The Importance of Information Technology in Managing Leasing

Business under the Equipment Leasing Act, 2015

by

Samuel Akinniyi Ajiboyede

Managing Director, FleetPartners Leasing Ltd

What is Information Technology?

The technology involving the development, maintenance, and use of computer systems, software, and networks for the processing and distribution of data

- Merriam Webster

Leasing Business- The 3 Pillars

LEGAL

OPERATION

TECHNOLOGY

Drives

Drives

LEASING BUSINESS

Applying IT in Leasing Business

LEGAL FRAMEWORK

OPERATIONAL FRAMEWORK

TECHNOLOGY FRAMEWORK

Equipment Leasing Act of 2015

Standard Operating Procedure (SOP)

Process automation

Regulatory Authority Policies Cost control

Lease Agreement Day-to-day activities Risk management

Documentation Work flow Internal & external appraisals

Legal basis of the business

Implementing actions aligned with legal framework)

Communication and information sharing

Applying Technology in Leasing Business

Risk Management

Depreciation

Residual value Mgt

Asset recovery

Exposure control

Process Automation

Data entering

Work flowInformation sharing & communicationCentralized database & backup

Report generation

Cost Control & Efficiency

Intelligent system

Cost control

Reminder alert

Intelligent control centreSeamless multi-platform communication

Applying IT for Regulatory Authority

Central Database

• Membership registration

• Membership renewal• Lease agreement log

Resources

Sharing relevant applications among practitioners in the industry

Leasing Business without Technology

• Cost spiking up• Client complains & distrust• Cumbersome data gathering• Uncontrolled expenditure• Staff misbehavior• Fueling mismanagement• Asset abuse• Over-maintenance/under-maintenance• Inaccurate reporting & scheduling• Transactional defaults resulting in loss

Leasing Business with Technology

• Cost efficiency• Effective risk management• Minimal downtime• Accurate reporting & scheduling• Efficient staff• Smooth communication channel

between organization and stakeholders• Effective maintenance

management• Profit guaranteed within transaction

cycle

Remember!

You cannot manage what you cannot measure

Thank You!