Tuesday 15th Sep 2020
As COVID-19 brought on a flood of uncertainty and the sudden requirement to adjust to a ‘new normal’ – many roles and responsibilities shifted in order to provide the same level of support and care to customers.
This has never been truer for finance professionals, as business leaders search for new ways to secure the financial future of the organisation and safeguard against any potential catastrophes.
It is a broker’s remit to listen carefully to concerns, provide constant reassurance and tailor ‘perfect solutions’ for customers, as each one presents a unique set of circumstances. But with this increased demand, does this mean that our industry’s employees are becoming virtual bank managers?
It’s a common misconception that a finance broker’s job ends once they have compared interest rates and loan products and identified the best option for their customer. However, we know that this isn’t the case.
Savvy professionals are in fact challenged with exploring the market for potential options to alleviate a client’s financial concerns. And, whilst there is no one-size-fits-all approach, no reputable broker would recommend a method before first understanding each unique set of circumstances.
After mapping out the correct course of action, the broker will then act as a sounding board – assisting in the application documentation, clarifying the fine print, and even identifying key areas of concern which may be hindering plans for company growth.
In modern-day society, the role of our industry’s leaders can, of course, still be likened to that of a bank manager in their determination to secure the financial strength of an organisation, while overseeing general administrative processes and monitoring the company’s efficiency in its practices and workforce.
But each important profession has an integral role to play in how these roles evolve to meet diversifying customer demands. For example, as the entire UK workforce shifted to remote working, there has perhaps been a greater emphasis on brokers using more online platforms to allow for smooth channels of communication so they can provide the same level of service.
And with this heightened focus on the virtual workspace, it has become even more possible for finance professionals to truly get to know their clients, conduct critical research and provide tailored solutions – without the need to travel or be in the same room.
As the business world gains momentum, organisational leaders will begin to focus more on dispelling cashflow worries while customers search for a trusted and proactive voice to help. For a modern-day broker, this is the moment to step up to the plate and provide a bespoke, valuable and responsible solution to ease invoicing issues for new and existing clients.
Get in touch with Hitachi Capital Invoice Finance today to find out about how our straightforward finance solutions currently help over 800 SMEs across the UK.