Front-End Automation & Sales
IFSLeaseWorks offers the capability to automate all front-end processes as a stand-alone Salesforce application or as a customized solutions that seamlessly integrates with the IFSLeaseWorks platform using all core front-end capabilities. Either alternative provides for lead generation and opportunity workflow, application workflow, credit scoring and documentation. IFSLeaseWorks rich set of web-service API’s allows customers to customize how they use Salesforce for front-end automation and sales.
Collections
IFSLeaseWorks customers can chose to use the core IFSLeaseWorks collections module or a fully integrated Salesfoce.com application. Either alternative includes similar capabilities. Each collector has a work queue for identifying and prioritizing their collection efforts. Collectors can communicate with customers via email or text message (IFSLeaseWorks stores text message threads) and store an unlimited number of unlimited length comments. Collectors can interactively process payments for one-time ACH or credit card payments or direct customers to the customer service portal to make an ACH or credit card payment. Configurable collection actions track all activities of the collectors, including whether payment commitments are made or broken.
Customer Service
IFSLeaseWorks customers can chose to use the core IFSLeaseWorks customer service module or a fully integrated Salesfoce.com application. Either alternative includes similar capabilities. IFSLeaseWorks customer service capabilities include buyout quotes, customer relationship overview, access to payment history and past comments (customer and contract views). Flexible search capabilities ensures contracts can be quickly accessed by lessee, guarantor or asset. Communicate with customers via the customer service portal, email or text messaging. An unlimited number of buyout methods can be configured for buyout at the asset or contract level. An asset can be split into multiple assets to support asset buyout quotation and termination.
Reporting
Application and contract data is imported into Salesforce from the IFSLeaseWorks core database each day. This allows Salesforce users to mine and report on detail data or metric level data using Salesforce reporting tools. IFSLeaseWorks supplements this capability with a Microsoft BI based business intelligence portal. The Business Intelligence portal is built over a data-warehouse of historical data which is populated daily. Historical data provides for historical reporting and trend analysis that traditional reporting can't provide. The portal is comprised of dashboards for origination, collections, portfolio, and asset data. Develop your own KPIs on custom dashboards and write custom reports. Built in capabilities include static loss analysis, vendor/broker performance and origination performance. Data is presented using interactive graphics, allowing users to drill into analysis down to the contract level.
Asset Management
IFSLeaseWorks' asset management capabilities provides asset managers with tools to efficiently maximize repossession and end-of-term options. Functionality includes end-of-term processing, work queues, buyout quotes and processing, remarketing and post-maturity lease payments. A complete asset inventory system manages and provides accounting for inventory of purchased or repossessed assets.
Customer Service
IFSLeaseWorks customer service capabilities include buyout quotes, customer relationship overview, access to payment history and past comments (customer and contract views). Flexible search capabilities ensures contracts can be quickly accessed by lessee, guarantor or asset. Communicate with customers via the customer service portal, email or text messaging. An unlimited number of buyout methods can be configured for buyout at the asset or contract level. An asset can be split into multiple assets to support asset buyout quotation and termination.
Originations
IFSLeaseWorks origination capabilities seamlessly manages origination workflow for transactions sourced internally or by brokers, vendors or dealers. Workflow is customizable and can be unique for each channel. IFSLeaseWorks supports small-ticket, middle-market or highly structured transactions. IFSLeaseWorks also provides a rich set of web services for two-way integration with third-party or custom front-end systems. Workflow can be configured to seamlessly integrate functionality of IFSLeaseWorks and integrated front-end systems. IFSLeaseWorks capabilities allow for "touch free" automation of application processing, credit, and documentation giving your vendors the immediate decisioning they need.
Booking & Funding
The IFSLeaseWorks booking capabilities ensure that a transaction doesn't require additional modification after booking to comply with the terms of the agreement. For example, booking capabilities includes billing setup, recurring payment setup and automated force-place insurance. Configurable discrepancy testing ensures that every transaction complies with underwriting guidelines. IFSLeaseWorks funding capabilities allow for payments to be scheduled for future payment and can be paid via check, ACH or wire-transfer.
Workflow
Throughout IFSLeaseWorks, work queues manage workflow for credit, documentation, customer service, collections, suspended cash, bookkeeping, and asset management. Custom work queues can also be configured for processes that are unique to your organization. Workflow and related work queues are controlled via user-defined status codes as well as system processes such as delinquency and end-of-term. Users are assigned to work queues related to their activities. User can also set their own to-do reminders. Notifications for work queue changes and to-do's are customizable by the user. Notifications can be configured as screen pop-ups' or email and also appear on each users' home page notification dashboard.
