Learn why digital transformation is essential for the equipment finance industry, especially in the post-COVID-19 era. Discover the key benefits, including reduced operational costs, increased efficiency, and improved reliability.
The key trends in equipment finance technology to look for in 2023 and beyond to look for:
Automation: Streamlining processes and providing faster, more accurate decision-making.
Digital Platforms: Transforming interactions with customers by enabling customers to apply for financing, manage accounts and access information and services online.
Internet of Things (IoT): Providing data on performance and usage to improve maintenance schedules, predict equipment replacement timeframes, and identify opportunities for cost savings.
Block-Chain Tech: Providing greater transparency and security enabling companies to create secure records of equipment ownership and transactions, reducing risk for fraud and errors.
There are many benefits to adopting a framework that elevates digital agility and brings your equipment finance business into the digital age:
Empower Self Service with direct customer access of contract details, secure payments and quick communication
Quick Access to FAQ’s reduces Customer Service Inquiries and improves Customer Satisfaction
Improve Productivity by refocusing your workforce on revenue-generating tasks
Without fully understanding who is responsible for what when it comes to Disaster Recovery, there could be a bigger disaster looming
3 Key Criteria To Look For:
Security & Compliance to ensure confidentiality, integrity and availability plus regulatory compliance and multi-layered security
Availability with a 99.5% Service Level and Disaster Recovery
Scalability & Performance to allow for growth and expansion
Without fully understanding who is responsible for what when it comes to Disaster Recovery, there could be a bigger disaster looming
Without fully understanding who is responsible for what when it comes to Disaster Recovery, there could be a bigger disaster looming. Having a Disaster Recovery Plan in place is critical to protect your business during crisis.
When it comes to understanding the 2022 and beyond barriers to bringing digital transformation into any enterprise …
Imagine this scenario – you have a major security threat to your cloud. You’ve been hacked – Ransomware
Work arounds (or manual processes) wreaking havoc on time to book a deal? So many legacy systems are being used to service portfolios. Many of… Read More »Why Manual Work Arounds Should be Eliminated
Many companies find their legacy system is not able to keep up: After long wait times Putting band aids on processes Not prepared for the… Read More »What is Killing your Company’s Productivity?
As one of the six original employees to LeaseTeam, now LTi and the third most tenured employee, after 28 years of working at LTi, Joyce… Read More »Joyce Berglund: Employee Spotlight and Retirement Farewell
Digital transformation is defined as a customer-centric reimagination of the future of digital technology into all areas of business, profoundly changing how it operates. But… Read More »Digital Transformation and Why It Matters
Randy Haug, Executive Vice President, Vice Chairman, and Co-Founder of LTi recently spoke about how the equipment finance industry has been dealing with the pandemic,… Read More »State of the Equipment Finance Industry 2021: Randy Haug, Co-Founder, LTi Technology Solutions
The Equipment Finance and Leasing Association (ELFA) is honoring Randy Haug with its 2021 Advocacy Award for his extraordinary contributions to the association. Randy Haug… Read More »LTi Co-Founder Randy Haug Honored with 2021 ELFA Advocacy Award
Last week, LTi Technology Solutions attended Equipment Leasing and Finance Association’s Women’s Forum. As a special one-day virtual event, the Forum focused on leadership development… Read More »ELFA Women’s Leadership Forum 2021: Reinvent Yourself Session Recap
The London Interbank Offered Rate (LIBOR) serves as a globally accepted benchmark interest rate that indicates borrowing costs between banks. It’s a globally recognised base… Read More »The LIBOR Transition: How Can Industries Prepare?
Recently, Forbes Advisor ranked Omaha, Nebraska as No. 2 best cities for renters to live. Omaha often appears on the top 10 best places to… Read More »Omaha Named No.2 Best Cities for Renters 2021
Jenny Jarose is the Sr. Director, Human Resources & Administration at LTi. She has been working with LTi’s Human Resources Department in the Omaha, Nebraska… Read More »Employee Spotlight: One Year Reflection on COVID-19 with Jenny Jarose
The financial environment has altered significantly in the UK since the pandemic, putting serious pressure on the asset finance landscape. However, the financial environment has… Read More »3 Benefits of Adopting Open Banking in the UK Marketplace
Recently, the Monitor checked in with technology leaders around the industry, including one of LTi’s very own IT leader and COO, Bill Weeks. In the… Read More »What It Takes to Be an IT Leader Today: Catch up With LTi’s COO, Bill Weeks
After nearly five decades, Britain has officially left the EU, breathing a new chapter for its future with Europe. This has been a tumultuous road… Read More »What Does the Brexit Trade Deal Mean for Asset Finance?
