Leasing finance automation uses sensors to detect assets usage and bill customers based on the usage. The asset usage lease or loan contract can be monitored from origination to end of life on a single, secure platform. All parties, including customers, vendors, and intermediaries, can be provided with access to the information they require to fulfill contracts or make decisions. In addition to automating information transfers and billing processes, other processes such as asset management, document collection, and underwriting can be managed in a paperless and transparent environment, resulting in lower operating costs and higher deal volume. Leasing finance automation is usually embedded within a larger asset leasing software product consisting of contract management, reporting, and application management.
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