Provider of automotive lease financing for used vehicles.
Client Location, Areas Served
Eastern Canada serving mostly Ontario
A mix of different programs and manual templates to facilitate, track, and process all lease payments and activities from the time of application to termination.
Problems to Resolve
The current system tools did not provide the ability to track and generate a customer payment schedule based on actual due dates and payment intervals and lacked the ability to provide comprehensive and overall portfolio tracking, reporting or metrics analysis. Valuable time and resources were being lost due to the necessary manual entry of the initial lease data into the various templates used, thus increasing the possibility for human error. The client realized that the current system would not be able to support their business as their lease volume continued to grow.
Stated Business Needs
✓ Automate processes to eliminate redundancy/repetition of data entry and reduce the possibility for human error
✓ Obtain a centralized database and streamline procedures for all lease activites
✓ Have access to real-time portfolio management and reporting
✓ Provide cohesive, real-time data to all employees for tracking, reporting, and collection
✓ Improve customer service and response time
Ryznware™ Implementation Results and Benefits
Once all lease transaction details and historical data had been captured and recreated, the result was a completely accurate and centralized database that all users could share and obtain both real-time and historical lease data from. An origination module was included which allowed documents to be generated automatically using pre-formatted templates, dramatically reducing the time spent on mundane and repetitive tasks. The solution delivered on all stated business needs while also providing real measurable and long-term savings through the increased efficiencies gained in lease administrative and collection tasks.
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