A pandemic came out of nowhere and has hit the economy hard. It has affected global logistics and supply on a scale we’ve never seen before, which has had a trickle-down effect on ABL lenders. Depending on where you sit in the ABL ecosystem, you might be seeing more borrowers needing funding and/or existing borrowers feeling leveraged.
The increased demand is keeping lenders’ hands full with workouts for existing borrowers as well as figuring out which new deals to intake while the risk factors are now much higher. And to top this all off, there has been a nationwide mandate to stay at home. Fortunately, many of our ABL users have been able to work from home using our Cloud software and keep their back-office teams running business as usual.
A couple benefits of working from home with our software include an easy transition from workplace to home workstation with no downtime getting back to productivity, and accessibility to everything your team needs (from client records to monthly reporting) all in one place; this translates to fewer clicks and less time spent navigating. The platform functions as your team’s full system-of-record and is seamless when compared to other desktop-based systems.
A lot of our clients have been as productive, or more productive, working from home. While none of us knows what things will look like in the next 6 months, we have to ask ourselves going forward, whether working from home continues as the norm for ABL teams or if they ought to go back to the office full time? Maybe it looks like a hybrid?
We’d love to know what your organization has discovered while working from home. What’s working and what’s not? What tech-forward changes have you made to maintain productivity? When WFH is no longer mandated, what new practices will your organization hold onto?
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