With a new year upon us, it’s natural that we look back on 2015, set sky-high resolutions for 2016 and promise ourselves that we won’t be plagued by similar shortcomings this time around. But while taking stock of what was on a personal level, why not do the same with your lease and loan management solution? Better yet, why stop at what was and also consider what could be?

Performing a system review not only brings one of the most important pieces of technology in your business front and center, but it also allows you to analyze and identify any operational strengths and weaknesses your current system may have. Essentially, it’s a routine checkup of the overall health of your system.

Working alongside your software vendor, you’ll learn about any areas where your solution may be misaligned with your business objectives because of process changes, growth strategies or employee turnover; any new or available functionality that can improve or help realign your solution;  and, ultimately, if you are maximizing your investment in your solution.

When all is said and done, your system review should provide you with some of the following recommendations:

  • An updated system configuration – like your business, your solution is constantly in a state of change, making it essential to understand what your software offers and utilizing it to the fullest. This exercise will leave you with a system configured to meet the direction your business is headed, not where it’s been.
  • Additional education for users – new things are full of mystery, which can sometimes lead to them not being utilized right away. When it comes time to unleash any new features or functionality in your solution to those who are using it the most, having a comprehensive arsenal of training opportunities and materials can help provide users with the knowledge and understanding needed to adjust and adapt quickly.
  • Management reports. It’s worth saying again: new things are full of mystery. Keeping management and all key stakeholders fully informed of the results of your system review ensures everyone is aware of not only what was learned, but also what will be changed or implemented.

So, as you move into 2016 full of self-reflection and ideas for improvement, remember to do the same for your system, because it could be the difference in the start of your next year.

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