88% of new vehicles on the road are now leased. On the face of it, success means more business. But if not managed correctly more business can be a poisoned chalice as businesses have to deal with greater levels of paperwork, and accountability requirements from auditors and regulators.
One of the largest problems faced in the Leasing industry currently is managing standard and end user terms properly and the ability to intelligently communicate this to all parts of the business.
The entire business is affected when the process is manual, slow, or broken. In fact it has barely changed in the last 15 years.
Think about that for 1 second………….15 years!
Terms management is a long-drawn-out process. Today, OEMs send leasing companies piles of terms data multiple times per year. This includes standard terms, end-user customer terms, and new vehicle terms. It’s a lot and getting it wrong by even 1% can cost up to £500k annually! That’s going to be an awkward conversation with the CFO…
These terms are sent mostly via PDF or email file formats – Because of this, these terms require manual, time consuming management and interpretation to turn it into data that can be used.
“Discount Management” from QV is a solution that handles terms management for leasing companies and OEMs with speed and accuracy. Sales teams are armed with new terms before their competitors to close deals, pricing teams can be focused on adding value, risk and compliance teams are resting easy, and there’s less headcount doing manual data input.
For leasing companies and OEMs, Discount Management offers a single place to access terms data, and manage the standard and end user terms with ease. Our machine reading and AI tech makes light work of reading terms – from PDF to emails.
It also interprets the terms, cap codes the terms, puts them in a structured data format and pushes them into our platform without manual intervention.
This process also works to allow OEMs to publish to leasing companies on our platform, allowing lessors and OEMs to interface in real time directly if they want to. The terms sent from OEMS can be directed into the lessors system via email. Easy!
Discount Management does all of this while offering new functions such as alerts and lists, improving workflow, reporting and audits, to better your effectiveness. The API design helps to provide full integration with pricing and quoting systems, increasing mobility for your business.
Transform your Leasing Business with Discount Management
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