For our latest meet the team feature, we speak to James Munro, who manages the financial transactions between Renaissance Asset Finance and our clients.
What does your role entail?
My role as credit controller is to ensure the timely payment of invoices and outstanding debts owed to the company. This involves monitoring client accounts, sending payment reminders, and following up on pending payments through phone calls or email communication. As a credit controller, I am responsible for maintaining accurate and up-to-date records of all financial transactions related to accounts receivables and for providing regular reports to management. Additionally, I also negotiate payment plans with clients who deal with bad debt agreements, administration, CVAs, and other issues involving insolvency.
What trends are you seeing in the asset finance industry?
The asset finance industry has been embracing emerging technologies such as machine learning and blockchain to improve efficiency and speed up loan processing. The pandemic has caused disruptions in the industry, with some sectors experiencing a decline in demand, while others have seen an increase in demand for asset finance solutions.
How can asset finance support your clients?
Asset finance allows clients to purchase or lease equipment, machinery, and high-end vehicles without spending substantial amounts of money upfront. This means that our clients can conserve cash for other business-related expenses. It reduces financial risk with asset finance as the financial risk of owning or leasing equipment is transferred to the finance provider, providing a level of protection for our clients.
What would you say is noteworthy about Renaissance Asset Finance?
Renaissance Asset Finance offers a range of financing solutions, notably hire purchase, finance lease, and block discounting. We focus on flexibility with the understanding that every business has its own unique financing needs and, therefore, we strive to provide flexible financing solutions that meet their needs. Renaissance Asset Finance has strong industry expertise with over 25 years of experience where we have built a strong reputation in the industry and have the expertise to provide tailored solutions for businesses in different industries.
Are there any personal or professional highlights so far this year for you?
I have been with Renaissance Asset Finance for almost a year now, and in that year, I have watched the company grow its book. It is always good to see that the company you work for is reaching certain milestones. I put this down to how hard the Renaissance team work to deliver such a professional service.
Finally, do you have any hobbies/interests outside of your role?
I enjoy staying active. I am a swimmer and cyclist, and I have also recently taken up squash with a few friends. Squash is very competitive and enjoyable, and I still have a lot to learn as I am yet to win a game. I enjoy all sports, but my ultimate passion is rugby, I also like spending time with my family and friends.
James Munro
