Don’t look now – but we are in the epicenter of the accelerated changing of an industry. Businesses are bracing for a quake of disruptors in Fintech, a mass exodus to the Cloud, The Internet of Things, Block-chain, alternative finance channels and entirely new asset classes, all in the face of increasing regulation. Weathering what lies ahead is a looming challenge.
Innovation is no longer optional but now required – not only in the products that you use, but in the methods you employ. Businesses need software that can help them stay ahead of the innovation curve, respond to new opportunities, and differentiate themselves from the competition. In this time of rapid transformation, the role of technology is shifting from being an enabler of marginal efficiency to a driver of change.
With the increased role technology plays in our everyday lives, customers also now expect, nay demand, to relate to technologies in the same adaptive way at work. We are moving very rapidly toward self-service and autonomy and are increasingly treating software as a commodity rather than as tangible property that is fixed and unwieldy.
Keeping equipment finance on the forefront of these changes requires unleashing our industry’s knowledge in scalable ways that can also be commoditized. Years of knowhow and the pockets of creativity that lay dormant in every leasing company need to be tapped and given form. Indeed, we need technology-led solutions to the technology-based disruptions we see all around us. This requires equipment finance companies and software developers to take a shared approach to development.