Since its launch at the end of March 2020, nearly a dozen Monitor 100 companies including LEAF Capital have taken advantage of speed and simplicity provided by Tamarack Consulting’s Extension-of-Terms Automation Utility (ETAU). In order to increase the value provided by ETAU, Tamarack has expanded the functionality with new features that address not only current needs but also to support the anticipated “second wave” of requests.
“During a time like this, it is critical that lessors can quickly react to changing client needs,” said Daniel Nelson, CEO of Tamarack. “The speed at which modifications can be made has been a ‘game changer’ for many institutions. As we continue to add more features, including processing for second and third forbearance requests, lessors will realize more value from the utility as a customer management and service tool that also protects the lease portfolio performance.”
Designed to assist equipment finance companies (lessors) operating IDS’s InfoLease platform, Tamarack’s ETAU empowers lessors with the tools to quickly automate lease/loan modifications for lessees. According to Nelson, traditional legacy lease management systems typically can only do a few modifications at once and requires manual intervention – making the process labor intensive and time consuming. Through ETAU, Lessors running InfoLease are able to modify thousands of contracts in just minutes.
Since its introduction, ETAU has been expanded to meet evolving lessor’s needs as well as new guidelines. New or updated features enable:
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