Business process and system outsourcing

“Move to improve”

A service to manage all or part of your back office processes from our low cost European offices

  • Using your systems or those of our preferred partners
  • Providing substantial costs savings
  • Flexible as to managing all or part of your back office and/or finance department processes

Back office process and system outsourcing

Move to Improve - what we do

Richmond Group will manage all or part of your lessor back office processes from our nearshore European location using Richmond-trained, English-speaking staff

Providing substantial cost savings compared to using inhouse resources

  • Offer 1 - Using your systems OR:
  • Offer 2 - Using our preferred software partner’s systems for additional cost savings

Move to Improve - how to transition your back office to Richmond Group

  • Richmond Group investigate your costs and processes
  • We report on where and how efficiencies can be made, whether by automation or by deploying our outsourcing services
  • Fixed term service contracts are agreed with our UK-company, regulated under English law
  • Transition period is initiated
  • Back office is live using your systems or ours

The Benefits

Benefits from outsourcing your Back office processes &/or Finance taskks

  • Substantial savings in staff costs as well as  the administrative, infrastructure & overhead costs needed to support them. Leading to increased bottom line profit
  • Allows re-deployment of current staff to higher value-add tasks
  • Allows you to focus on origination and cultivating customer relationships whilst Richmond Group focuses on delivering excellent service for the back office and finance
  • A flexible, compelling pricing model for certainty of back office costs
  • Scale up without the need to address staff or office space needs

Additional benefits by using our preferred software systems

  • Fully-managed cloud-based system
  • Subscription-based pricing for greater cost certainty
  • A practical solution for portfolios of any size. For established or start up companies
  • Very competitive price

Support coverage

Back office  management for lessors

  • Booking/activation to CMS
  • Contract maintenance (for changes,
    subject access requests etc)
  • Managing e-docs & e-signature processes
  • Post booking events:
    • Terminations (voluntary/hostile/
      other)
    • Lump sum payments/
      partial settlements
    • Re-financing/re-scheduling
    • Extensions
    • Novation
    • Managing add-on service requests
  • End of contract
  • Registering/de-registering asset liens
  • Asset recoveries
  • Asset re-marketing

 

Supporting collections

  • Dunning letters
  • Managing follow up letters
  • Invoicing and cash application
  • Processing ATPs (Arrangement to Pay)
  • Processing payment holidays

 

 

 

 

 

 

 

 

Finance and lease accounting support

  • GL reconciliation
  • Maintaining GL controls over the CMS
  • Monthly management accounts
  • Help with filings e.g. preparing VAT reports
  • Providing reports and analyses

 

 

 

 

 

 

 

 

Further information

To view or download any of our product sheets, including that for Systems Evaluation and Selection, please use our quick and easy Login or Register your account

You can view all our downloadable documents here.

Working with Richmond

Equipment finance expertise

Deep understanding of equipment finance and leasing

International

Delivering projects in Europe, the Americas and Asia

Practical and pragmatic

Experienced, knowledgeable, safe