader in equipment finance and leasing solutions. However, the broker desk faced challenges due to a labor-intensive process that involved repetitive tasks such as copying and pasting decision details into their customer relationship management (CRM) system. Each decision took approximately up to five minutes of manual work, leading to inefficiencies as employees handled around 200 decisions daily, resulting in over 4,000 decisions monthly.
These administrative tasks diverted attention from more strategic activities, causing delays in customer service and decision-making. The broker desk was overwhelmed with managing finance applications, which required constant monitoring of inboxes and handling approved, declined, and pending decisions.
Aiming for Efficiency and Speed
In seeking solutions, TFS turned to Heron Data with a clear objective: to eliminate manual work and expedite turnaround times for customers. With Heron’s platform in place, TFS has transformed its decision-making process into an automated, end-to-end system.
Now, decisions are processed immediately, allowing employees to focus on building lender relationships and matching deals rather than getting bogged down in administrative tasks. As Sydney Stewart, Manager of the Broker Desk at TFS, stated, “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.”
The adoption of Heron Data has led to measurable improvements at TFS. The company reports near real-time turnaround times for customer applications, streamlined operations, and a more organized workflow. Employees are now engaged in high-value tasks, enhancing overall job satisfaction and productivity.
The impact of this automation extends beyond mere efficiency. TFS’s broker desk is now better equipped to provide timely responses to customers, leading to improved service and satisfaction. As TFS continues to roll out Heron’s solutions across its full lender network, the potential for growth and enhanced customer experiences appears promising.
Heron Data’s automation capabilities are proving to be transformative for brokers like TFS. By alleviating the burden of manual tasks, companies can focus on what truly drives their revenue: securing approvals, nurturing lender relationships, and ensuring customer satisfaction. Thus, TFS’s partnership with Heron Data marks a significant step forward in the evolution of broker desk operations.
