Cloud Lending Solutions, a provider of cloud-based leasing software, announced major advancements to CL Lease, its end-to-end leasing solution.

In partnership with its leasing clients, Cloud Lending Solutions designed a highly-focused leasing features set resulting in the culmination of more than 45 named major product advancements and hundreds of smaller updates for the global leasing industry. A short list of advancements include:

• Criteria Based Scorecards – Scorecard evaluations consisting of multiple parties with different legal entity types. Lessors will be able to assign different scorecards to different legal entity type values and evaluate different scorecards for business versus individuals. Scorecard evaluations consisting of multiple parties with different collateral types. In this scenario, financial institutions will be able to assign different scorecards to different collateral type values.
• Financial Statement Analysis – Enable lessors to be able to spread financials and store electronically, this includes balance sheets, income statements, and cash flow statements, as well as configure calculations and financial ratios to support financial analysis. CL Lease will enable financial institutions to customize financial statements with custom fields and generate financial statement information, such as cash flow, from configurable statement calculations and allow users to input, generate and analyze financial statements spanning multiple reporting periods.
• Multi Company, Multi Currency – Support for being able to manage multiple companies in the same CL Lease implementation. Highly useful for companies operating in multiple countries or jurisdictions, CL Lease can support local regional specifications and manage leases across geographical country lines.
• Credit Exposure Support – Enhanced to enable lessors to calculate direct exposure, direct proposed exposure, indirect exposure and indirect proposed exposure calculations for borrowing relationships, as well as get updates on the exposure for all borrowing relationships on a daily basis. CL Lease will also enable users to update exposure calculations on-demand.
• Feature Updates – Additional updates include contract restructuring, debt schedules, delinquency management, asset tracking, financing of multiple equipment, cash management, reporting and dashboards.

“With the equipment leasing market continuing to grow globally, our latest version of CL Lease continues to enable lessors to streamline operations, enhance the customer experience, effectively leverage partner ecosystem and achieve sustainable revenue growth,” said Snehal Fulzele, co-founder and CEO of Cloud Lending Solutions. “Customers’ desire for solutions that are integrated represents the cornerstone of our efforts, lessors can now introduce and manage a broad spectrum of leases at a fraction of traditional costs.”