Modern times require modern solutions to manage the operations of your financial services business, thus it becomes critical to find the right balance when the main object implies financial exposure. Sensitive information is transferred when money is greatly involved in the operations, therefore some challenges might be incurred in the process.
➡️ Difficulty to comply to regulatories: Today’s financial services require the organization to comply to certain regulations, such as IFRS16, which are imposed by specific institutions and drafted in order to maintain and advocate for accounting standards in the leasing business. Such regulations play a great role in the business development and it can become challenging to comply to those regulations if the business processes are not thoroughly documented and structured.
➡️ Adapt to market demands: Every business involved with financial services is urged to evolve to a complete services provider standing point, so being only focused on financial transactions will not suffice, but also providing additional managed services, e.g. maintenance or insurance services, full equipment lifecycle, including having a good understanding of the residual value, while encompassing complete new monetization options, by offering digital services.
➡️ Accomodation to business specifics: Financial services exploit sensitive data and accuracy is an essential aspect to be taken into account, as well as how every business has their own way of doing operations with unique pricing and even multiple types of contracting, depending of rules, timeframe, performance or service. The impossibility to accomodate those differences will have consequences over customer satisfaction and how the business could acquire more sorts of clients.
Manage an easy IFRS 16 compliance by providing readiness for that through full synchronization between SAP and Lease&Rent.
Utilize your accounting system efficiently by integrating it into Lease&Rent and maximize the utilization of all features while adapting to today’s market demands.
Perform short-term and long-term billing, including pay-per-use with flexible payment terms, including billing simulation or re-calculation.
Fulfill your financial duties in terms of revenue recognition or depreciation business by managing all types of invoicing and simulations within Lease&Rent.
Increase the business capacity to facilitate services for a variety of client typology.
Don't let leasing operations hold your business back. Contact us today to see how BearingPoint Lease & Rent can transform your financial services.
