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Vehicle Leasing Focus

Mar 2016 by Joelle Ascher in Blog

Vehicle Leasing Focus

A southern Ontario lessor of consumer vehicles selects Ryznware™ leasing automotive solution to resolve all of their current system issues.

Working from a mix of different software tools that include Quickbooks®, Microsoft® Excel and Word to manage their current and growing portfolio of vehicle leases, this private lessor recognized that future growth would not be sustainable with this “home-grown” manual and semi-automated system.  

Furthermore, it was impossible to obtain any comprehensive analysis of portfolio performance or metrics from the combination of accounting ledger, spreadsheets and document templates.  Time and resources were being wasted due to the re-entry of data from one system to another in order to record the initial vehicle lease details and generate origination leasing documents for both the dealership and customer.  Customer billing and the posting of cash receipts are all manual, repetitive and time consuming tasks that needed to be streamlined.

With the Ryznware™ leasing automotive solution all the above issues become resolved with the added benefit of paving the way for future growth due to the Microsoft® SQL Server database engine and a software design that builds in flexibility for business changes.

Starting with origination stage, all tasks are automated from with the initial capture of the dealership application through to the tracking and final execution of both the dealer and customer agreement documents.

The accepted and approved lease then moves through funding and its life cycle that includes options for amendments and early termination as well as increased automation of pre-authorized payment (PAP) integration with the lessor’s bank.  

In addition, lease portfolio reporting and other customer service related activities like handling on-demand requests for payment history, payoff quotes and PAP delay and/or change requests are available in real-time and easily completed

Initially the lessor opted for Ryzn’s private cloud hosted server option, but then opted for the purchase of their own in-house server which in the longer term would be more economical.

Whether to host or not to host a solution is always a balance between convenience,  budget and whether a company has the available resources to manage a server – there is no right or wrong option but only one best suited to your needs.

Ryznware™ leasing for automotive solution combined with Ryzn’s consulting and business expertise has already laid the foundation to providing this lessor with improvements all around for many years to come.

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