After entering the Age of Digitalization, lease management software became the backbone of success in the asset finance business. Nowadays, software is much more than a tool used to perform specific tasks. It needs to reflect market and business needs as well as changes in customer profiles. To stay ahead of the curve, the SOFT4Leasing Product Team is constantly working on innovations to make our lease management software more useful for leasing companies. New functionality is constantly introduced, but today is special because we are celebrating over 60 adjustments to the new version of our product, SOFT4Leasing SL61.
Let’s take a deeper look into how the new functionality will benefit your asset finance business:
- Billing functions have been enhanced to provide more flexibility and improved process automation at the contract activation stage. Different elements of lease/loan transactions can be either financed or billed upfront, billing can go to different parties (e.g. interest subventions, commissions, and other commercial incentives.) This is a very configurable feature that can be used with a wide variety of business models;
- Document management module of SOFT4Leasing has been enhanced, to enable a link between “Approval Conditions” and “Supporting Documents” attached to the application on submit for approval. This feature facilitates approval workflow and aimed to improve time-to-approval operational KPI.
- The originator (dealer, broker, salesperson) user interface has been fine-tuned as a part of our continuous improvement effort aimed at making operational performance at the origination stage (i.e. improving time-to-contact KPI) simpler, more usable, and convenient for front-office to back-office communication.
To ensure efficient cash flow management:
- Our Installment schedule tool has been extended by including a new Installment Fee component, used to apply additional charges for every installment;
- Installment schedule calculation for every financial product can now be configured to use the standard SOFT4Leasing calculation engine (Worldwide) or the newly implemented TValue engine, which follows the popular TValue software and can now be seamlessly utilized with SOFT4Leasing.
There are many more changes to meet the needs of the changing market and your business. Visit the SOFT4Leasing roadmap page and see the all-new SOFT4Leasing functionality for yourself. Let’s talk about how it can help your asset finance business!