The Equipment Leasing and Finance Association (ELFA) announced Oakmont Capital Services is the recipient of the 2023 Operations and Technology Excellence Award. Their award-winning project will be showcased during ELFA’s Operations and Technology Conference, Sept. 11-13 in New Orleans.

“We are so excited for this year's Operations & Technology Conference, where Oakmont Capital Services will be recognized with the 2023 Excellence Award,” said Candace Reinhart, CLFP, COO/CXO at CoreTech and Subcommittee Chair for the award. “Oakmont’s project is one that successfully brought together multiple partners with a shared goal of upgrading technology while still running a fast-growing business. We’re excited to delve into their story and, in doing so, offer ELFA members the inspiration to transform their own operations.”

Oakmont Capital Services (OCS) is recognized for updating three of its most critical operational platforms. First, they leveraged their existing investment in the Microsoft platforms and implemented an embedded Customer Relationship Management (CRM) and Loan Origination System (LOS) via Leasepath. Then, they rolled out a comprehensive business intelligence with AI automation capabilities system via Tamarack Technologies.

These technology improvements allowed OCS to empower their team to achieve more efficient and effective risk management while expanding market access, better vendor partnerships and enriched customer relationships. The enhancements also enabled more efficient and effective underwriting for increased market access, including an updated technology stack for faster, more profitable growth.

“We knew that we could move faster, improve profitability and better serve customers if we had a more comprehensive, integrated and flexible technology stack,” said Daryn Lecy, CLFP, Chief Operating Officer at Oakmont Capital Services. “The challenge was upgrading our technology while running a fast-growing business—it’s like changing the tires on a race car while going 180 mph. The new solution provides our team with best-in-class operational software and business intelligence. In addition, our new platform gives us access to granular, real-time data that allows us to see trends and insights immediately.”

“Congratulations to Oakmont Capital Services for this outstanding achievement,” said ELFA President and CEO Ralph Petta. “Their award-winning project showcases how technology is transforming the equipment finance industry and creating new opportunities to serve customers. This spirit of innovation is what the Operations & Technology Excellence Award is all about.”

The Operations and Technology Excellence Award recognizes equipment finance companies that have demonstrated best practices in developing and implementing innovative uses of technology or creative business processes to improve operations, enhance customer interactions, enter new markets or build overall ROI. The program brings the backroom to the foreground, spotlighting the best in the industry as an example for others. More information about the award and a list of previous winners are available at www.elfaonline.org/about/awards/OTE.   

Information about ELFA’s Operations and Technology Conference, where the award-winning project will be showcased, is available at www.elfaonline.org/events/2023/OT.

The award-winning project also will be spotlighted at the 62nd ELFA Annual Convention, Oct. 22-24 in Phoenix, AZ, www.elfaonline.org/ac.