The increasing reliance on technology by equipment finance companies in virtually every aspect of their businesses makes investment in software solutions a critical consideration. To assist in the decision-making process, the Equipment Leasing and Finance Association released the 2021 ELFA Software Guide, showcasing leading software solutions for the equipment finance industry.
The 2021 ELFA Software Guide includes a new “checklist for evaluating your software solution,” which includes expert recommendations from members of the ELFA’s Operations & Technology Committee, the ELFA’s Technology Innovation Workgroup and software service providers. Key areas to consider include:
Define Your Goal
Configured vs. Customized
Integration with System Architecture
Flexibility to Support Growth
Usability/Ease of Use
The guide also includes “five trends changing our workplace” as the COVID-19 pandemic continues to recede in the U.S. and equipment finance companies redesign their technology roadmaps, including:
Creating more agile systems
Finding an optimal balance between people and technology
Removing unconscious bias in technology
Leading through uncertainty
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