Today’s equipment finance companies realize that in order to remain competitive and thrive in the rapidly changing marketplace, they need to be optimized for efficiency and positioned to be strategically agile. To meet these requirements, companies are turning to their lease and loan management solution.
As a leading provider of lease and loan management solutions, LeaseTeam realizes that technology enables businesses to be innovative, to accelerate and to grow. As a result, they built ASPIRE™, an equipment finance lifecycle management solution that flexibly manages a contract from lead management through termination.
LeaseTeam developed ASPIRE with a flexible architecture that can be configured to meet the individual requirements of a business, both now and into the future. ASPIRE is also an end-to-end system that seamlessly handles all areas of managing a lease and loan.
The benefits of a complete lease/loan management system are numerous, and they can be felt across the entire organization. Some of these benefits include:
- The ability to stop talking about front- and back-end processes and start talking about a total transaction engagement lifecycle. Equipment finance transactions are no longer linear and companies need a system that will provide an all-encompassing view of their business with the efficiencies of single-system processing.
- Eliminating the need for multiple data entry points. Industry research shows 60% of businesses still have more than 80% of their customer data stored in multiple systems. Eliminating unnecessary entry points will not only lead to more efficient processes, but also eliminate data inconsistencies and improve the quality of your data. This, in turn, will improve reporting, providing a better understanding of a customer’s history, lifetime value, risk, potential exposures and even their propensity for future business.
- Greater transparency into your business. Changes made to a contract, including notes or comments, can be seen throughout the organization by logging in to a single system. You can also schedule intelligent workflows that can be implemented from origination, including task lists, email notifications etc.
- Documentation and credit functionality is available to both the front- and back-end processes. This helps streamline your processes and manage your transactions. For example, you can create late fee notifications, email them out and store them in the repository in one seamless process. It also opens up other options, like the ability to pull a credit report on a customer at any point in a transaction lifecycle.
- Benefits that are felt across the entire organization. Customers will enjoy better service levels, leading to greater loyalty, and better credit risk management and targeted marketing efforts will deliver long-term improvements in profitability.
In today’s competitive marketplace, customers have more options than ever before. The businesses that are responsive to their customers, anticipate their customers’ needs and tailor their business processes to best serve their customers gain a clear competitive advantage. That’s why it’s critical to understand the part technology can play in reaching these goals; there isn’t a better way to offer quality products and services, and to be responsive to your customers.
ASPIRE’s true end-to-end system is designed with a workflow orientation that focuses on standard business processes, integrating the data required by those processes, and automating, tracking and streamlining processes intuitively by each individual end-user.
The flexible nature of ASPIRE’s architecture also gives you the freedom to customize your system to meet the needs of your business today, tomorrow and forever—with over 30 configurable modules and integrations.