The leasing industry is growing faster than ever, driven by new digital business models and shifting financial regulations. For equipment lessors, legacy information systems have become a major hindrance to progress. 60 percent of lessors believe that their technology does not meet their present or future needs.
The high cost of maintaining existing leasing platforms and managing heterogeneous systems
Multiple systems of record
Lack of visibility into equipment on lease caused by disparate systems
Complicated application-to-application integration
Astute leasing companies can launch themselves into the future by deploying a comprehensive online leasing solution. Cloud Lending Solutions enables several strategies, depending on your current infrastructure and business practices. You can leverage an existing front-end platform by integrating it with CL Lease™ to manage back-end servicing activities. Or you can retain your back-end but leverage a new front-end platform for quick and efficient lease origination. Finally, you could even replace your entire leasing solution with CL Lease's integrated offering for cloud-based origination, servicing and collections.
Equipment leasing is a very popular form of financing assets as it allows businesses to pay for equipment from their earnings. However, to address the needs of lessees in different industries such as agriculture, restaurants, mining and more, deal structures must be configured to meet their individual needs.
The CLS solution enables lessors to finance multiple equipments in a single lease contract while structuring payments to meet the lessees' cash flow needs. With efficient and automated processing, contract modifications can automatically generate adjustments. Tracking assets due for return or release is the key driver of profitability.
Vehicle leasing is for motorcycles, automobiles and trucks. Lessors need the ability to quickly generate lease pricing and credit approvals across multiple dealerships. Special promotions may be available for moving certain models off the lot.
The CLS solution provides lessors the ability to automate credit decisioning, generate contract documents and obtain electronic signatures quickly and easily. Lessors can manage special promotions by tracking manufacturer or vendor subsidies. Streamlined processing reduces manual intervention. Key functions such as automating early termination quotes, tracking insurance coverage and equipment returns are efficiently provided.
Many vehicles or equipments are provided by manufacturers or dealers as rentals or operating leases as the asset life may be much longer than the typical usage period. Rentals often have quick payment frequencies and may include maintenance contracts.
The CLS solution provides captive lessors the ability to set up rentals with weekly, bi-weekly or semi-monthly payment options. Billing and amortization of maintenance charges can be managed on the same contract. Accurate and configurable accounting enables captives to simply address their unique needs.
Lessors can modernize their processes with CL Lease, the next-generation of leasing technology. CL Lease is a cloud-based lease servicing application that enables lessors to efficiently manage equipment leases, from origination to end of life. It’s never been easier to manage the entire leasing cycle, instantly configure new products and get to market faster. CL Lease provides a 360 degree view of your customer, and easily tracks an extended organization of collection agents and dealers. CL Lease can either be integrated with an existing origination platform or combined with CL Originate™, Cloud Lending Solutions’ origination and underwriting platform. Lessors can also integrate CL Lease with CL Collections™ to automate collection processes.
“Cloud Lending Solutions allows us to automate the entire leasing process, on a single system, from evaluating financial applications through servicing, collections and asset disposal. Leveraging the salesforce.com platform allows us to lower our operating costs, speed time to market and maintain strong relationships with our customers as we improve their overall experience.”
“Neyber’s mission is to create workplace communities that enable employees to borrow and save together at fairer rates. We set out to reduce the indebtedness of the UK workforce, and in turn, to increase staff engagement and productivity. In combination with our own proprietary technology, Cloud Lending Solutions’ platform will support the growth of our business and enable it to fulfil this mission.”
“Harmoney is not a bank or a finance company. Harmoney is a technology enabled financial marketplace that needed a robust receivables platform that was flexible, cost efficient and quick to implement. Cloud Lending allowed us to break away from legacy systems and reduce our time to market to a fraction of other alternatives.”
CEO and Founder, Harmoney
“With Cloud Lending Solutions we reduced an anticipated 6 to 12 month development cycle to less than 3 months. This dramatically changed our go-to-market strategy and helped us connect with consumers more quickly. Cloud Lending was the only end-to-end solution built natively on Salesforce – a strict requirement in our platform architecture. Throughout our partnership, Cloud Lending has been attentive to our needs, which has made it possible for us to deliver a reliable and secure cloud-based alternative to bank lending in less than 90 days.”
Cloud-Based Lease Servicing To Empower Equipment And Vehicle Lessors...
Next Generation Application For Loan Origination And Underwriting...
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