End of Lease
ALFA’s end-of-lease functionality contains fully configurable early settlement calculation and processing for either full or partial terminations. With forward- or back-dated quote generation, payoff amounts can be based on client specific calculation methods, thus incorporating full local consumer credit support.
To represent extra costs, additional charges can be added at any point in the processing, with automated calculation of rebates and clawbacks also part of the process. ALFA’s terminations functionality also allows areas such as quotation expiration to be completely client process-dependent.
Any terminated or partially terminated contract in ALFA can be fully restored to its original state, with all relevant accounting entries produced automatically.
When a contract reaches maturity, ALFA provides various configurable options, including extensions, disposal and returns processing. Both formal and automated informal extension periods, including evergreen, can be set up on contracts, with calculation customizable for these periods and including values for rentals, other charges, depreciation and usage allowances.
ALFA also allows automated calculation of income sharing; for example, with introducers based on a percentage of the extension rental. All maturity processing can trigger workflows and automated correspondence as required, allowing targeted customer remarketing. Where a schedule has reached maturity and is within a predefined arrears tolerance, ALFA can terminate schedules automatically and perform all required financial processing with no need for user intervention, ensuring maximum efficiency in a high-volume environment.
For asset returns, integrated workflow in ALFA allows the configuration of effective collection and delivery management processes. For complete flexibility, all asset disposal functionality can be processed before or after any contract termination. Multiple sales channel support ensures a two-way interface to remarketing partners for greatest profitability.
Key Benefits
- Flexible settlement methods.
Accurate termination process and a configurable calculation engine ensures expected profitability is maintained. - Enforce maturity processes.
End of lease options, managed by workflow, to drive expected results. - Optimize resale values.
Process defined integration with remarketing partners. - Generate new business.
Automated and targeted upselling as part of the contract maturity workflow.