GREAT FALLS, Va. /eNewsChannels/ — Ecologic Leasing Services announced today that it has released version 7.0 of LeaseAccelerator®, web-based software service (SaaS) designed for corporate and non-profit lessees and vendor captives that lease equipment around the globe.
“This release adds several unique capabilities to our software services that are valuable to lessees and vendor captives,” said Michael Keeler, CEO. “We have expanded our lease accounting capabilities for lessees so they can now generate debits and credits for capital leases down to the transaction level. This positions us to support the coming IFRS lease accounting changes quickly and easily, which has been a consistent request of our Fortune 500 clients.”
Keeler added, “For our vendor captive lessor clients, we have added a mail-back capability for automatic generation of indicative financing quotes (Term Sheets) based on an XML Price Quote sent to a dedicated e-mail address within LeaseAccelerator. These indicative Term Sheets are typically returned to the requestor via e-mail within 15 minutes of the original request. This enables the manufacturer’s sales force to generate a financing quote with every cash quote automatically, increasing lease penetration, new sales, and volume.”
Jonathan Crawford, Ecologic’s VP of Engineering, stated, “With 7.0, Ecologic introduces the concept of ‘Build-Your-Own Reporting’ (BYOR). Our approach to self-service report construction advances the state of the art by allowing users to design their own reusable reports, from criteria selection to content selection, including sort ordering and the ability to include a pivot table (aka ‘crosstab’) in user-designed reports. No other web-based equipment leasing software service sold today has this capability. This gives both lessees and vendor captives the ability to analyze and share their data and discover new ways to improve their financial performance.”
Ecologic’s software supports multiple funding models for vendor captives to make it easier for them to offer leasing wherever they operate around the world, including retail and private-label wholesale models, which involve third-party funders, and self-funded and hybrid models.
The Company highlighted several other unique features for vendor captives now available in version 7.0:
* LeaseAccelerator’s new credit workflow enhancements include support for credit requests that are specific to a single transaction as well as ad hoc requests for lessee credit. The improved credit approval process includes capture and tracking of requirements for recourse, parent guaranty, and other forms of credit support. Credit line management has been enhanced, with the ability to monitor and report on both credit utilization and funder performance.
* Ecologic has significantly improved the automated generation of contract documents. Dynamic template selection is now supported for all customer-facing documents, providing automatic selection of the appropriate contract documents based on a combination of lease type, language, country, funder and lessee.
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About Ecologic Leasing Services:
Ecologic offers software services and outsourcing services to lessees and vendor captives that need to finance equipment competitively around the world. The Company currently supports lease transactions in 44 countries. Large corporate and non-profit lessees deploy Ecologic’s software and outsourcing services to save 10-25 percent on their equipment lease portfolio annually. Vendor captives employ Ecologic’s services to help them finance the sale of their equipment to their customers at the point-of-sale using the best available funding sources where ever they operate around the world. Founded in 2000, the Company is headquartered in Northern Virginia, with offices in Montreal, San Francisco, and Mumbai.
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