Given the cost and complexity associated with implementing an end to end lease management system, leasing companies are reluctant to pull the plug on old legacy systems even if an upgrade to newer technology is long overdue. read more
Like going to the dentist, making investment decisions on technology can be a time consuming and painful experience. If the process of building consensus on a business case and analyzing all the vendors and products available in the marketplace takes too long, the business runs the risk that by the time a decision is made and the technology is implemented, market or regulatory changes will have occurred and the solution will be inadequate. read more
Just as we begin to emerge from one of the most significant recessions in history, the biggest changes to U.S. and International lease accounting since the mid-1970’s, when FAS 13 and IASB 17 were issued, are on the horizon. Since 2002 the Financial Accounting Standards Board (FASB) in the U.S. and International Accounting Standards Board (IASB) in Europe have been working on various projects to converge certain standards of accounting on a global basis. read more
One of history’s most famous work flow systems was created by Henry Ford in 1903. Until then, cars were built one at a time, by hand. Ford revolutionized manufacturing and created the moving production line where workers at each point had a specific task to complete and each task was sequenced to make sure the entire process ran smoothly. read more
Madhu Natarajan, CEO of Center City's Odessa Technologies, Inc., which provides consulting and software solutions for the leasing-related businesses, came to the United States to attend Monmouth College in western Illinois in 1995. He came to Philadelphia five years later to start Odessa with partner Jay Mehra, who attended Haverford College and was working at PricewaterhouseCoopers. Mehra is now back in Bangalore and serves as chief operating officer. read more
The efficiency of every busy restaurant is directly impacted by the competency of its waiter. Shuttling between the kitchen and his table assignments, he has to give each table the time it needs (but never more) to decide on food, note multiple orders accurately and of course time appetizers, drinks and dessert so everyone at each table is enjoying the right course at the right moment. read more
Lease management software provider Odessa Technologies contends that automated workflow processing accelerates lease processing times, effectively manages related processes, and optimizes workforce efficiencies in any decision making environment. Any workflow process, whether it be for the decision on lease applications or vendor payments (check requests), can be accommodated by an automated workflow system that is built with adequate versatility. In fact, the automation of decision making can fundamentally change the way an organization works, forcing it to confront its bottlenecks and find new ways to create efficiencies. read more
After extensive research, Fleet management consultants Odessa Technologies, Inc. recently identified key trends shaping the fleet management industry. Among these key trends, in addition to real-time exchange of information, users can expect to see greater functionality derived from (1) the integration of leasing software and fleet management systems and (2) web-based fleet/leasing software. With the advent of Internet-based fleet management software, fleet management companies can now leverage the accessibility of the Web to create significant advantages over traditional leasing software products. read more
LeaseWave WorkFlow is a Web-Based workflow processing system that accelerates lease processing time, effectively manages other related processes, and optimizes workforce efficiencies in any decision making environment. Any workflow process, whether it be for the decision on lease applications or vendor payments (check requests), can be accommodated. read more
As the lease becomes a service rather than just a financial product, the back-end software managing it can no longer be a repository of disjointed data -- it must actively connect the disparate parties of the lease process read more
The leasing industry is yet to significantly harness the powers of the Internet. Despite the hype, the web enabling of the leasing process has been sporadic at best. While the industry has already taken to the Internet's obvious convenience for credit scoring and front-end application processing, a larger and perhaps a more significant impact on productivity has yet to be realized. The advent of the lease life-cycle management model can realize this untapped potential for productivity and, if implemented well, can even directly enhance profitability. read more