The National Equipment Finance Summit 2015, a three day educational and networking event hosted in Long Beach, California, concluded last week with discussions around cutting-edge financial technology and its application in the commercial equipment finance industry.
With over 240 equipment finance professionals, brokers, funders and service providers, this was a great opportunity to see the latest developments in equipment finance and the future trends to expect. There were some interesting discussions around alternative financing, electronic signatures and funding efficiencies that resonated well with the attendees.
What was most striking to us was the appetite for new technology. Lessors and dealers using old technology and manual processes are unable to adapt to changing market requirements and are looking for an end-to-end solution built on Salesforce. New technology is needed for them to grow revenue in today’s highly competitive market.
Cloud Lending Solutions offers a cloud-based innovative leasing solution built natively on Salesforce that gives equipment lessors the flexibility to configure the solution based on their unique needs. In addition, our loan origination application along with our lease servicing application enables them to make the entire leasing process more agile and affordable.
The event was also a great opportunity for the attendees to meet with leading service providers and funding sources in the industry. We interacted with a lot of equipment finance companies, lessors and brokers, and were excited to see the interest garnered by our solutions. Our only complaint for the entire event was that there was only one bar at the reception!
We came away with a very positive feeling from the NEFA summit, and feel that the equipment finance sector is looking for disruptive technologies for growth and profitability. Cloud Lending Solutions is excited to introduce its solutions to this industry, and we are looking to more conversations with leasing professionals at our next leasing event.