Operational efficiency is key to equipment finance lenders. Finance organizations of all sizes are striving to streamline their operations, mitigate risk, and have the flexibility to expand their offering quickly and easily.
Yet, many lenders are still using legacy equipment leasing management software, which may require substantial investment in training costs, building new capabilities to address important trends, implementing software upgrades, fixing performance issues, and continuous maintenance. In the long run, legacy, hard-to-scale technology limits your business growth and prevents you from capitalizing on emerging opportunities quickly. With the equipment finance industry being fast-paced and constantly evolving, keeping up with changing factors such as regulatory compliance, security, and new trends is a challenge.
Solifi Open Finance Platform technology can address the challenges that come with a legacy equipment finance system while supporting operational efficiency for your business.
Shift from managing your software to managing your business
Software-as-a-Service (SaaS) offers businesses cloud-hosted technology on a pay-per-use basis. Your solutions are available over the internet and are maintained and updated by the vendor, with no need for installations or IT knowledge, so getting started is simple. Once you have access, your SaaS solution can be scaled rapidly, enabling you to grow with your business and pivot to changing needs.
SaaS services have the additional benefit of evergreen IT, ensuring your solution is always up-to-date with the latest features. Many experts consider SaaS solutions more secure than on-premise systems, as regular security updates and monitoring are part of the package. Learn more about evergreen IT and how SaaS can manage risk in our blog.
Overall, SaaS solutions such as Solifi Open Finance Platform are a great option for businesses that require sophisticated software but do not want the hassle and costs of managing an on-premise system.
One platform to rule them all
With our Platform technology, we enable your most valued team members to focus on their day-to-day tasks faster and more efficiently so that they can capitalize on value-adding activities. Customer feedback is much easier to take on board, with the ability to efficiently implement the features you need in a short timeframe and deliver a positive customer journey. Solifi Open Finance Platform offers end-to-end solutions enabling you to streamline your workflows from quotations and credit assessment through to asset management and reporting. You have the flexibility to expand your business, adapt to changing markets, and even start your journey into new lines of business all in one place.
Every business has different processes, systems, and partners that create their own unique ecosystem. With our platform, you can easily orchestrate yours through integrations with your 3rd party systems, utilizing standard APIs and microservices. Our trusted secured finance technology can also support you across different markets and countries, with multi-currency, language, and accounting options as standard.
How Solifi Open Finance Platform can support your equipment finance business
We get it – change can be scary, and it can also be costly. Solifi Open Finance Platform and technology delivers best-in-class functionality faster, cheaper, and with more flexibility, so you can transition with little disruption and put an end to the costly and complex upgrades of legacy systems
Whether you are a smaller start-up or a multinational lender, consolidating your equipment finance operations onto one platform can give your business the support it needs to grow. By utilizing a platform approach, you can be more agile, innovative, and efficient.
Interested in finding out more? Get in touch with our expert team to start your journey.
