Asset Management

LeaseWave is a true asset-based leasing system. A dedicated module handles the entire asset life-cycle including build, purchase, on and off-lease management, maintenance and remarketing. The module adapts to each business model’s specific needs: fields and table-driven information (such as year/make/model and components) can be added or removed as needed. Other attributes such as unlimited meters (cost-per-image), odometers (miles, hours), preventative maintenance schedules, and locations can be associated with each asset. Assets can be inter-related in “parent-child” and “family/group” relationships for ease of operations. In short, unlike other leasing software, asset management in LeaseWave is adapted to exactly mimic reality – no matter how simple or complex this may be.

Asset creation

• Download vendor invoices electronically into leasing system to automatically create assets
• Clone individual or groups of assets from existing assets
• Change unique information such as serial numbers through speed-friendly data entry
• Build assets progressively through staggered progress / installment payments

Asset attributes

• Assign an unlimited number of addresses against each asset in leasing system
  • Tax address will drive sales/use tax
  • Other addresses like registration, titling, etc. will drive related modules
• Define tables to drive year, make, model information or integrate with standard database
• Track each line item on an invoice individually for payment
• Categorize assets into user-defined types, with additional defaults driven by type
• Add user-defined fields (UDF) to track additional information
  • UDFs have all the power and functionality as standard fields
  • UDFs can be used as filters for reporting
  • User defined reports can include UDFs
• Exclude fields that are not relevant so that they don’t appear on screens within the leasing system

Status tracking

• Define any number of statuses and sub statuses that an asset can be in
• Use leasing system business rules to drive automatic status, sub-status selection
• Record a comprehensive asset snapshot on each status / sub-status change

Location tracking

• Track location history with full detail within the leasing system, each time asset changes location
• Automatically ensure that taxable locations are valid jurisdictions
• Associate each location change with an effective date
  • Effective dates can be prospective or retroactive
  • All sales / property tax ramifications are automatically handled
  • Allow customers to request location changes online through lessee portal

Asset relationships

• Relate assets in parent–child/children relationships for operational efficiencies
• Break up relationships as needed (as during partial terminations)
• Group assets (independent of parent/child relationships) for operational efficiencies
• Clone entire groups / families of assets
• Use business rules around the formation and break up of families / groups
• Define a quantity against an asset if it represents more than one, and split when needed

Inventory repository

• Leverage capabilities as an asset-based leasing system to track equipment lifecycle independent of underlying lease(s)
• Maintain assets in inventory and lease, re-lease and remarket them as needed
• Refurbish, mark-up/down assets in inventory prior to re-leasing or remarketing
• Unlike in other leasing software, define start/end dates for depreciation on off-lease assets