TTX Company (“TTX”), North America’s leading provider of railcars and related freight car management services, has gone live with LeaseWave lease management software by Odessa Technologies, Inc (“Odessa”). LeaseWave has automated a significant portion of TTX treasury’s lease administration and is expected to provide more robust reporting, improve controls and increase efficiency.
“One of the keys to the project’s success was the Odessa project team working with TTX to understand our business needs. They were then able to translate that into the functions and features of the LeaseWave product to meet our needs.” says Mark Schulze, TTX Business Relations Manager. “Along with this deep understanding of the product and TTX business’ needs was a well constructed plan that everyone worked methodically and tirelessly to deliver to. I am very happy to say that this project was completed as planned with high quality results and without compromising scope.”
LeaseWave replaced a large homegrown technology system that had evolved over 25 years to cater to a wide range of complexities and nuances of the TTX business model. “Beyond the immediate value-add, we are excited by all the new opportunities that this implementation presents for our future”, says Schulze.
LeaseWave’s underlying design makes it quickly adaptable to meet requirements that may not be typical. Built completely on a services-based architecture, its various services can be reconfigured as needed for each implementation. “LeaseWave was architectured ground-up with a workflow, as an end-to-end solution, versus the integrations-of-convenience across different technology platforms that are generally seen”, says Rob Krebs, Odessa Technologies, Inc., Associate Vice President, Projects. “So we always find that the more complex the requirements get the more competitive LeaseWave gets. TTX was a great fit for us in that respect. We are very excited to have added another happy client to our growing list. We are also excited about the value this project has added to our existing railcar-industry specialization.”
TTX Company provides railcars and related freight car management services to the North American rail industry. A fleet of more than 200,000 TTX flatcars, boxcars and gondolas move intermodal containers, automobiles, lumber, machinery, building materials, steel and other commodities across Canada, Mexico and the United States. Based in Chicago, TTX is owned by North America’s leading railroads and has been providing railcar services since 1955.
Odessa Technologies, Inc. is a software company exclusively focused on the leasing industry. The company is headquartered in Philadelphia, PA and employs a staff of 250 people. The LeaseWave® suite is a fully Internet-based family of products, providing an end-to-end lease and loan origination and portfolio management solution for equipment leasing and finance, vehicle leasing and finance and fleet management companies. The LeaseWave® suite is specifically engineered, to be configurable and customizable and accommodate even the most complex of business models, as evidenced by its diverse customer base.
