Internet Based Lease Accounting Software Creating Operational Effeciency While Crunching Numbers

Internet Based Lease Accounting Software: Creating Operational Effeciency While Crunching Numbers
The leasing industry is​ yet to​ significantly harness the​ powers of​ the​ Internet .​
Despite the​ hype,​ the​ web enabling of​ the​ leasing process has been sporadic at​ best .​
While the​ industry has already taken to​ the​ Internet's obvious convenience for credit scoring and front-end application processing,​ a​ larger and perhaps a​ more significant impact on​ productivity has yet to​ be realized .​
The advent of​ the​ lease life-cycle management model can realize this untapped potential for productivity and,​ if​ implemented well,​ can even directly enhance profitability .​
Online lease management and accounting software certainly has the​ makings of​ a​ paradigm shift in​ the​ lessor's approach to​ the​ lease accounting software .​
More specifically,​ it​ holds enough promise to​ replace the​ client/server model just as​ the​ client/server model itself dethroned the​ main frame.

The Benefits of​ an​ Internet Model based Lease Management system
To implement,​ the​ Internet model is​ much simpler than its client/server based counterpart,​ demanding nothing more than a​ secure Internet server on​ which the​ lease accounting software and database reside .​
Each of​ the​ limitless number of​ computers accessing the​ server can run any operating system,​ be it​ Apple Macintosh or​ Windows 2000,​ with nothing more than access to​ the​ Internet .​
By inference,​ the​ type of​ Network and the​ leasing software's compatibility to​ it​ no longer matters .​
Even the​ physical implementation of​ the​ network itself,​ in​ laying down the​ wiring and connections,​ becomes redundant when any authorized computer belonging to​ any authorized user,​ is​ part of​ the​ virtual network .​
In this respect,​ especially for lessors with multiple operations in​ different locations,​ the​ model used in​ the​ lease management software is​ a​ boon that takes no more significant effort to​ tie two computers into its virtual network as​ it​ does 2,​000 .​
Even training employees to​ use the​ lease accounting software becomes easy when there is​ one standard program worldwide .​
This immediate scalability and operating-system/network-independence of​ the​ leasing software model makes it​ possible for lessors of​ all sizes to​ experience IT benefits unknown in​ the​ client/server world.
It would seem that today's nascent Internet technology compromises the​ functional power of​ the​ client/server model in​ their leasing software; complex algorithms required to​ amortize income or​ calculate yields appear hard or​ even impossible to​ replicate on​ a​ browser .​
Fortunately,​ however,​ with the​ growing sophistication of​ Internet developmental platforms such as​ Microsoft's Active Server Pages,​ Internet applications run a​ tight race with client/server technologies .​
The Internet based lease accounting software enables yields and depreciation schedules to​ be calculated with the​ same click of​ a​ button .​
The lease management software facilitates reports to​ be sorted,​ filtered and queried to​ obtai any conceivable information available in​ the​ database .​
Income,​ IDC and residual can be accrued,​ blended and separated,​ just like they are in​ client/server systems.
Not surprisingly,​ even technology as​ complex as​ an​ Enterprise Resource Planning system,​ simultaneously used for solutions from global car-manufacturing to​ domestic chemical-production,​ runs on​ Internet-based applications today similar to​ the​ internet based lease accounting software .​
Leading ERP vendors including SAP,​ Oracle Financials and PeopleSoft,​ for instance,​ have tried and tested success stories of​ highly versatile and complex system that are browser based .​
Lease Management Software,​ says Jay Mehra,​ COO of​ Odessa Technologies,​ Inc.,​ though sophisticated in​ its own right,​ can quite easily be implemented on​ the​ Internet .​
Despite the​ complexity,​ therefore,​ the​ functional powers of​ traditional models are easily captured in​ Internet-based applications.

