Type of Business:
Software development and consulting services for equipment leasing and fleet management companies.
In Business Since: 1998
Odessa Technologies, Inc. is the developer of LeaseWave®, an end to end browser-based lease and loan management system designed to support the entire lifecycle of leases, loans and assets. In addition to comprehensive front-end and back-end functionality, the suite streamlines interaction between all the potential parties in the leasing process: vendors, lessees, brokers and funding sources.
Most lease management software is either contract-based or asset-based. What makes LeaseWave® unique is the fact that it takes advantage of the best that each approach has to offer. All information is ultimately maintained at the asset level, eliminating cumbersome workarounds for obtaining asset-based information and thereby substantially increasing back-office efficiencies. Given this level of detail, information can be presented at either the asset or lease level, based on context and user-preference.
LeaseWave® is comprised of a suite of 120 configurable modules that fully automate leasing company operations while generating the accounting entries for every transaction. The suite is designed to be easily configured and customized to fit the exact requirements of each client’s business model. Unlike traditional software that forces users to redesign their processes based on the limitations of a system, LeaseWave® was built with a core system that is common to any business, but has a user interface that can be easily customized to fit even the most unique requirements.
LeaseWave® is built ground-up with a workflow that can replicate any decision making process, whether associated with front-end or back-end processes. This dramatically improves efficiency when combined with metrics-based feedback on performance, allowing for the ongoing fine-tuning of decision-making processes. Additionally, the workflow supports rapid growth while adhering to proper procedures and controls. Key design features include:
- Ability to create unlimited workflows for decision making, based on any subjective and objective criteria
- Continuously identify bottlenecks in order to optimize processes and refine decision making processes – whether in the front or back office.
- Intelligent user security that dynamically adjusts based on where a transaction is in the workflow
- Automatic notification triggers at the occurrence of any event within a workflow
- Automated transfer of information to or from other systems
Typically, the trade-off for a functionally mature leasing system is old legacy-based technologies. LeaseWave® breaks this correlation: its functional comprehensiveness is complemented by its use of industry-leading technologies. Odessa is committed to remaining in step with advancements in web-based enterprise technology. Three principles determine the technical underpinnings of LeaseWave® and inform Odessa’s design choices:
1. Use of Leading Technologies
Current Version: LeaseWave 4.0
Development Platform: .NET 3.5
Database: SQL Server 2008/2012
Next Version: LeaseWave 5.0 (in development)
Development Platform: .NET 4.0
Database: SQL Server 2008, Oracle 11
The software has been specially designed to take advantage of cutting-edge technology that supports more memory and dramatically increases application speed and computing power.
2. Open Architecture
To work successfully in any leasing company, lease management systems need to interact freely with other software products. LeaseWave® is designed with a true Service Oriented Architecture in order to accommodate both inbound and outbound interfaces with ease. All LeaseWave® business functions are available for consumption by outside systems integrated with LeaseWave®. This allows for an unprecedented level of control over the extent of automation desired, on an ongoing basis, for each business function.
3. Customizable Design
LeaseWave® is engineered specifically to be configurable and customizable to tailor-fit each leasing business, not just at implementation, but on an ongoing basis as requirements change. LeaseWave® employs the concept of Rapid and Continuous process improvement to respond to changes in the decision-making process, growth, market conditions and customer requirements with maximum agility.
Odessa follows an industry-leading implementation process for the deployment of LeaseWave®. The complexity and scope of each installation determines how elaborate this process will be. For large implementations, the process can be broken down into five basic phases: (1) Project Planning, (2) Requirements Definition, (3) Configuration/Development, (4) Data Migration Consulting, (5) Testing and Training. Each of these phases consists of clearly demarcated sub-phases that give accountability, control and structure to progress. The main objective of the process is an implementation that is tailored specifically to each customer while remaining extremely predictable in terms of time and cost.