Odessa Technologies announced the introduction of a new product for companies looking to better manage their end of lease processes.
LeaseWave End of Lease Management integrates seamlessly with major legacy applications, allowing lessors to retain core business processing in their current environment. Data is pushed to LeaseWave as required, where users perform various activities such as end of term processing, late stage collections, contract modifications, workouts, repossessions and remarketing in a workflow enabled environment. All the necessary adjusting entries needed by the lessor’s accounting department are generated by LeaseWave and passed back to the legacy application. Furthermore, LeaseWave is integrated with standard surround systems used for equipment inspections, valuations, legal case management, etc., eliminating duplicate data entry and substantially improving process efficiency.
“Odessa recognizes that some leasing companies may not be able to make a business case to replace their entire legacy platform,” said Jim Humphrey, Vice President of Sales and Marketing at Odessa. “This product brings the benefit of automation to a key area without disrupting existing platforms or ongoing operations – all at a low business cost. The End of Lease Management product makes it economically feasible to eliminate the manual work-arounds and excel spreadsheets that are typically utilized by leasing companies to compensate for the inadequacies of their legacy systems.”
Odessa Technologies is a software company exclusively focused on the leasing industry. The company is headquartered in Philadelphia, Pennsylvania and employs a staff of 300 people. Odessa is the developer of the LeaseWave suite of products, a fully integrated browser-based lease and loan management solution, providing an end-to-end origination and portfolio management system for equipment leasing and finance, vehicle leasing and fleet management companies. The LeaseWave suite is specifically engineered to be configurable to accommodate even the most complex business model, as evidenced by Odessa’s diverse customer base.