Collections
A nightly delinquency job assigns delinquent leases and loans to collectors based on configurable rules. Each collector has a work queue for identifying and prioritizing their collection efforts. Collectors can communicate with customers via email or text message (IFSLeaseWorks stores text message threads) and store an unlimited number of unlimited length comments. Collectors can interactively process payments for one-time ACH or credit card payments or direct customers to the customer service portal to make an ACH or credit card payment. Configurable collection actions track all activities of the collectors, including whether payment commitments are made or broken.
Vendor & Broker Management
IFSLeaseWorks provides unrivaled functionality for managing partner programs and for collaborating with vendors and brokers. Partner programs include partner specific rate plans, credit score cards, residual sharing, renewal sharing, cost-per-click, and vendor pass-through billing.
Lease & Loan Accounting
IFSLeaseWorks lease and loan accounting is GAAP compliant out-of-the box. Transactions can be configured to address unique situations your organization may have. IFSLeaseWorks internal accounts are easily mapped to your chart of accounts as well as other account segments including: company, line of business, cost center and contract type. Each financial activity creates a balancing entry which is posted to your general ledger each night in summary or detail. The posting process is designed to ensure that the activity posted to your general ledger reconciles to the IFSLeaseWorks trial balance and related activity reports. IFSLeaseWorks rebooking process allows you to easily modify a transaction to correct a booking error or restructures without terminating and re-entering. Contracts can be written-off for book purposes and remain open for collections, retaining all write-off and recovery information.
Portfolio Financing
IFSLeaseWorks includes capabilities to track and account for securitizations, single-investor purchases, multi-investor participations and tracking for loans collateralized by portfolio leases and loans. Sold leases and loans are serviced the same as owned transactions without any process disruption. Sold or owned transactions that are not being serviced can be "shadowed", allowing the lessor/lender to track delinquency and end-of-term residuals.
Documentation
IFSLeaseWorks rules-based documentation system automatically produces documentation packages. An unlimited number of user-defined Word templates can be included in documentation packages which can edited, archived in the document management system, and transmitted through email, secure portal or DocuSign.
Business Intelligence
The Business Intelligence portal is built over a data-warehouse of historical data which is populated daily. Historical data provides for historical reporting and trend analysis that traditional reporting can't provide. The portal is comprised of dashboards for origination, collections, portfolio, and asset data. Develop your own KPIs on custom dashboards and write custom reports. Built in capabilities include static loss analysis, vendor/broker performance and origination performance. Data is presented using interactive graphics, allowing users to drill into analysis down to the contract level. Click here to learn more about IFSLeaseWorks other reporting capabilities.
Credit
IFSLeaseWorks supports manual and automated credit processes for any transaction. Customizable score cards and credit algorithms fully automate the credit process using internal application data and data from external credit sources. IFSLeaseWorks credit capabilities includes up-to-the-minutes exposure by guarantor and customer, allowing credit officers to drill-into related data.
Vendor & Broker
The IFSLeaseWorks Vendor / Broker portal allows your origination partners to enter and track transactions from data entry through deal funding. Partners can price transactions, create amortization schedules and produce quotes prior to submitting a transaction for underwriting. The highly interactive portal allows partners to communicate with their sales and underwriting team as well as upload documents. Each vendor / broker can setup an unlimited number of users within their organization. Click here to learn more about IFSLeaseWorks' vendor / broker capabilities.
Customer
An unlimited number of unique application forms can be created using IFSLeaseWorks web services or by IFS development staff, allowing for separate lease/loan applications to meet a vendor or brokers' specific requirements or for in-house applications. Applications submitted using these forms are associated with a vendor / broker or in-house channel. Once submitted, each application enters your workflow and stakeholders are notified. IFSLeaseWorks also offers touch-free credit scoring, notification and documentation for a fully automated decisioning process. Click here to learn more about IFSLeaseWorks' web services and other extensibility capabilities.
Application
An unlimited number of unique application forms can be created using IFSLeaseWorks web services or by IFS development staff, allowing for separate lease/loan applications to meet a vendor or brokers' specific requirements or for in-house applications. Applications submitted using these forms are associated with a vendor / broker or in-house channel. Once submitted, each application enters your workflow and stakeholders are notified. IFSLeaseWorks also offers touch-free credit scoring, notification and documentation for a fully automated decisioning process. Click here to learn more about IFSLeaseWorks' web services and other extensibility capabilities.
Investor
The Investor / Funding Source Portal provides investors, participants and lenders access to portfolio reports and underlying lease/loan documents.