Functionality of​ the​ Internet model and the​ Lease Management Software
While functionally the​ Internet application is​ interchangeable,​ its differentiating quality lies in​ its approach to​ data .​
By the​ very nature of​ their technology,​ client/server systems typically just crunch numbers .​
a​ good Internet based application,​ on​ the​ other hand,​ maximizes the​ value of​ that data,​ in​ addition to​ maintaining it .​
This translates into a​ direct value-add for the​ lessor's operational efficiency .​
Sales staff can,​ for instance,​ be allowed to​ access the​ leasing software from anywhere they can connect to​ the​ Internet .​
During negotiations,​ they can obtain historic information about the​ lessee to​ make informed decisions for new business opportunities through the​ lease management software .​
The traditional one-way pipelines of​ data delivery thus become forums for information exchange.
Equally important,​ as​ shown by the​ diagram above,​ the​ new channels of​ Internet-driven communication can now enhance the​ lessor's external relationships .​
Odessa Technologies,​ developer of​ a​ wholly web-based Lease management and accounting software,​ uses a​ series of​ independent web sites that ties the​ lessor with its various business partners .​
Through their lessee web site,​ lessees can get online help,​ access important account information,​ download invoices and even make secure Net payments enabled by the​ lease management software .​
Moreover,​ by leveraging the​ critical data residing within the​ Internet application,​ the​ lessor can even customize business promotions based on​ the​ individual lessee logging onto the​ system .​
Far from being just a​ tool that manages a​ part of​ the​ leasing business,​ lease management software thus becomes a​ way of​ conducting and even marketing the​ business .​
Through the​ Internet model the​ leasing software is​ able to​ bring about new sources of​ productivity,​ both direct and implied,​ are thus created from business relationships that are fuelled by information flow.

LeaseWave© - a​ new Wave in​ Lease Accounting Software
While the​ advantages of​ Internet-based applications are obvious,​ there is​ a​ conspicuous absence of​ such technology in​ the​ leasing industry .​
It is​ this gap between the​ ideal technology and what is​ typically available that Odessa Technologies,​ Inc .​
is​ fulfilling .​
With the​ release of​ LeaseWave©,​ a​ technology built entirely on​ Microsoft's Internet platforms,​ Odessa brings the​ lease management process online .​
Through LeaseWave© and technological collaborations with companies such as​ CapitalStream and Ivory Consulting,​ the​ company offers a​ comprehensive solution that is​ entirely Internet based by way of​ the​ lease accounting software .​
LeaseWave©,​ at​ its core,​ provides for complete asset management and lease accounting functionality,​ allowing the​ lessor to​ efficiently manage any number of​ lease portfolios in​ the​ leasing software .​
Beyond this core,​ LeaseWave© provides a​ series of​ interactive web sites that connects the​ lessor with business partners including lessees,​ funding sources,​ auctioneers and banks via the​ lease management software .​
Each line of​ communication in​ the​ lease software employs secured socket layers for complete security and is​ even e-commerce enabled,​ allowing for secure online ACH and credit card payments.
It is​ common knowledge that front-end systems,​ such as​ CapitalStream's CapitalStream - FinanceCenterTM are already leveraging the​ powers of​ the​ Internet .​
The efficiencies that they have realized,​ however,​ represent only the​ beginnings of​ a​ greater change .​
Still to​ be tapped are the​ efficiencies of​ large data-rich back-end processes .​
The web-enabling of​ lease management and accounting software,​ by companies such as​ Odessa Technologies,​ is​ a​ step towards this efficiency-realization .​
As Internet technology seeps into the​ back-end,​ the​ leasing industry stands to​ experience a​ rare paradigm shift: one where the​ technology drives the​ process rather than being driven by it.
Madhu Natarajan,​ CEO Odessa Technologies,​ Inc .​

Madhu Natarajan became the​ CEO of​ Odessa Technologies,​ Inc .​
He has consulted for various companies including Caterpillar,​ Inc and Crowe Chizek,​ LLP; Madhu brings with him an​ extensive research based leasing background with 5 years of​ leasing software experience .​
He holds a​ Bachelor's degree in​ Computer Science and Business Administration from Monmouth College,​ Monmouth,​ IL; Madhu graduated Magna Cum Laude .​
fax copy to​ 610-293-9903

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