Richmond Group Unveils New Outsourcing Services for Equipment Finance Companies

Richmond Group, an equipment and auto lessor advisory firm, launched two new outsourcing services aimed at providing savings in back-office processes and systems costs for equipment and auto finance companies. The new services are branded as “Move to Improve.”

“Our clients have told us that they need lower costs to service their back office, finance and administration areas; they need reasonable and reliable systems costs; they need certainty of costs; and, lastly, they need scalability,” David Pedreno, a director of the Richmond Group, said. “In the last year, we have seen a real change in attitudes to the kind of service we are offering, in large part due to having taken part in the world’s largest experiment in remote working.”

The first service of the “Move to Improve” initiative is an outsourcing offering.

“It was important that we provide our services from a convenient EU location where we could keep our costs reasonable and where we have access to talented people with the skills we want, including language proficiency,” David Harmer, a director of Richmond Group, said.

Richmond Group said it will offer flexibility in the processes it is prepared to manage, from taking on individual processes to providing full back-office support. The company also sees its ability to support the finance and lease accounting function as an opportunity to offer clients further cost and efficiency savings.

The other “Move to Improve” initiative is an additional option for finance companies that want Richmond Group to provide a back-office software system with cost certainty as they scale.

Richmond Group has partnered with software providers who have pre-configured their systems with Richmond-specified model office products, processes and reporting for timely deployment.

The systems service will be a fully-managed, cloud-based system with subscription pricing.

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