Equipment Finance Advisor Featured Article: Critical First Step in Technology Investment is Often Missed
Omaha, NE – August 10, 2023 Despite clear signals of a softening economy, equipment leasing and finance companies are continuing to invest in technology. They
Omaha, NE – August 01, 2023 Veracode Verified accreditation demonstrates commitment to developing secure software and reducing risk for customers LTi Technology Solutions, a leading
What is Digital Transformation and why does it matter? Digital transformation is the customer-centric reimagination of the future of digital technology into all areas of business. The transformation has brought many benefits to the equipment finance industry and has created a shift in the prevailing thinking and culture regarding adopting technology.
In the new reality of the post- COVID-19 economy, digital transformation has gone from a priority to absolutely critical for companies. Prior to COVID-19, companies took time with a slow and steady approach. However, the lessons learned by the disruption caused by the pandemic, has replaced the slow approach with need to accelerate digital transformation. It is now an imperative that companies begin driving a digital culture into their organization.
The key trends in equipment finance technology to look for in 2023 and beyond to look for:
Automation: Streamlining processes and providing faster, more accurate decision-making.
Digital Platforms: Transforming interactions with customers by enabling customers to apply for financing, manage accounts and access information and services online.
Internet of Things (IoT): Providing data on performance and usage to improve maintenance schedules, predict equipment replacement timeframes, and identify opportunities for cost savings.
Block-Chain Tech: Providing greater transparency and security enabling companies to create secure records of equipment ownership and transactions, reducing risk for fraud and errors.
There are many benefits to adopting a framework that elevates digital agility and brings your equipment finance business into the digital age:
Empower Self Service with direct customer access of contract details, secure payments and quick communication
Quick Access to FAQ’s reduces Customer Service Inquiries and improves Customer Satisfaction
Improve Productivity by refocusing your workforce on revenue-generating tasks
Without fully understanding who is responsible for what when it comes to Disaster Recovery, there could be a bigger disaster looming
Randy Haug, Executive Vice President, Vice Chairman, and Co-Founder of LTi recently spoke about how the equipment finance industry has been dealing with the pandemic, the highs, and lows of 2020, and the future of equipment finance for 2021.
(Originally published in the Leasing Life)
Last year was an historic year for UK’s financial marketplace at large. The pandemic’s economic and social impact was felt acutely by small businesses, which led to many losses and severe business interruptions.
(Originally published in World Leasing Review)
Asset Finance • Auto Finance • Digitalisation • Leasing Legal • Software
(Originally published in the World Leasing Yearbook)
“Customer journey” is a term that dominates the landscape of asset finance – and for good reason.
(Originally published in Canadian Equipment Finance magazine)
A cautious approach to technology is understandable. Just make sure you are not waiting too long.
(Originally published in the Canadian Equipment Finance magazine Summer 2019 issue.)
Going green is becoming a directive more than a movement, especially here in Canada. The Canada’s Changing Climate Report (CCCR), released April 2, 2019 by Environment and Climate Change Canada, states that we are experiencing overall warming at twice the global average.
- Will Your Business Fall Victim to Digital Darwinism? | January 2015
- Improving the Customer Experience | March 2015
- Shadow Databases | April 2015
- Industry Challenges | July 2015
- Technology Roundtable | August 2015
- Marketing and the Equipment Finance Industry | January 2014
- Keeping Up with Technology | May 2014
- Disrupting Technology in the Equipment Finance Industry | December 2014
- Facing Lease Management Systems Migrations Without Fear | March 2013
- Growing Your Business Through Technology | May 2013
- Using Your Lease Management System as a Competitive Advantage | June 2013
- Technology’s Evolving Role in the Equipment Finance Industry | September 2013
- A Starter Guide to System Compliance under the New Lease Accounting Rules | April 2011
- Adding Mobile Technology To Your Business – Not If, When! | June 2011
- The Secret to Optimizing Your Software Solutions | July 2011
- Effectively Using Social Media Part I | October 2011
- Effectively Using Social Media Part II | November 2011
- The Solution Provider of Choice in the Equipment Leasing and Finance Industry | November 2011