British Business Bank to help small businesses boost UK economy

British Business Bank is to provide support for small businesses in the UK by taking its CRM system to phase two.

The system will provide small businesses with more access to financial markets, enabling them to grow their company, create more jobs and boost the UK economy.

Information

British Business Bank, which is owned by the government’s Department for Business, Energy and Industrial Strategy (BEIS), has been working on a system that is based on Microsoft Dynamics 365 with the aim of providing businesses with more access to information about their financial choices.

The organisation has been collaborating with technology consultancy Tisski on the project, which was first carried out between August and December 2017.

The first phase of the project delivered the core relationship and activity management systems, which enabled British Business Bank’s employees to manage activity beyond the funding process, and also dealt with the management processes and the migration of existing data.

The second phase of the project has now been put into action and will look at boosting the process for deal management.

Access

British Business bank was formed with the aim of providing small businesses with more access to finance, as well as more diverse finance options, with the organisation working through venture capital funds, banks, leasing firms and more than 100 partners to achieve this.

Commenting on how the new system will benefit small businesses, British Business Bank Senior Manager David Miles said: “The new CRM system will streamline many aspects of our work. Ultimately, it will help more UK smaller businesses to get the funding and information about finance choices they need to grow, create jobs and boost the UK economy.”