Leasing businesses can be completely out of the loop when it comes to finding ways in making their operations more efficient. Leasing companies are no exception. If they’re still not using leasing software for contract and client management – they’re missing out big. However, if companies are using leasing management software, there’s a serious chance that they’re missing out on some of the benefits that particular software solutions can offer. In this article we will focus on some of the undervalued but greatly beneficial features of SOFT4Leasing.
Automated credit scoring – better decision-making
You might be aware of the fact that leasing software can automate a lot of documentation, but you might not have been familiar with its capabilities on influencing decision-making. One of the core features of the SOFT4Leasing tool is the automated customer credit score calculation. Based on multiple assets and a very configurable and flexible scorecard tree, your team can automatically (one-click) determine whether an applicant can be auto-approved, will be auto-denied or requested for further chek-ups.
Both directly and indirectly, this feature helps leasing companies find not only the better decision, but do it much quicker than before, saving precious time and allowing to allocate precious resources to other areas. Time-to-decision KPI’s are especially affected, in a positive way, of course.
Leasing software with e-Signature integration saves a lot of time
In the past, responsible managers or employees had to print out forms, sign them and hand them over to their superiors. Which meant that the stack of papers on the desk of higher-ups could become comical. This wasn’t a time-efficient method of handling paperwork, always causing pile-ups, delays, etc. With the adoption of digital tools, leasing management software (or at least some options out there) have allowed to streamline this process and make it much more efficient. Through the simple integration of digital signatures, leasing companies and clients can now sign and process a lot more paperwork in the same amount of time. This makes the jobs of CFO’s, staff managers and chief administrators all that much simpler. The document can be signed via SOFT4Leasing interface and handed over to those, who need it.
Result and process analytics with one-click
The reporting tool is one of if not the single most useful tool in the whole software. Albeit every used takes advantage of it, the reporting tool occasionally remains undervalued. The entire leasing system and its efficiency revolves around the fact that it’s able to crunch numbers and analyze numerical data which the employees input. Hence, if the software is capable of generating insightful, easy-to-understand and useful charts, the efficiency of work can improve dramatically.
The reporting suite on SOFT4Leasing software is aimed at giving the decision-making powers into the hands of the user. Most organizations take these ready-made analytics and reports for granted. If you were to do forecasting manually – it would take tremendous efforts and resources just to get some basic results. Being able to get automated forecasts and insightful analytics is something that’s very useful to each user. In Microsoft Dynamics-based software tools, the feature which handles all of the data in this area is called POWER BI.
Automated document management is something that businesses also come to expect with every lease management software. However, there is a fine line between just regular document management (e.g. data storage and categorization) and truly automated document management. The latter is better and SOFT4Leasing offers the better option.
First and foremost, you can create new documents internally, to have for future use. Store them in the software without having to scout all virtual and internal drives for the right version of the file. The best part about automation is the fact that you can draft templates (e.g. for contracts, etc.) and easily map the data for these templates. Such capabilities greatly impact work efficiency for administrative staff and personnel that are handling these day-to-day tasks like sending out bills, drafting contracts, etc.
Furthermore, people will be able to export these documents at will, as well as integrate new data with the general ledger. Such, even automated document management is great news in terms of audit preparation and just for transparent, consistent bookkeeping in general.
An external web portal for 3rd parties
A feature that should get a nod but rarely does is the dedicated portal feature, aimed at giving access to 3rd parties that work together with leasing companies – dealers and brokers. When working with a broker, your sales people can submit their quotes for the broker to allow them to easily introduce these offers to their clients. This makes the path from a new lead to making a deal – that much shorter. Once the details are agreed upon, the projected deal can be submitted via the same system for final approval by the designated personnel.
And with regards to the dealers portal, it works in pretty much the same manner, but with a different goal in mind. Dealer portals are all about sales channel and the reach that you can get. SOFT4Leasing has a feature that enables equipment dealers to introduce new and exciting prospective deals to you from their own sources. This takes a lot of responsibility of the hands of your staff whilst retaining the potential of new business. The dealer will be able to make a quote for the customer and fill in the quote whilst submitting the request for approval via leasing software’s very own dealer portal!