Customers cash flow needs are increasingly demanding—and flexible financing options bundled with consumables and services are expected. Manufacturers and their capital partners are seeking to build stronger customer relationships while positioning greater up-sell opportunities.
Equipment financers are often burdened by a rigid and incomplete IT infrastructure that has been pieced together using a complex web of niche software applications or customizations. These constraints prevent the agility and flexibility needed to surpass their competition and boost revenue growth.
Lenders must be able to create and support new financial products and provide attractive and flexible finance options that make it easier for their customers, dealers, and vendors to acquire new and used equipment. This requires a solution that enables organizations to share common information, predict and adapt quickly to market opportunities, and power faster, better informed, and more consistent decisions.
How Oracle Can Help
Lenders offering flexible financing options through leases, loans, or revolving credit, automatically establish a stronger relationship over a longer horizon. To build a stronger relationship, lenders must quickly respond to customers as circumstances change. Oracle Financial Services Lending and Leasing provides lenders with a 360-degree view of their customers to arm their customer-facing teams with asset, account, contract, receivables, and payables information so those teams can quickly provide customers with informative and accurate data. Customers can also review their own asset information, view invoices, request termination quotes, update bill-to sites, make payments, and more. Fast and easy contact with customers increases upsell opportunities for products, services, and consumables—and because all processes can be workflow driven, lenders have ultimate control to automatically enforce contract and business rules when processing upgrades, swaps, or exchanges.
Oracle Customer Success Story
The captive finance company for a US-based agriculture, utility and construction equipment firm needed to modernize its highly customized legacy finance system and required a more scalable system. It was seeking to manage all financial products on a single system, improve customer relationships, and deliver new programs to drive sales—all while reducing costs and ensuring regulatory compliance.
It selected and deployed Oracle Financial Services Lending and Leasing to offer both loan and lease products, supporting aggressive growth, enhancing relationships with more than 1000 dealers, and achieved the below results:
- Reduced manual transaction processing with automation
- Streamlined customer self-service capabilities and debit card processing
- Improved customer satisfaction
- Increase operating efficiencies