The Equipment Leasing and Finance Association released the 2019 ELFA Software Guide showcasing the leading software solutions for the equipment finance industry.

The guide is designed to help equipment finance companies compete in the new digital frontier, as more organizations take steps to innovate their business processes, tackle new technology projects and invest in systems upgrades.

The 2019 Software Guide includes “7 Technology Steps to Take Now,” outlining actions companies can take to incorporate emerging technologies into their operations, including:

• Determine the best benefits from data analytics
• Implement smart contracts
• Look for opportunities to apply AI
• Increase vigilance against fraud
• Think about where to use blockchain
• Look and learn outside equipment finance
• Modernize IT systems

The guide also includes “Quick Quiz: How do you know when it’s time to upgrade your software platform?”

The 2019 ELFA Software Guide is available at mydigitalpublication.com and via the ELFA website.