The LeaseWave® WorkFlow system performs the functions of lease analysis software and accommodates for a wide range of pricing mechanisms to come up with pricing decisions for lease applications. Rules can be determined that drive certain variables in price, based on credit scores, lines and types of credit, the type of asset being leased, etc. Multi-dimensional pricing matrices can also be built into the lease accounting software to be applied in given circumstances, whether this is for selected vendor programs, broker relationships or other rule-driven classification criteria. Floors and ceilings can be set and adjusted dynamically based on the value of certain variables and outcomes of automated decisions in the workflow management system.
One of the most key decision processes in lease application management is credit-decisioning. Most off-the-shelf leasing analysis software products do not typically support credit-decisioning functionality. They either act as stand-alone calculators (a software version of the HP-12 calculator) or as systems that can include credit-information in its credit-decision process but needs this to be input from another system. The LeaseWave® WorkFlow system, on the other hand, adds more power to lease analysis and credit-decision by combining the two functionalities into the same workflow management product.
The credit decision process is also the most diverse, based on the different credit-scoring, financial variables and other mechanisms used by companies. The LeaseWave® WorkFlow system provides a broad workflow management structure and the tools with which to develop the desired credit-decision environment/s while also meeting the leasing analysis software requirements for each individual company. The system also allows for direct access to external national credit bureaus (for North American companies); the system can use the retrieved reports to make intelligent credit decisions. Rules can be set up and applied that dictate approval limits, affected by various criteria within the workflow. Credit lines, both draw-down and revolver, can be established at the customer and transaction levels. The LeaseWave® WorkFlow system , therefore, aims to provide users with all the necessary workflow management tools to build the exact credit-decision system/s that is/are desired.