TTX Company (“TTX”), a leading North American provider of railcars and related freight car management services, has selected LeaseWave®, a lease management software by Odessa Technologies, Inc (“Odessa”). TTX’s Treasury Department intends to use this system to automate a significant portion of the administration and accounting for its leveraged leases, in its lessee role, as well as its meaningful debt obligations.This move should allow TTX to realize new efficiencies and scale.
TTX's Treasury and IT Departments issued a formal RFP and conducted an extensive evaluation process to identify the appropriate software solution to support its current and anticipated future requirements. Its current technology infrastructure had evolved over many years to cater to the various complexities and nuances of its business. TTX soon found that not all software systems on the market were flexible enough to cater to its unique requirements.
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 methodically 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 Jeff Lezinski, Odessa Technologies, Inc., Vice President, Equipment Finance. “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 also very excited about the opportunity to add to our existing railcar-industry specialization.”
Since 1955, TTX has been a unique and creative provider of rolling stock to the rail industry. The company is privately-owned by North America's leading railroads and was created to provide them a pool of railcars that could be interchanged freely. TTX sustains and builds on this heritage today, owning and managing a fleet of more than 200,000 railcars that move intermodal containers, automobiles, lumber, machinery, building materials, steel and other commodities across Canada, Mexico and the United States.
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.
