Given that this was my first ELFA Convention as a member of the industry, I thought I would make note of some of my first impressions and comparisons to the technical conferences with which I have been more familiar.

If you look deeper – behind the financials – at the factors that are influencing trends and transforming industry economics, strategic planning is much more than updating last year’s AOP.

The fundamental role of empathy in innovation is not changing, but the tools we use to empathize with customers and employees are. Those who can learn and adapt in times of change will survive.

Recently, we received a follow-up question to the September 2021 Trail Mix: We often experience users anxious to get back into the system after month-end processing. Although the Period End flag has been cleared allowing this to occur technically, we still wish to prevent users from performing maintenance until the accounting/finance has given the “all clear.” How do you recommend we prevent users from accessing the system during these periods?

Every company is at a different stage on their way to becoming digital competitors. Both customers and employees have increased digital expectations that are waiting to be met. As technology and expectations continue to change, it is vital for companies to be able to respond.

We have entered the age of digitalization with no return in sight. Going digital is no longer a choice, it’s a necessity. In their recent presentation at the AACFB conference in Nashville, Tamarack’s Daniel Nelson and Leasepath’s Jeff Bilbrey dove into the realities of living in a digital finance economy.

For many Lessors with teams operating across multiple time zones, it is critical to maximize system availability. This requires a holistic study of all aspects of system operations, but we have found the daily and monthly execution of batch processing like Nightly Job Stream (NJS) to be “low hanging fruit” to monitor and improve performance.

Many commercial finance companies consider themselves “relationship businesses.” The leaders of these companies often see digital transformation as a potential threat to the foundational relationships of the business. Scott Nelson, Chief Digital Officer at Tamarack Technology, explains how digital can extend and strengthen relationships while providing scale to businesses when considered in the right context.

Have you come across a situation whereby you need to set a group of contracts and assets to a tax rate not supported by the Vertex “L” Series rate database? InfoLease does provide SUPs (Special Update Programs) to update tax codes and rates.