ELFA Releases Software Guide

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.

The 2017 Software Guide was released this week.

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?