Complete document management functionality is central to the LeaseWave® WorkFlow workflow management system. Users can establish any number of document templates at various levels, including at the vendor, customer, lease and asset levels. Each of these templates also has various versions. Once document templates are established, documents can be generated either automatically or manually by the workflow management system, as desired by the user. The automated generation of documents can be triggered by various events that take place in the workflow and lease management systems. Once generated, actual executed documents can be scanned and saved in the system.
In LeaseWave®, any number or versions of documents can be saved against a given document requirement; if a negotiated agreement, therefore, had multiple versions covering a negotiation period, each one of these versions can be preserved so as to maintain a complete audit trail of all changes in each version. Each document can also have “rider” documents attached to it, capturing ongoing changes to an executed document. If changes were made to a Master Lease Agreement subsequent to the inception/maturity of various leases, these changes can be recorded as riders to that main agreement. A rider document is always associated with its parent document, making it convenient to manage and understand an agreement in its entirety.
As documents can be stored electronically in LeaseWave®, they can also be retrieved easily, even if archived for many years. Document management becomes an entirely paper-free process within LeaseWave® WorkFlow’s workflow management system, if desired by the customer. Furthermore, from a security standpoint, the LeaseWave® WorkFlow system allows for an exclusive level of security to be maintained on documents. Security measures can be set up such that only certain users are allowed to add new document templates, edit given templates, attach new versions or even generate a given document.