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The U.S. Digital Revolution Today: Understanding the Challenges and Opportunities in Leasing Industry

Explore the impact of the digital revolution on the leasing industry, including evolving internet models, funding issues, successful applications of internet technology, and the future of e-leasing.

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The U.S. Digital Revolution Today: Understanding the Challenges and Opportunities in Leasing Industry

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  1. Presentation for the World Leasing Convention May, 2001 Jointly presented by Susan Carol and Cameron Krueger

  2. THE U.S. DIGITAL REVOLUTION TODAY • Evolving Internet models & VC spending • Poor communication, failure to understand leasing • What do application service providers & B2Bexchanges offer? • Does end-to-end leasing really matter? 2

  3. INTERNET SPEED SLOWING DOWN • Funding issues, stock market retraction • DotCom challenges & failures • Problems affecting lessors • Internet revenue only at 10% in early 2000 • Disconnect of online, offline operations • Neglect of core capabilities • Focus on deal volume, rather than customer • Adoption rates low 3

  4. THE “NEW”, NEW ECONOMY • What makes a successful digital business? • How long does it take? • What are the characteristics of successful e-leasing ventures? • What is the focus of the new, new economy? 4

  5. THE INTERNET EXPERIENCE — REVEALED IN LEASING INDUSTRY-FUNDED SURVEY • KPMG • Inc. Magazine • Monitor 5

  6. SUCCESSFUL APPLICATIONS OFINTERNET TECHNOLOGY • Case study perspective • Case studies • Large ticket leveraged leasing corporation • Pure technology company • Small, mid-and small-ticket broker shop 6

  7. CASE STUDY #1LARGE TICKET LEVERAGED LEASING CORP. • Situation • Legacy system & failure to move to “modern platforms” • Highly profitable – no urgency to improveoperationally • Problem • Management reports virtually impossible to create • Current reports costly & inaccurate • Needed marketing push into new markets • Solution • Involved Internet & Intranet projects to improve customer relations, increase efficiency, & decrease costs 7

  8. CASE STUDY #2PURE TECHNOLOGY COMPANY • Situation • Cost savings critical, but systems not up to task • Problem • Sub-optimal management of returned equipment • Inability to generate buyout quotes in Internet time nor data-mine for sales • Could only accept applications via fax • Solution • Custom built web/application tracking software • Integration to core lease accounting system • Online buyout quotes for some VAR’s 8

  9. CASE STUDY #3SMALL, MID- & SMALL-TICKET BROKER SHOP • Situation • Human resources starved • IT resources starved • Problem • Wasted time re-entering faxed documents • Data accuracy abominable • Only competitive advantage was rate • Solution • Off-the-shelf Web application entry • Web application status query • Fully automated e-mail based vendor & broker communications 9

  10. FUTURE OF E-LEASING • Serious challenges • How lessors will manage them • Wireless is HOT • E-signatures are here • Does end-to-end leasing really matter? 10

  11. APPLICATION TYPES THAT WILL WORK • Intranet • Executive Information Systems • Data mart/report consolidation • Focused specific needs • ASP – They host it, you work it. • Non-core competencies • Customer service & asset management • Non-proprietary technologies 11

  12. APPLICATION TYPES THAT DO NOT WORK • Application only – we have a lot of this today • Web “presence” – five years out of date • Outsourcing core business functions • Anything technically challenging • If-you-build-it-they-will-come applications 12

  13. THE BOTTOM LINE • Clear communication is critical, regardless of strategy • Timely flow of information internally & externally is critical to survive • Efficiency, speed & convenience will drive e-commerce • Online leasing will expand because the Web offers the above • Customer service online and offline must reflect same culture 13

  14. TOP 10 INTERNET RECOMMENDATIONS • Having a Web site is not enough to become a global operator • Choose your technology partners well • Determine SLA & exit strategy early • Balance business & technology goals • Get an internal champion & rally the end users • Budget for post implementation/go-live support • Fully-integrated is best, but best-of-breed is reality • Check customer references well • Insist that you own the data • Don’t forget security – hire a hacker 14

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