Skipton selects Dancerace to build on record year in business
UK lender Skipton Business Finance has chosen Dancerace ABL software to power its fast, flexible and friendly invoice finance services.
The moves comes after the lender posted record results for its ABL business in 2022 – achieving a 98+% client satisfaction rate and growing its client facilities by 22%, to reach an annual client turnover of £1.8bn.
The firm – led by CEO Greg Bell – now uses Dancerace’s complete, connected ABL operating system for its full range of invoice finance products – including its factoring, invoice discounting, LedgerLite and Skipton Select facility types – and across all aspects of its lending operations, from onboarding to client access and backoffice administration.
Skipton’s leadership and operations teams worked with Dancerace’s Customer Success team to review the lender’s processes and unlock new efficiencies and improvements throughout the funding lifecycle. The goal: to use technology to take Skipton’s winning approach to the next level, by making its services faster and more flexible, while also freeing up employees to spend more time providing expert, hands-on support to SMBs. As a result, Greg and his leadership team expect continued growth in the size of their client portfolio and average client facility, while building on the firm’s reputation for excellent customer service.
Dancerace provided extensive implementation support to ensure that switching systems was seamless for staff and borrowers. Training for 100 staff was provided via a programme of extended on-site workshops and Dancerace’s online Learning Management System (LMS) – a unique, gamified library of system training guides, videos and interactive courses.
Dancerace supported Skipton to migrate their full client financial history to the Dancerace OS. The implementation project took just six months, with 100% data accuracy for their new system and zero missed collections, payments or access issues during the switchover.
“We chose Dancerace software for its balance of best-in-class innovation and usability for our team and our clients, which will help us as we work to build on what makes Skipton special.”
Greg BellCEO & Managing Director, Skipton Business Finance
He added: “Whilst it was important that the migration to Dancerace was seamless and that the system achieves more efficient and streamlined processes within our operating model, our overall objective here at Skipton was to enable our clients to be successful by providing them with not just the necessary working capital to facilitate growth but also the best technology to do so.”
For Dancerace CEO Elliot Avison, the project is testament to the importance of innovation for improving customer service, and the power of close, honest collaboration: “We’d like to thank Greg and the Skipton Business Finance team for trusting Dancerace to take their business to the next level. Special thanks go to Fozia Riaz, Graham Bowie and Andrew Hill at Skipton and Louisa Templeton, David Heyes, Dave Norman and Duncan Kew in Dancerace’s UK team for ensuring the project came together so smoothly. Our partnership is a perfect example of how lenders can use technology to add value and level-up already excellent lending businesses. We’re looking forward to a long future working with Skipton Business Finance and are already focused on the next enhancements we can deliver for their ABL offer.”
For more information on Dancerace’s complete, connected ABL operating system, contact our lending team today.