Odessa, the developer of the LeaseWave suite of products, a fully integrated end-to-end lease and loan management solution, announced the introduction of a new product for companies looking to better manage their End-of-Lease processes.
LeaseWave End-of-Lease Management integrates seamlessly with major legacy applications, allowing lessors to retain core business processing in their current environment. Data is pushed to LeaseWave as required, where users perform various activities such as end of term processing, late stage collections, contract modifications, workouts, repossessions and re-marketing in a workflow enabled environment. All the necessary adjusting entries needed by the lessor’s accounting department are generated by LeaseWave and passed back to the legacy application. Furthermore, LeaseWave is integrated with standard surround systems used for equipment inspections, valuations, legal case management, etc., eliminating duplicate data entry and substantially improving process efficiency.
“Odessa recognizes that some leasing companies may not be able to make a business case to replace their entire legacy platform,” said Jim Humphrey, Vice President of Sales and Marketing at Odessa. “This product brings the benefit of automation to a key area without disrupting existing platforms or ongoing operations – all at a low business cost. The End-of-Lease Management product makes it economically feasible to eliminate the manual work-arounds and Excel spreadsheets that are typically utilized by leasing companies to compensate for the inadequacies of their legacy systems.”