Minnetonka, MN – September 3, 2024. Channel is honored to be the recipient of the ELFA’s 2024 Operations and Technology Excellence Award, which recognizes financial organizations for their innovative use of technology and data within the industry. This prestigious award highlights Channel’s successful implementation of both an operational excellence initiative and a technology innovation effort, known as the Customer Focus Project.
Channel was recognized for its dedication to transforming its processes and systems, building a more efficient and sustainable framework for growth. Working with an external partner, Channel conducted a thorough assessment of its operational procedures and technological infrastructure. The initiative engaged the entire organization in the development of capability charts, process mapping, gathering partner insights, and measuring performance against industry standards. These efforts led to significant annual cost savings and improved customer satisfaction, with faster issue resolution and enhanced technology.
“Our strong culture and rapid growth improved team efficiency, but we recognized the need to enhance our enterprise processes for continued success,” said Mark Blais, Chief Information Officer at Channel. “We took a collaborative approach to revamp our business processes and technology, and focused on a win-together approach that prioritized our partners’ needs. Leveraging external consultants, internal teams, and our partners, we designed exceptional solutions across the company. This massive initiative laid a solid foundation that delivered outstanding results for today, and years to come, for our partners and teams.”
“Channel’s impressive transformation project exemplifies how to effectively streamline operations while supporting sustainable growth,” said Chelsey Barron, VP of Sales Operations at LEAF Commercial Capital Inc. Peter Haug, Project Manager at LTi Technology Solutions, says, “We look forward to sharing their journey at the upcoming Operations and Technology Conference and inspiring other ELFA members to innovate and optimize their operations”. Barron and Haug served as the co-chairs for this award.
Channel’s project will be featured at ELFA’s Operations and Technology Conference, taking place from September 9-11, 2024, in Nashville, TN. Blais and others from the Channel team are eager to present their strategy for managing growth while fostering a win-together approach for team members and partners. This achievement reflects the team’s hard work and the value of their enduring partnerships, fueled by a shared focus on continuous growth and mutual progress.
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About Channel | Established in 2009, Channel is a leading full-service independent lender offering a single source solution for both equipment finance and working capital to small businesses exclusively through equipment finance companies. To date, Channel has funded over $2.2 billion across more than 24,000 transactions throughout the U.S., from its main office in Minnetonka, MN, along with additional locations in Atlanta, GA, Des Moines, IA, and Marshall, MN.
About ELFA | The Equipment Leasing and Finance Association (ELFA) represents financial services companies and manufacturers in the $1 trillion U.S. equipment finance sector. ELFA’s 575 member companies provide essential financing that helps businesses acquire the equipment they need to operate and grow. Learn how equipment finance contributes to businesses’ success, U.S. economic growth, manufacturing and jobs at www.elfaonline.org.