Richmond Group, equipment and auto lessor advisors and specialists, launched two outsourcing services, branded as “Move to improve,” aimed at providing substantial savings in back-office processes and systems costs for equipment and auto finance companies.

“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. 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,” said David Pedreno, Richmond’s Director.

Move to Improve - the Outsourcing Offer

“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,” said David Harmer, another Richmond’s Director.
Richmond said its offering flexibility in the processes it is prepared to manage, from taking on individual processes to providing full back-office support. It also sees its ability to support the finance and lease accounting function as an opportunity to offer their clients further large cost and efficiency savings.

Move to Improve - the System Provision Offer

The other Move to Improve initiative is an additional option for finance companies that want Richmond to also provide a reliable back-office software system at reasonable price along with cost certainty as they scale.

Richmond’s response has been to partner with software providers who have pre-configured their systems with Richmond-specified model office products, processes and reporting for efficient timely deployment.

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