Information Technology has improved the leasing process, parts at a time. Every company has evolved some manner of maintaining customer information. Accounting software has kept the back-end humming. The sales force has devised methods for maintaining customers and then bridging them with funding sources. The vendor is contacted when an order needs filling. Further down the chain, the collections process is managed independently. And, the savvy leasing business has found ways of retaining customers to keep the process alive.

Limitations of the traditional Lease Management Software
But the permeation of technology has been sporadic, at best. Thus far, the existent lease management software have spot lighted sections of the leasing process, affecting each uniquely, independently and in isolation from the whole lease operation. This has forced companies to tie together the disparate sections of the lease process manually, without using any lease management software. Inevitably, intervening to help one part of the business communicate with another without a technical platform such as lease management software to collaborate both parts creates inefficiencies. While financial data would help the sales-force negotiate with repeat customers, the sales-force may not be privy to the relevant information easily devoid of innovative leasing software. The lessee may be offered an online lease application, but a potential funding source is not intimated of the new request until much later. Unfortunately, the disjointed nature of traditional technology necessitates physical intervention almost every time one link of the lease chain needs to be connected with another.

Improving productivity through consolidated lease management
Here's where concepts like Customer Relationship Management (CRM) and Supply Chain Management, so successfully used in manufacturing and telecommunications, become relevant to lease management. Today, Internet-driven technology such as the lease management software can consolidate the entire leasing process, beyond simply improving its various sections in isolation. Productivity-wise, this consolidation will do to the leasing business what the assembly line did to automobile manufacturing. And, if implemented wisely, the cost of this technology is quickly covered many times over by the resulting synergy - and the quantifiable savings -- that it brings to the leasing enterprise, regardless of its size.

Managing leasing relationships through the Lease Management software

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