Washington, D.C. – In order to compete in today’s rapidly changing world, equipment finance firms are innovating their business processes and recognizing the value of investing in technology upgrades, according to the
2017 Software Guide released today by the Equipment Leasing and Finance Association. The 2017 Software Guide highlights the leading software solutions for the industry and outlines some key technology trends for equipment finance companies in 2017, adapted from the association’s Business Technology Performance Index.
Trends highlighted in the 2017 Software Guide include:
- Replacement of front- and back-end systems remains a top initiative for equipment finance
- Other key initiatives being undertaken by equipment finance companies include business intelligence improvements, electronic signature solutions and better integration with various systems.
- Ramping up mobile capabilities is a priority area that equipment finance companies hope to focus on.
- Customer demands are increasing, including requests for online execution of documents and online payment capabilities.
The Software Guide also includes a Quick Quiz: How do you know when it’s time to upgrade your IT systems?
Visit the ELFA website to access the full 2017 ELFA Software Guide:
Learn more about technology and the equipment finance industry at the 2017 ELFA Operations & Technology Conference, Sept. 11-13 at the Westin Charlotte in Charlotte, North Carolina. See details at
www.elfaonline.org/events/2017/OT.
About ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 580 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org.