Leading provider of financial products and services to the
agricultural industry leverages Conga Composer to increase
efficiencies by 50-100%
BROOMFIELD, Colo., July 17,
2024 /PRNewswire-PRWeb/ -- Conga, the pioneer and
market leader in Revenue Lifecycle Management, today announced that
Cooperative Finance Association (CFA), a provider of financing
products and financial services to agricultural cooperatives and
their members, has implemented Conga Composer to broadcast new
features, share contracts, and communicate with its members quickly
and efficiently to continue to provide an exceptional customer
experience.
It's hard to overstate how much Conga
Composer has gained for us. We're at least 50% more efficient and
maybe 100% more efficient.
Based in Kansas City, Mo., CFA
has provided reliable financial products and services to support
the agricultural industry in the United
States since 1943. When cyclical events like droughts and
extreme weather hit, CFA services protect farms by offering an
alternative to private bank loans. CFA's primary goal is to support
business continuity for agricultural cooperatives and their
members. Over the last three years, CFA's portfolio grew from
$540 million to $3 billion, with this rapid growth expected to
continue, targeting $5 billion by the
end of 2024 and $6 billion by the end
of 2025.
Communicating and sending documents to CFA's customers has
historically been laborious – everything was emailed to one person
at a time, causing issues with tracking communications, document
changes, and document status. Unfortunately, the platforms used
weren't capable of centralizing or scaling these communications,
creating big problems at the rate CFA was growing and the
additional revenue they needed, along with increased opportunities
for errors based on the need to communicate with a rapidly
increasing number of clients.
CFA sought document automation software from a technology
partner that could work with them as revenue grew and the business
evolved. Implementing Conga Composer, CFA teams can embed document
generation solutions into any website, application, or platform,
and populate documents with data from any source. CFA's employees
can also quickly and automatically build, manage, and distribute
templates from a single location to multiple individuals with Conga
Composer. Additionally, Conga Composer eliminates manual copying
and pasting, integrates with existing email and eSignature
providers, and saves backup copies of documents automatically.
Instead of relying on tribal knowledge to follow communication
protocols, users can now use clear, repeatable, automated processes
available within the software to ensure a consistent customer
experience and support CFA's anticipated rapid business growth.
"It's really important to us at CFA – and to me from a
technology standpoint – that we have a document automation solution
that is scalable, matches the speed of innovation, and provides us
a true value add," said Doug
Richards, Senior Vice President and Chief Technology Officer
at CFA. "It's hard to overstate how much Conga Composer has gained
for us. We're at least 50% more efficient and maybe 100% more
efficient."
Conga Composer has greatly sped up the communication and
approval process for CFA's revenue lifecycle. For complex processes
that require tracking back-and-forth communications among multiple
parties – like originating a loan – a central repository that
automates each step in the process keeps business moving and
organized. This makes it easy to check the status of a loan and
ensure that the client's needs are met in a timely fashion.
With Conga Composer, not only is it faster and easier to get
accurate communications out to the right parties, but it's also
less stressful for CFA employees. The solution's automation
features have drastically reduced the risk of mistakes due to human
error, lowering employee anxiety. Conga Composer has helped CFA
elevate human performance by shifting time away from tedious and
repetitive tasks to those directly focused on customers, ultimately
increasing customer satisfaction.
"Manual, time-consuming document generation processes can
overload teams, reducing the quality of service they're able to
provide customers," said Noel
Goggin, CEO and Culture Leader at Conga. "Customer service
is where CFA excels and that's what their reputation is built on.
With the right solution like Conga Composer in place to help
automate and streamline communications and approval processes, CFA
has bolstered that reputation and successfully overcome these
challenges to create a consistent workflow that will scale easily
as their business grows."
To read the full CFA case study, please visit:
https://conga.com/customer-stories/cooperative-finance-association
About Conga
Conga, the Revenue Company, is the pioneer and market leader in
Revenue Lifecycle Management. Its platform is chosen by the world's
growth champions to accelerate the end-to-end revenue lifecycle and
achieve a Revenue Advantage. Conga brings Configure, Price, Quote,
Contract Lifecycle Management, and Document Automation capabilities
together on a single open platform that works with any ERP, any
CRM, and any Cloud. Conga is born for the top line—powered by a
unified revenue data model, complete revenue intelligence, and
purpose-built AI—to help companies grow, protect, and expand their
revenue.
Conga delivers a Revenue Advantage to over 10,000 customers and
6.4 million users around the world. More than 7 million contracts
and 46 million quotes are generated annually with Conga. Founded in
2006, the company is headquartered in Broomfield, CO and has offices across
the United States, India, and Ireland. Visit conga.com for more
information.
About Cooperative Finance Association (CFA)
Serving the Agricultural Industry since 1943, the Cooperative
Finance Association, Inc. (CFA) is an agricultural finance
cooperative based in Kansas City,
Missouri. We offer a full range of financial products and
services to agricultural cooperatives and their customers
throughout the nation. Our membership-based services include
operating and term loans, single-purpose inventory financing,
point-of-sale production agriculture financing, and more.
Media Contact
Addie Reed, Conga, 1
312-766-5515, addie.reed@finnpartners.com
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SOURCE Conga