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Equipment Lease and Loan Finance Software Platform

Digital Transaction Management and the Equipment Finance Industry

Has digital transaction management hit your radar yet?

I must warn you there is a right and a wrong answer. For those of you who said, “Yes”, move ahead two spaces; you are now closer to offering a more efficient and competitive customer experience. For the rest of you, read on.

Digital transaction management isn’t new technology. In fact, it’s been around for over 20 years, and even though digital transaction management has been widely accepted by other industries, historically, the equipment finance industry has been slow to adopt this technology. (Hint: This is where you should see a window of opportunity for your business.) Things are beginning to change however. Equipment lease and finance companies are beginning to see digital transaction management delivers a promise of improved efficiencies, a better customer experience and a reduction in transaction costs.

The companies that have embraced this technology are also enjoying:

  • Shortened sales cycles
  • Increase in repeat business
  • Ability to identify operational “choke points”
  • Visibility into both customer facing documentation and operational processes
  • An electronic audit trail

Because I don’t want my blog to turn into a white paper, I won’t drill down into the benefits any farther. Suffice to say though, the benefits are so numerous that it won’t be long before your window of opportunity turns into a customer expectation.

That makes the time to act is now. Please feel free to contact us if you’d like more information on how using digital transaction management as part of your lease and loan management system can help your business.