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.
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, [email protected]
SOURCE Conga
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