Equipment leasing, when managed effectively, can offer a number of strategic financial and competitive benefits to your business. Leasing enables better use of cash flow and offers more budget flexibility. Additionally, leasing can provide a competitive advantage through faster refresh of technology. Arming your employees with the latest IT, material handling or manufacturing technologies can provide a productivity boost.
But the equipment lease lifecycle is inherently challenging to manage. That’s why companies choose lease lifecycle automation platforms to manage the process from end-to-end. The right software platform takes out the cost and risk of staying compliant so you can focus on the cash flow benefits of leasing.
For over a decade, LeaseAccelerator has helped some of the world’s largest companies get the most out of highly-decentralized, complex leasing programs. During our engagements we have identified a set of 15 critical success factors that best-in-class companies use to manage their equipment leasing program. Some of these critical factors start before the lease is even executed during the sourcing and contracting phase, while others relate to the end-of-term such as lessor notification and reverse logistics. In the pages that follow we will share our recommendations on best practices and critical success factors.