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asset finance ROI

Top Five Highlights From The 2024 ELFA National Funding Conference

Top Five Key Strategic Insights from the 2024 National ELFA Funding Conference: 1. Optimism in the Equipment Finance Industry especially in sectors such as small ticket/vendor, middle market and structured finance. 2. Strategic Growth and Innovation as strategic decisions to diversity portfolios into higher margin sectors emerge that take advantage of powerful state of the art technology. 2. Rise of Private Equity and Private Credit creating niches in Equipment Finance ecosystem. Combined with newly emerging financial backing with traditional bank lessors on large transactions, they will be a disruptive force driving industry change. 4. Captive Finance Companies Experience Shift as they actively seek additional sources of capital to sustain their growth as their manufacturers equipment prices continue to grow. 5. Evolution in Bank Equipment Finance Marketplace as they continue to evolve and focus on larger project finance opportunities such as Clean Energy, Railcar Financing and projects funded with depositor relationships.

2023 & Beyond: Digital Tech Trends In The Equipment Finance Industry

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.

Digital Agility & Operating Equipment Finance

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