Since its founding in 2006, Kapitus has provided $8 billion in financing to 65,000 small and medium-sized businesses. Its success has come from keeping the best interests of its clients first, and that strategy is supported by meticulous business practices. “As a non-bank financing provider, liquidity is key to our business,” explains Travis Spencer-Coye, SVP of Financial Innovation and Transformation. “Our liquidity is a daily calculation.”
Market volatility in 2020 compelled Kapitus to look for a better way to manage liquidity and capital markets planning. “When requests from the board came through to do ‘what-if’ scenarios, we had up to a dozen different files that we were pulling information from,” Spencer-Coye recalls. “The team spent hours opening files and checking numbers, as opposed to compiling presentations and reports.” The Kapitus finance team sought a technology platform that would enable them to assess risk and respond rapidly to change, all while expanding the company’s loan portfolio.
Envisioning what’s possible
The Kapitus team selected the Anaplan platform as the foundation for financial processes. The team rapidly developed Anaplan models for its liquidity and sales teams, and added an optimization model within liquidity.
To ensure consistency and best practices throughout the business and drive user adoption, Kapitus created an Anaplan Center of Excellence (CoE). “I’m proud of the fact that I was able to build a team,” says LaTrisha Major, Manager of the Anaplan Center of Excellence at Kapitus. “But more importantly, that the executives see the vision for Anaplan and they fully support the Anaplan CoE.”
Keeping pace with growth
With the Anaplan platform, Kapitus has unlocked agile, data-driven decision-making for the liquidity and capital market strategy teams. “We are able to execute more quickly, and the information that we have from Anaplan allows us to improve that execution,” says Spencer-Coye.
“In liquidity, the time it takes to understand the numbers and get the data to the people who make financial decisions has been reduced by at least 50%,” Major says. “What works better in our business is the ability to determine what contracts we’re going to fund.” And when new capabilities are needed, they can be quickly created and deployed with Anaplan. “My favorite thing about Anaplan is the fact that I can build something, and that people can use it in real time,” she says.
Spencer-Coye adds that the Anaplan solution helps Kapitus improve customer service without adding headcount, and this ultimately enables the company to offer better rates to its customers. “In today’s environment, I don’t think we would have been able to keep up with the growth without it,” he concludes.
