Deals Move Faster When the Process Does

As a broker, you know digital applications are faster. But how much faster?

32%. Our research partner, Sawbux Marketing, found that brokers who use fully digital application processes close equipment financing deals one-third faster than those still relying on paper documentation, faxes, or manual data entry.

Why it matters: In a market where speed determines who captures the deal, that gap is existential.

• The landscape: Today’s business owners have been trained by consumer apps to expect instant everything. When your financing processes require too much printing, scanning, or waiting for mail, you’re slower than both digital-first brokers and your customers’ expectations. That mismatch can be a deal-killer.

Here are the top 3 reasons the digital-first experience works better for brokers and customers:

• Online document collection eliminates your biggest bottleneck. Digital uploads and e-signatures eliminate the 3–5 day delay that paper processes create, turning week-long applications into same-day submissions.
• Error rates drop dramatically. Digital applications with built-in validation catch mistakes before submission, reducing the back-and-forth that delays approvals and frustrates customers. 
• A smoother customer experience drives referrals. Business owners who complete financing digitally rate their broker experience 44% higher—and refer at nearly twice the rate— compared to owners who endured paper processes.