Financing Solutions for a Changing World - Lien Solutions

Financing Solutions for a Changing World

There are two key areas of equipment leasing and finance that are most susceptible to change and pose the greatest challenges to companies in the industry: risk mitigation and workflow optimization. To successfully meet the challenges and changes ahead, equipment leasing and finance companies must figure out a way to protect their assets in case of customer financial difficulty and to ensure their operations are flexible, efficient and adaptable to evolving market conditions.

The recent Equipment Leasing and Finance Association (ELFA) convention explored change as one its major themes. If you attended the show, you quickly learned that “business as usual” is no longer the road to success for companies in the equipment leasing industry. In the future, only those companies willing to embrace new ways of financing and engaging with customers will be able to adapt to new business environments.

There are two key areas of equipment leasing and finance that are most susceptible to change and pose the greatest challenges to companies in the industry: risk mitigation and workflow optimization. To successfully meet the challenges and changes ahead, equipment leasing and finance companies must figure out a way to protect their assets in case of customer financial difficulty and to ensure their operations are flexible, efficient and adaptable to evolving market conditions.

Thorough and proper due diligence is the key to effective risk mitigation. Web-based, automated solutions can improve due diligence accuracies, such as Uniform Commercial Code (UCC) name searches and validations. With an automated solution, equipment leasing companies can search for and confirm vital customer information beforehand, helping them make better decisions and more effectively protect their assets down the line.

Flexible, automated workflow solutions can improve UCC search efficiency and help optimize time and resources. With a well-designed workflow optimization system in place, equipment leasing and financing companies experience reduced filing times and increased productivity. As a result, they can make better use of the time once spent on routine, labor-intensive tasks.

CT Lien Solutions attended the 2016 ELFA convention, where it showed many equipment leasing and finance companies an innovative way to meet change head-on. The company has more than 30 years’ experience helping companies become more flexible and via automated lien management, risk mitigation, and workflow optimization.

CT Lien Solutions offers a wide range of solutions designed to put you ahead of the curve and ready to adapt to the changing marketplace. Our solutions can help you solve the challenges of risk mitigation and ensure your workflow is nimble and efficient.

If you are interested in learning more, please contact our industry experts at 800-833-. Be sure to ask them about filing integration between CT Lien Solutions and your loan operating system (LOS) as well as how our searches-to-reflect (STR) with wild-card logic can help your due diligence efforts during fast-lending cycles.