UPLOADING ratebooks is time consuming, bogs down staff time in an essential process but non-selling role, and requires constant attention to remove time expired offers.
Enter Rate Sync.
Rate Sync essentially offers an outsourced solution to leasing brokers for uploading ratebooks. It comes at a time when the speed at which ratebooks now need to be made available and the ability to quickly react to time-sensitive funder tacticals, is ever increasing in a more complex marketplace.
And that includes dealer pricing, which is far from static. Rate Sync says that over a typical quarter it manages several hundred dealer rate books, with ongoing amendments as dealers update pricing, terms and availability.
That means expired or sold-out rates need to be removed promptly to prevent wasted customer enquiries which Rate Sync will also do.
“This combination of accuracy, professionalism and speed is ultimately why Rate Sync exists. Managing rate data at that scale requires ongoing ownership, not ad-hoc uploads.”
The people behind Rate Sync
Rate Sync was created by longtime leasing broker professionals Mike Smith and David Jenkins (pictured). Both run Rate Sync alongside responsibilities for their current brokerages, respectively NewCarsOnline and Willow Leasing.
“Mike and I both come from within the UK leasing industry and have experienced first-hand how difficult it was for brokers to keep rates current as volumes increased and funder and dealer pricing became more dynamic,” says David.
“We saw teams spending large amounts of time manually formatting spreadsheets, uploading CMS data and reacting to pricing changes rather than focusing on customers and growth.
“We also saw how easily small errors could slip through when updates were happening quickly, creating avoidable friction with funders and customers alike.
“Rate Sync was created to take that burden away. The aim was not to replace broker systems or introduce another platform, but to professionalise the process around rate management and make it something brokers could rely on day-to-day.”
Alongside Mike and David, the Rate Sync team comprises Chris Marshall (Finance Director) and pricing specialists Faraz Ahmad, Talha Maqsood and Sakariya Kadiye.
How Rate Sync helps brokers
For many companies in the broker channel, the hidden cost of rate management is the internal resource required to keep data up to date: reformatting spreadsheets, uploading CMS entries, chasing changes and correcting expired offers and so on.
According to David, Rate Sync removes this operational requirement from broker, dealer and funder teams, allowing staff to concentrate on advising customers rather than dealing with incorrect enquiries, or firefighting incorrect pricing.
“Rate Sync sits between dealers, funders and brokers, taking ownership of rate data from release through to publication and removal,” says David. “We take dealer rate books and funder tacticals and make them live on a broker’s CMS platform quickly, accurately and at scale. Technology is used to handle volume and repetition, while managed human oversight ensures there’s always accountability and control.”
Rate Sync says it currently supplies customers across the leasing ecosystem, supporting brokers, dealers and funders.
It has a pricing structure that starts at £595 a month for a small broker over a 12 month agreement rising in price for Medium, Large and Super Brokers. Three month trials are also available.
“We’re taking the pain away from manually uploading ratebooks,” adds David. “Automating it increases speed, accuracy and frees up consultants to talk to customers.”
Who should be considering Rate Sync?
For brokers, accurate and timely rates protect reputation, reduce wasted leads and allow sales teams to focus on genuine opportunities rather than correcting errors.
For dealers, the service provides a consistent and reliable route for pricing to reach the broker market without misinterpretation.
For funders, fast publication and prompt removal of pricing helps protect brand consistency and reduces friction caused by incorrect or outdated rates appearing across broker platforms.
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
