At most companies, the processes, systems, and controls for IT, fleet, and equipment leases have been neglected, with little investment in programs or people to manage these assets. As a result, many companies have highly inefficient equipment leasing programs that are creating an unnecessary performance drag on the organization.
The good news for companies facing this situation is that there may be an opportunity to realize seven-figure cost savings in the next 12 to 18 months. Case studies have demonstrated that by implementing best practices for Equipment Lease Management, Fortune 500 companies can realize savings of 16 to 18 percent of their equipment lease portfolio costs.
These savings are typically achieved using a combination of two strategies: Equipment Lease Management software and Leasing Centers of Excellence.