Berkman Financial

Optimizing Salesforce for a lending broker

Seasoned alternative business lending broker uses Salesforce to originate working capital loans.

Berkman Financial

Get a loan that’s right for you.

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About Berkman Financial

Berkman Financial is in the business of providing working capital loans to small businesses across the US. The company was founded in 2017 and was looking for a platform that would allow them to have a competitive edge against similar companies in their industry. 

Headquarters: New York

Industry: Financial Services

Webpage: www.berkmanfinancial.com

Services we performed:

The challenge.

No CRM in place, Poor visibility into the sales pipeline.

For Berkman Financial Not having a CRM in place represented a challenge knowing it would be difficult to compete with similar companies in the alternative business lending industry, adding also:

  • Limited visibility into the sales pipeline and understand conversion metrics.
  • Inability to capture lead source attribution effectively or knowing how much is being spent on marketing campaigns.
  • Not being able to broker out deals to multiple funders simultaneously thus resulting in a slow submission process.
  • Limited support for the Renewals department and not knowing when merchants were eligible for renewals.
  • Limited data tracking and reporting on important key performance indicators (KPI’s).

The Solution

Sales Cloud, Build custom broker page, Custom reports, and dashboard.
Working closely with the Cloudsquare implementation team, Berkman was able to meticulously address aspects of the Salesforce implementation:

  1. Build a custom package, Cloudsquare Broker, for the alternative business lending that sits on top of Sales Cloud industry Enterprise Edition.
  2. Configured standard and custom objects with custom fields, statuses, a page layout, and lead conversion mapping.
  3. Created a dropdown on Lead, Account, and Opportunity relating records to a specific campaign.
  4. Created a shopping wizard allowing processors to shop out deals to multiple funders with a few clicks.
  5. Built a robust renewal engine to track renewal eligibility such as paid in percentages for renewal forecasting.
  6. Configured custom reports and dashboards to track important KPIs///

The Results

Increase funding deals, 360 view of the business, Increased renewal conversion.

As the result of this implementation, Berkman saw noticeable results in a number of key areas:

  • 2 offices, 32 sales reps moved to new system
  • 100% user adoption following the migration
  • 21% decrease in average processing time (down to 4.8 days)
  • 26 more records in pipeline for each agent’s (on average)
  • 76% increase in deals closed/won in the month following the migration.

Giving credit where credit is due goes a long way in the world of business. After moving on from a dated CRM to Salesforce, Berkman was finally able to overcome problems rooted in duplicate records and messy data. Not only did this lead to immediate and measurable productivity gains for sales agents, but consistent and accurate lead attribution strengthened the relationship between Alpine and its partners.

Alpine Salesforce Case Study

How a small business lender successfully migrated from a dated CRM to Salesforce

Fundamental Salesforce Case Study

How a tailored Salesforce solution helped a company improve sales efficiency by 20%

Cloudsquare Services:

Want to achieve the same success in your business?

Contact our Salesforce experts and let us solve any challenge you might have!