ELFA Names Cisco, John Deere Winners of 2019 Ops & Tech Award
JUL 15, 2019 - 6:45 am
The Equipment Leasing and Finance Association named the winners of its 2019 Operations and Technology Excellence Award: Cisco Systems Capital for Project Excellence and John Deere Financial for Excellence in Innovation.
The two award-winning projects will be showcased during ELFA’s Operations and Technology Conference on September 16-18 in Chicago.
Cisco Systems Capital was recognized for designing and implementing a single credit platform that enables sales. The company retired its former credit systems and replaced them with a consolidated platform to drive continued innovation and maintain best-of-breed credit practices. The new system accelerates credit decisioning, serves as a sole credit portal and upholds credit policy. The result is improved workflow, a simplified and more efficient credit approval process and reduced operating expenses.
John Deere Financial was recognized for developing an automated equipment inventory system. Using telematics technology, the new system enables the geo-location of equipment to verify its presence at dealerships. The new system, which is in trial stages, connects data from disparate platforms and offers a simple dashboard that makes it easy to verify the presence of hundreds of high-value assets at dealerships at any given time and identify inventory discrepancies. Moving from manual inventory inspection to automated inspection has the potential to streamline the inventory inspection process, increasing efficiencies and reducing costs.
“The Operations and Technology Excellence Award Committee is excited to have received a record number of submissions this year,” said Jennifer Martin, vice president of Leasing and Vendor Program Support at Key Equipment Finance and the subcommittee chair for the award. “Through many sessions of review and scoring, the committee felt the award candidates fell into two main categories: Project Excellence and Excellence in Innovation. With the support of the ELFA, we’re happy to be able to recognize both.”
“We applaud all of our award applicants, whose work is a testament to the technology innovation underway in the equipment finance industry,” said ELFA President and CEO Ralph Petta. “We are honored to recognize Cisco Systems Capital Corporation and John Deere Financial, whose winning projects serve as a model on the effective use of technology in our industry. We congratulate both companies for their cutting-edge solutions.”
The Operations and Technology Excellence Award identifies and recognizes equipment leasing and finance companies that have demonstrated best practices in developing and implementing innovative uses of technology or creative business processes to improve operations, enhance customer interactions, enter new markets and build overall ROI. The program brings the backroom to the foreground, spotlighting the best in the industry as an example for others.
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