Commercial Funding Partners (CFP), an equipment leasing and finance company, has selected ASPIRE, LTi Technology Solutions’ lease and loan management platform, to run its back- and middle-office operations. The need for a more formalized operating environment became more pressing as CFP scaled, requiring the kind of back-office servicing controls that its existing approach could no longer support.
After evaluating its options, CFP selected ASPIRE for its ability to bring CFP’s servicing, billing and tax operations onto a single, purpose-built platform.
Automated billing and payment processing will replace the manual invoicing and collections that had grown harder to sustain as transaction volume increased, for a portfolio where roughly 90% of customers pay via ACH, while built-in, jurisdiction-level tax automation will bring consistency and accuracy to a process CFP previously managed by hand. The platform will also give CFP a dedicated system of record for its capital markets activity, including discounted and sold deals, as its syndication and securitization business continues to grow.
“CFP has spent almost four decades building a lending business on speed, relationships and getting deals done right, and our system needed to keep pace with that,” Buddy Zarbock, founder and CEO of CFP, said.
“We were not just looking for software to replace spreadsheets,” Traci Dolphin, president at CFP, said. “We needed a partner who understood equipment finance well enough to help us stand up the kind of servicing infrastructure our credit facility requires, without slowing down the business that got us here. LTi’s experience with lessors at our scale, and ASPIRE’s depth across billing, tax and capital markets, made this an easy decision.”
Tara Aasand, vice president, sales and relationship management at LTi Technology Solutions, added, “CFP is exactly the kind of company ASPIRE was built for — a growing, disciplined lender that needed enterprise-grade servicing without an enterprise-grade implementation. What impressed us about CFP was how clearly they understood their own bottlenecks. They knew exactly where manual processes were putting the business at risk. That clarity makes for a strong implementation, and we are looking forward to giving their team a platform that can scale alongside their portfolio for years to come.”
Beyond core servicing, CFP and LTi see ASPIRE as a long-term platform for the business, with additional capabilities available to support CFP as its needs evolve.
