Asset leasing software, also referred to as equipment leasing software, manages all activities within leasing lifecycle management, from ordination through end-of-lease activities. Companies use this type of software to track their equipment leasing operations, documents and contracts, and pricing, as well as billing and collections. This type of software also helps with compliance and tax management. Asset leasing software is mostly used by asset managers and finance professionals, while its reporting features are critical for executives who make decisions regarding their company’s portfolio of assets.
Asset leasing software is delivered as a standalone solution or within a package of multiple products. This type of software needs to integrate with CMMS and enterprise asset management software, as well as with accounting software and ERP systems.
To qualify for inclusion in the Asset Leasing category, a product must:
- Include contract management features for asset leasing
- Manage portfolios of various assets such as equipment or vehicles
- Provide workflows for credit evaluation and approval
- Track the equipment leasing lifecycle of asset portfolios
- Manage all documents and files related to asset leasing
- Ensure compliance with regulations specific to asset leasing
- Generate financial entries and accounting transactions for leasing
- Analyze leasing KPIs and provide regulatory reporting features