Solifi, a financial technology software partner for the secured finance industry, launched a software-as-a-service-based lease and loan pricing solution for the U.S. equipment and automotive finance industries. The SaaS version of Solifi’s pricing tool provides users with enhanced pricing and reporting functionality for simple loans to complex leases. Available on Solifi’s Open Finance Platform, the pricing solution is consumption-based rather than priced per user.

The new product leverages the Solifi Lease and Loan Pricing software suite, which allows equipment and automotive finance lenders to generate quotes and create reports in process with the goal of making it simple to offer tailored finance quotes and factor in complex payment, tax and expense details.

“We’re excited to introduce our newest solution in our suite of pricing products for equipment and automotive finance lenders, which allows customers to access pricing functionality anywhere and at any time,” Bill Noel, chief product officer of Solifi, said. “Our SaaS-based pricing solution features an intuitive user interface, making it easy for field sales to quickly create conditional quotes and secure more business. It is our mission to help our customers win and to provide increasing value through our open finance platform.”

Solifi pricing features and functionality include:

• Advanced tax calculations, including multiple options for pre-tax and after-tax yields
• More reporting options, including a full set of downloadable reports that feature summaries, cash flow, tax, rent, accounting, proof-of-yield reports and casualty / termination reports that protect after-tax yields
• Flexible payment periods that allow users to select desired payment periods, including, but not limited to, weekly and fortnightly
• Expansion of calculations that support calculations based on actual days
• New SaaS-based technology that aims to streamline processes
• Configurable bonus depreciation to accommodate the upcoming 2023 bonus depreciation rate modifications