Customer loyalty and maintaining relationships with customers have become a focus for equipment finance companies with the coronavirus crisis. Companies want to continue to provide… Read More »4 Ways to Improve Customer Loyalty During COVID-19
Last month on Dec. 8, the UK received the first doses of the Pfizer/BioNTech vaccine. On Dec. 11, the U.S. Food and Drug Administration (FDA)… Read More »Trucking Sector Prepares to Mobilise for COVID-19 Vaccine Distribution
Before COVID-19 required companies to work remotely, the global economic climate had already accelerated the adoption of cloud security. The pandemic has shown just how… Read More »Did COVID-19 Accelerate the Adoption of Cloud Security?
What a year it’s been! At LTi, we’ve been busy forming new partnerships, enhancing our solutions, creating new solutions, and continuing to enrich our communities.… Read More »2020 LTi Year-End Review, and Happy Holiday Wishes!
The COVID-19 pandemic has caused a global scale of fear, stress, and uncertainty. Everyone has their own ways of coping with stress and different approaches… Read More »Using Technology to Promote Your Mental Health During COVID-19
The farmer’s life isn’t an easy one. Long before the sun pierces the fields that line the horizon, a farmer is up preparing. The preparation… Read More »Augmented Reality & Asset Management
Every year people create New Year’s resolutions. And every year, many of those resolutions fail. Well-meaning goals get buried under the chaos of day-to-day life.… Read More »Use a Focus Phrase to Make 2021 Your Best Year Ever
The COVID-19 pandemic has fundamentally changed how consumers across the world view products, brands, and customer service. In the post-coronavirus era, we will see more… Read More »How ASPIRE’s Customer Portal Brings Your Business into the Digital Age
As the impacts of COVID-19 reshape equipment finance, companies are rethinking the ways they work. Now more than ever, it is crucial to modernize processes… Read More »Electronic Signatures: Achieving Digital Transformation with ASPIRE’s DocuSign Integration
Some of the largest conferences like Equipment Leasing and Finance Association Annual Event and National Equipment Finance Association Funding Symposium have gone completely digital. In… Read More »Virtual Event Follow-Up: 3 Things to Do
The pandemic has forced people around the world to work from home, intensifying the need to adapt and connect in a virtual world. To stay… Read More »How to Navigate the World of Virtual Speaking
Recently, many industry conferences and trade shows from Equipment Leasing and Finance Association, Canadian Finance & Leasing Association, National Equipment Finance Association, and Leasing Life… Read More »Shifting to Virtual Events and Maximizing Outcomes from Industry Conferences
To keep up with continually changing customer needs, wholesale funders must invest in priortising their back-end systems and processes. While wholesale funders are investing in… Read More »Optimising Back-End Systems to Cope with COVID-19 in UK Marketplace
LTi Technology Solutions recently appointed David Hayes as Strategic Account Manager. David comes to LTi with 23 years of experience managing daily activities and overseeing… Read More »LTi Welcomes David Hayes as Strategic Account Manager
As we reflect on disruptions we’ve seen in equipment finance, several key questions are being asked by business leaders. The answer to all these questions… Read More »Digital Agility as a Way of Operating Equipment Finance
Where do young professionals who make up a third of the working population go to start their careers? When it comes to finding a new… Read More »7 Best Cities to Live in for Young Professionals
LTi Technology Solutions recently appointed Randi Maddox, a 23-year veteran in the equipment finance industry, as Portfolio Migration Manager. In her role as Portfolio Migration… Read More »LTi Names Randi Maddox as Portfolio Migration Manager
There’s a lot of talk lately about how equipment finance companies will create a digital customer experience in today’s environment. To transform the customer experience,… Read More »Recap of ELFA Webinar: CTOs and Creating a Digital Customer Experience
How will equipment finance companies prepare for the new normal? As equipment finance companies consider the next phase, many realize it’s no longer an option… Read More »Recap of NEFA Town Hall: Technology in the New Normal
As recovery starts to take shape, several digital trends have become apparent in the equipment finance landscape. In just a few months, COVID-19 has accelerated… Read More »6 Digital Trends Shaping Equipment Finance
Lease modifications are on the rise. As the world comes to grips with the effects of COVID-19, business leaders are focused on managing their cash.… Read More »Lease Modifications Alter Equipment Finance Landscape
In the wake of the coronavirus pandemic, businesses have put a greater focus on operational resilience. Recently, Equipment Leasing and Finance Association hosted a webinar about… Read More »Operational Resilience Will Drive COVID-19 Recovery for Businesses
For many of us, the scale of the coronavirus has perhaps been the most significant experience of our lives. It will have long-term effects on… Read More »How the Workplace Will Change in the Post-Coronavirus Era
Powerful Platform
Passionate People