Network, the UK’s leading funding provider in the fleet broker market, today issued a set of the top ten skills sets that SMEs expect from the modern broker. The list is a result of a study conducted by the company, which identified what broker customers expect of their providers.
A far cry from the traditional image of the 1990s broker, the industry today is made up of professionals with a wide leasing skill set designed to help them compete in an increasingly sophisticated market. These figures show that customers are now beginning to call upon that know-how a great deal more.
- Knowledge of funding packages (demanded by 100% of SMEs)
- Client relationship skills (100%)
- Vehicle/model knowledge (100%)
- Sales skills (84%)
- Familiarity with insurance products (83%)
- Effective underwriting process (67%)
- Up-to-date knowledge of legislation issues (66%)
- Building strong relationships with funders (50%)
- Building strong relationships with manufacturers (33%)
- Knowledge of environmental issues (17%)
Top of the list, unsurprisingly, comes knowledge of funding packages, knowledge of vehicles/models and good client relationship skills.
However, expertise in a range of other areas has also become important to the SMEs that predominantly use brokers. Familiarity with insurance products was important to the customers of 83% of brokers, and significant numbers also highlighted knowledge of relevant legislation and environmental knowledge as key skills for brokers.
The study also showed how modern brokers are ensuring they foster this talent. A third (33%) offer external formal training to their employees, either through a funding partner or from another external supplier.
Christophe Desplace, Director - Network Brand, comments: “What’s clear from this study is that SMEs are demanding more than ever before. There’s a slow realisation that these brokers are more that simply a good salesmen with a working knowledge of funding. They’re now displaying the kind of professionalism needed to thrive in the world’s most mature leasing marketplace.
“The best intermediaries are able to add real value to their customers by supplying more than simply a vehicle – they provide advice that can make running a fleet, however small, more effective. The next step is for the whole sector to live up to the example of these standard-setting brokers.”
