2022-11-25

BPMS in the leasing industry

Łukasz Bieniewicz
Board Member / Pega Certified Lead System Architect
Łukasz Bieniewicz
Board Member / Pega Certified Lead System Architect

The importance of leasing for the economy is constantly growing. While initially it constituted mainly a source of favorable and friendly financing for the purchase of vehicles for companies, today, it has turned into an excellent way of financing a wide range of their assets.

The growing demand also means more and more challenges for leasing companies in terms of the quality and speed of customer service. The dynamic development of the market must be supported by the equally dynamic development of companies, in most areas of their operation, particularly in contact with end customers and business partners.

To remain within the competitive market, companies will have to rely more and more on tools which allow for automation of sales and service processes. There is a need for strong IT support which can equip the company with the necessary knowledge and tools to carry out the digitization process effectively and safely.

What does your client need…?

Research shows that customer service is an area that determines whether or not one will gain a competitive advantage in the market.

Customers expect trouble-free, modern products and services precisely tailored to their needs. And it is exactly the provision of personalized customer experiences, in all access channels and at every stage of interaction with them, that will allow for building long-term relationships with customers, which must bring measurable results in the form of increases in retention or sales rates.

 

.. and what does your organization need?

On the other hand, while intensively fighting for the customer, leasing companies must change their organization in terms of both existing business processes and the tools and technologies used to implement them. In particular, the technological layer often consists of too many application systems, limited to only one access channel (www, mobile access, etc.), or intended for only one segment of the company’s operations. This often results from the company’s long history on the market and from the many organizational changes that have affected it in the past.

As a result, the organization struggles with low productivity, lengthy and expensive business processes, and limited opportunities to relatively quickly adapt to the dynamically changing market conditions. Complicated business processes, full of manual and repetitive tasks, also have a negative impact on employees, by reducing their job satisfaction and, as a result, increasing employee turnover within the organization.

BPMS to the rescue!

One tool that perfectly fits into the digital transformation landscape of leasing companies is BPMS platforms. They allow for automating even the most complex business processes which are spread across the entire organization, which involve employees from many areas of operation, and which require integration with multiple external systems.

Such solutions are often created with the use of a low-code approach which is characterized by high flexibility and easier to implement and subsequently develop. This is particularly important because, within the leasing industry, many business processes are exposed to frequent legislative modifications or the need to adapt them to dynamic market changes. A modern BPMS platform can therefore grant a significant competitive advantage, as it allows for introducing the relevant changes faster than it what would be possible with traditional IT solutions.

 

It is also worth noting that the BPMS platform collects and provides a lot of detailed information on the course of the entire process, which significantly facilitates its monitoring (especially in terms of SLA) and further optimization. It also provides a complete set of information for a potential audit.

Clocklike Minds – implementations in the leasing industry

We have implemented the BPMS platform and automated the process of concluding a new leasing contract in a company which is a leading player in the Polish leasing market. Before the introduction of automation, the process was largely manual, prone to human errors, and slow. Its implementation was spread between many smaller tools (excel sheets, web interfaces to external applications, etc.).

The implementation aimed to speed up the process, centralize it and minimize the need for the company’s employees to make subjective decisions about its course.

The scope of the automation covered practically the entire process of concluding a new leasing contract, from registering the leasing application, through checking the Partners’ credibility and making a credit decision, to creating and registering a leasing contract in an external system.

 

The effects of our work speak for themselves:

When deciding to cooperate with Clocklike Minds, you can be sure that your company’s digital transformation will be carried out by a team of specialists with a rich portfolio of successful implementations within the leasing industry.

 

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