CHP Consulting announced the release of Version 5.2 of ALFA incorporating outstanding performance and volume capabilities, new compliance controls with business rules, and integration with Vertex to provide tax solver functionality. An extended library of web services allows standard ALFA interactions to be integrated with client operations with ease, while the introduction of weekly rentals and enhanced simple interest accounting provides the freedom for clients to do business as the market dictates.

• Performance and volume. Evaluations run at both CHP and independent facilities have proven that ALFA meets the performance requirements of some of the largest asset and automotive finance portfolios that exist in the world today.

• Regulatory compliance and control. Business rules in ALFA have been further enhanced to apply compliance controls throughout the agreement lifecycle. This additional capability allows business users to configure a regulatory framework within ALFA for automated compliance controls at each stage of a business process.

• Lease accounting and administration. The bulletproof accounting engine that underpins ALFA now has improved support for simple interest, weekly rentals, actual/actual interest and asset-based depreciation.

• Integration and web services. Ease of integration with other systems has been further enhanced in v5.2 with several additional web services, providing a library of standard interactions used most commonly in the asset finance industry.

• Vertex. CHP has formed an alliance with Vertex, the leading supplier of tax software to the North American market. ALFA has been fully integrated with the latest Vertex Indirect Tax O Series® solution, providing the most advanced federal, state and local tax capabilities available in the asset finance market today.

• Further North American functionality. ALFA incorporates a framework, based on business rules and workflow, that differentiates between state and provincial regulatory compliance, including usury limits and fee processing. This framework streamlines end-to-end processes, enhances speed to market for new products, improves process completion times, and increases overall customer and dealer satisfaction.

Richard Raistrick, Marketing Director at CHP Consulting, said: “Our clients see ALFA Systems increasingly as a platform for growth. This new release builds on the idea that your asset finance platform should enhance your business rather than merely fit into it, and ALFA’s underlying strengths in workflow and user efficiency continue to streamline and standardize business processes for our clients across the globe. We have a commitment to maintaining ALFA as the best product on the market.”

ALFA Systems v5 was launched in 2009 as a fully web-based asset finance platform. Version 5.1 followed in 2011 featuring clustered, scalable volume deployment; support for multicurrency and multijurisdictional (multi-GAAP) operations, enabling clients to move easily into new markets through cross-border leasing; and various functionality elements dedicated to requirements of the Nordic and North American regions.