A lease or rent-to-own lender for a variety of consumer goods through third party retail stores and outlets.
Client Location, Areas Served
Southwest US serving selected states.
All Lease agreements and forms as well as payment schedules were maintained on Excel spreadsheets along with the accounting software to maintain opening finance amounts and cash receipts.
Problems to Resolve
Support future growth and addition of stores would require complete automation and streamlining of current processes.
Obtain on-demand and accurate financial, product and customer analysis.
Stated Business Needs
In order to efficiently handle additional future stores and increase in lease requests, the software would have to include the following:
✓ Document templates and auto generation
✓ ACH payment integration
✓ Lookup price tables for ease of lease schedule setup
✓ MACRS and straight-line depreciation tracking
✓ Various incentive payment and payoff programs
✓ Collection module with note tracking
✓ Comprehensive reporting
Ryznware™ Implementation Results and Benefits
Starting with the core lease accounting software system, the customers and store profiles provided a historical reference and lookup for repeat business. Lease setup was simplified through the use of a price table for payment schedules reducing error and time. With a payment schedule stored and readily accessible, all transactions and collection activities could be based on current payment position and balances while allowing for a variety of restructure and payoff scenarios. A second phase origination system allowed for document template storage with revisions and automatic generation of lease requests and on demand credit reporting
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