Novuna Business Finance Generates £4M New Business Through Automation
- Asset Management
- 18.04.2023 11:40 am
Financial solutions provider, Novuna Business Finance, has generated an increase in £4m revenue in under one year through onboarding new car dealership customers since it started using a workflow automation platform provided by Workato.
Novuna Business Finance offers wholesale cash flow finance inventories that help its customers control their assets and financial commitments. It works with a range of customers including car dealerships and has been using a workflow automation platform from Workato for almost a year to enable it to onboard new car dealerships without the need for them to have a compatible tech stack.
Mathew Colville-Foley, Head of Change Delivery at Novuna commented: “In our industry, legacy technology can limit innovation. Adding new services or useful applications, or onboarding new customers is a challenge particularly when there are over 20 different finance technology systems used by car dealerships which are often based on legacy systems. Workato has enabled us to overcome those barriers through integration and automation without the need for our customers to have modern systems installed. As a result, we have been able to scale the business and service more customers than we thought possible before.”
Novuna has been using Workato’s automation platform for almost a year to make using finance tools easier for customers. It can be used by banks and financial service providers to serve customers without the need for having a compatible tech stack. It also enables businesses to create cost and time efficiencies and open new revenue streams.
“Despite the challenges of the current economic climate, Novuna has proven it is possible to drive business value and scale through automation,” said Derek Thompson, Vice President and GM, EMEA at Workato. “Our flexible, easy-to-use platform integrates with any system, including legacy, so businesses like Novuna can create opportunities to drive business efficiencies and unlock new revenue streams.”