ELFA Releases 2021 Software Guide

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
  • Cloud Native
  • Flexibility to Support Growth
  • Usability/Ease of Use
  • Support
  • Vendor Selection
  • Peer Experience

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:

  • Innovating apart
  • Creating more agile systems
  • Finding an optimal balance between people and technology
  • Removing unconscious bias in technology
  • Leading through uncertainty

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Terry Mulreany
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