Published on 09 October 2009

With this aim in view, CHP Consulting (CHP) has developed and launched the latest version of its ALFA software solution, ALFA v5. ALFA v5 comes as the result of two-year research and development, and over £5m in fresh investment. It is set to augment previous versions of ALFA as the market leading system and is designed to have especial appeal for asset lenders with global ambitions.

Andrew Denton, CHP’s sales and marketing director told Asset Finance Europe that the new version uses the latest technologies and provides asset lenders with end-to-end functional support and simple integration with every department. “It also,” he explained, “introduces a full suite of multi-country functionality, allowing the global lessor to conduct business without borders whilst spanning languages, currencies and accounting standards.”

Denton added: “With ALFA v5 we’ve delivered a system that will be class leading for many years to come. We are putting asset finance on next-generation technologies – today!”

Existing CHP customers will be encouraged to opt for the upgrade if they wish to do so. New website training for clients will be required if this option is selected. However, Denton stressed that for those clients that continue to use ALFA v4 full support will be available on an ongoing basis.

The launch comes alongside news that SG Equipment Finance UK (SGEF) has adopted CHP’s collections system as part of the ALFA Systems software platform. SGEF has been a CHP customer since 1997 and the lessor selected ALFA for its collections management project in early 2009 with full implementation this August.

Steve Symons, operations director at SGEF explained that the system provided a re-modelled collections process and comprehensive improvements to collections management operations, underpinned by integrated workflow automation. He said: “ALFA’s collections system has allowed us to enforce our collections policy, through workflow control and automation of key tasks such as collecting fees and raising letters. In doing so, ALFA is freeing our collectors to focus on more direct customer contact and I am confident that this will lead to improved recovery rates.”

Denton added: “The system’s easy integration with reporting packages mean that senior management have far greater visibility of the arrears situation. This means that credit rules and business strategy can be adapted and based on real-time figures.”

The above was published online by Asset Finance Europe on 2 October 2009.
Reproduced by permission of the publisher.