Equipment leasing funder to owner based businesses primarily in the agricultural sector.
Client Location, Areas Served
Central Canada serving primarily central, western provinces.
Mix of manual, Word document templates and Excel spreadsheets to store record lease inventory and consolidate lease payment schedules and calculations
Problems to Resolve
Although the “home-grown” system was intelligently organized and structured for minimizing error and re-entry, the client understood that it would become unmanageable under the current and rapid growth rate.The high priority issues to resolve included:
✓ Being ahead of the curve and become proactive instead of reactive for key lease dates
✓ Achieve both time and efficiency gains through payment tracking and posting automation
✓ Obtain consolidated and detailed portfolio management information
✓ Streamline data entry from reapplication of repeat business data
✓ Obtain collection and delinquency visibility
Stated Business Needs
✓ Track and manage in-house versus securitized leases
✓ Streamline overall lease administration operations
✓ Have ability to provide custom lease configurations
✓ Obtain real-time cash results and projections for customer payment cash inflows and securitized party outflows
✓ Gain back valuable time from mundane data entry tasks to spend on more beneficial management/sales tasks
Ryznware™ Implementation Results and Benefits
Kicking off from an already solid structure having fairly accurate lease details, the client’s current business model was adhered to by providing a multitude of leasing software configurations to satisfy their customer finance needs. In addition, a securitization module significantly reduced portfolio sale preparation by automating individual lease discount calculations and consolidating dates and values. Both in house and securitized leases could be managed, tracked and serviced effectively with real-time data access. A customized and seamlessly automated Pre-Authorized Payment integration with their current bank provider drastically cut payment posting and reconciliation effort.
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