Test: Is your leasing solution future-proof?

1. Does your leasing solution include flexible offer management?

Can you adapt your leasing offers for different situations, such as shorter leasing periods, to meet customer needs?

YES        NO

2. Does it have flexible payment options?

Can you provide different payment plans and/or frequency for specific customers, depending on their conditions?

YES        NO

3. Is it GDPR compliant?

Do your processes follow the general European regulations for data protection, ensuring every customer’s personal information is handled accordingly?

YES        NO

4. Does it support additional services around the products you’re leasing?

Can your leasing offer be delivered as a complete package beyond your product, including, for example, insurance and service management?

YES        NO

5. Can you offer discounts?

Does your system support the option to give discounts to different customers, either straight from the manufacturer or through your sales representatives?

YES        NO

6. Does it enable secure documentation management?

Can your system handle all essential documentation throughout the lease agreement – from terms and conditions to payment plans, insurance, and legal policies?

YES        NO

7. Does it include role-based access control?

Does the system support different authorization and access for your users to help them follow the lease process, get a good overview and execute their tasks accordingly? 

YES        NO

8. Does it include multinational support?

Can you easily manage variations between different countries or industries to meet national rules and regulations regarding, e.g., VAT, accounting, or legal requirements?

YES        NO

9. Is it easy to integrate?

Is your leasing solution constructed to be easily integrated with critical supporting systems such as customer databases, credit rating, invoicing, and document management? 

YES        NO

10. Can you build your own reports?

Does the system include easy reporting functionality, where users can share information about clients and equipment to improve leasing processes and increase sales?

YES        NO

11. Is it mobile-friendly?

Does the system have a simple and intuitive interface that works as well on the field sales team’s mobile phones as on office computer desktops? 

YES        NO

12. Can you scale smoothly?

Does your leasing solution have the flexibility and capacity required to meet a possible increased flow of customers and data in the future?

YES        NO

13. Is it built on a proven technical platform?

Can you rely on the foundation for your leasing system and trust that the platform is securely managed and will continue to be developed for several years?

YES        NO

14. Can you choose between cloud and on-prem?

Does your leasing solution have the opportunity to be managed in the cloud as well as on-premise, depending on your needs?

YES        NO

15. Is the code secure?

Is your system thoroughly tested and verified to withstand cyber-attacks – and are developers working in the system also trained to know this?

YES        NO

Results

0-6 YES

It seems like your leasing solution is quite outdated and could need some ground changes to meet future demands and regulations. You need to ensure that you have a safe and secure platform with basic functionality, but the solution also needs to be flexible and allow you to adapt offers and integrate with other systems. Start by defining which areas you might already be struggling with today – both in your organization and with your customers – and evaluate what you need to be doing differently tomorrow. Also, to help get started with your transformational journey, a partner specializing in leasing systems and the financial industry is an invaluable resource for your company.

7-11 YES

It looks like you are on the right path toward securing your leasing solution for the future! But there might still be some challenges along the way to implementing all necessary functionality that a future solution needs. To help with technical details in your current system or develop solutions for specific add-ons or integrations, you could benefit from partnering up with a supplier with particular IT expertise and experience from similar projects. They can also give you a deeper understanding of how to develop your system in new and innovative ways.

12-15 YES

Congratulations – you seem to be fully updated on the latest functionality and trends that are required for a future-proof leasing solution. The most important thing for financial companies who want to stay at the forefront and keep developing a modern and competitive leasing solution is to have a dedicated partner throughout the journey. Having experts working closely with you can provide a valuable outside perspective on your business and its challenges, while dedicated IT experts can fine-tune details you might not even have thought of. 

Applicon has IT experts specialized in developing leasing systems and the business insights needed to help you build a future-proof leasing solution. Please don’t hesitate to get in touch with us for more information.