Turn arduous into effortless and unreliable into meticulous. Redundant and challenging tasks are expensive, inefficient, and prone to mistakes. Liventus can help you grow beyond your current capacity by building custom tools to automate your lease process.
Watch, Liventus Lease Automation, to learn more about how Liventus can help you automate your processes.
Four Major Phases of Lease Automation
There are four major phases to convert a lead into a completed deal. During each phase, there are multiple opportunities to let automation do the work faster and better than what you do today.
Phase 1: Application Processing
- Incident Report. Pull an applicant’s credit data from multiple external sources in seconds and deliver information in a concise, easy-to-read format.
- Background Check. Provide your sales and credit team with important information such as collections, bankruptcies, foreclosures, and more
- Bank Statement. Pull third-party verified bank statements and avoid fraud and/or losing customers because of excessive customer-related document requests and extended approval times.
- IRS Tax Return. Pull tax returns directly from the IRS, thereby avoiding the recent increase of fraudulent tax returns while also shortening the credit approval process and work for your customers.
- Credit Inquiries. Automate the real-time pull of important credit information such as credit, public records, asset reports, IRS documents, and bank statements from multiple internal and external sources in seconds.
- Discussion Board. All company transactional correspondence can be aggregated on each transaction’s discussion board, making the review of each deal simple and easy
Phase 2: Underwriting
- Funding Source Profile. Get instant insight into each vendor’s performance metrics including delinquency rate, default history, existing exposure, origination volume, average credit score, profitability and more
- Sales and Use Tax Compliance. Rules and tax rates can vary widely by state, county, zip code, specific addresses within a zip code special exemptions, and even occasional district changes, not to mention the type of asset.
- Real-Time Commission Calculation. In real-time, let the salespeople calculate their commission as they change any detail in a term set while negotiating with the customer
- Document Management. Too many documents? Automatically compile all the reports associated with a deal into a single and portable complete credit package
- Equipment Vendor & Asset Assessment. Lookup equipment comparable data by connecting automatically with 3rd parties such as www.truckpaper.com.
Phase 3: Integration
- Lease Booking. Liventus can help your organization automate and standardize a PDF application credit package for each new equipment financing transaction.
- Insurance Tracking. Track insurance expiration dates. Automatically send notifications to your lessees to help them keep their equipment in compliance with your lease requirements.
- Vehicle Title Tracking. At a glance, know with confidence that the vehicles you have leased or financed have been appropriately titled.
Phase 4: Post Booking
- Asset Recovery. Manage the asset’s inventory status, value, expenses, and pictures in one place to enable easy tracking.
- Sales Rep Performance. Track salesperson effectiveness. Look at the number of deals closed, originations, number of opportunities, revenue generated, delinquency rate, and deal quality.
- Vendor Profile Analysis. Review sales history, profit history, compare vendors to each other, the number of referrals from a vendor, rate of return, FICO score, etc.
Liventus Can Help with Your Leasing Automation
We love to code, integrate, and see our clients succeed. We’re not happy unless you’re successful using the tools that we deliver, and we don’t stop until you’re satisfied.
We build long term partnerships – we are here for you for the long term. Contact us to learn more about how leasing automation can push your business forward.