As your business grows, it can become far too easy to fall into the trap of working across multiple systems. You may find yourself overcomplicating your processes as you bolt on additional functionality to solutions that are not scalable and poorly integrated. To add to the challenge, you may be introducing manual, error-prone steps in your processes, which result in inefficiencies, additional costs, and unreliable reporting.
The solution to these challenges? A complete end-to-end (E2E) solution.
With an E2E solution, you will be provided with comprehensive functionality and automation in a single system.
So, what are the key benefits of using an E2E solution?
Full visibility
At its most basic level, a fully integrated E2E solution gives you 360-degree visibility of your portfolio at every stage. Digitalization is a key focus for equipment finance organizations looking for ways to streamline processes, ensure compliance, and manage data without the need for filing cabinets and paper documents. The COVID-19 pandemic kickstarted a need for a better way to manage portfolios from anywhere in a way that is affordable and easy to use. Centralizing your data on a singular E2E platform should be a top priority for growth strategy, as multiple systems expose your business to greater chances of mistakes, data gaps, and challenges with reconciliation
With an E2E solution, you have a complete view of your equipment finance business. For your staff, this also means only having to learn how to use one solution, which can save your business a lot of time and training costs.
Higher efficiency
Legacy manual processes are becoming a thing of the past. A fully configurable and automated workflow from Quotation all the way through to Contract Activation has a wide range of benefits, such as faster processing, better control at every stage, elimination of human error and manual intervention, and improved volume using the same or even reduced resources.
Using a software solution that can automatically transfer completed contracts into the Contract Servicing system means that you can be assured that the correct source information is used as the basis for all calculations, billing, collections, and accounting without any manual intervention or re-keying.
And, as manual configuration synchronization across multiple systems is removed, time to market, resource requirements, and the risk of misalignment between Originations and Contract Servicing are all reduced. By implementing an E2E solution, you can focus on value-added activities and take convoluted admin processes off the to-do list.
Multi-country and multi-product expansion
Another benefit of using an E2E solution from a trusted, secured finance technology provider like Solifi is the ability to work across multiple countries. Multi-currency and multi-language functionalities allow you to expand globally, no matter how wide your range of assets and product line, opening up new opportunities for growth that you may otherwise not have had. Furthermore, it’s simple to add new product types or customer segments, meaning it’s easier than ever to meet the changing needs of your business. Solifi’s equipment finance solutions also offer multi-GAAP (generally accepted accounting practices), multi-asset and multi-channel functionality, meaning you can continue to grow your business without any limitations.
Learn more about Solifi’s E2E equipment finance solutions and start your growth journey today.
