A Competitive Analysis of Asset Leasing Market and How Companies Are Expanding Their Reach

Posted by Global Market
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Dec 22, 2021
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Asset Leasing Software

In this era of digitalization, asset leasing software has become the cornerstone of asset finance business accomplishment. The leasing and purchasing of assets such as machinery, property, etc are important to a business model. The company’s financial stance plays an integral role in this tactical decision. Strategic asset leasing helps commercial organizations of all types and sizes access the assets they need to conduct their enterprises.

COVID-19 has wreaked havoc on corporations and organizations, as well as people’s personal lives. Due to the covid interruption, demand for capital equipment, automobiles, software, and other items has slowed down. As a result, during a depression, leasing equipment, software, vehicles, and other items should be the way to go. Leasing allows one to structure payments so that the cash flows generated by the asset can be used to pay for the rentals associated with the equipment. This is likely to boost the propensity to finance through leasing. Therefore, certain factors are expected to accelerate the market demand for strategic asset leasing software.

Major Players in the Asset Leasing Software Market

Key providers of asset leasing software are focused on the development of cost-effective and compact lease management software to attract more customers. For instance, in 2019, RealPage, Inc., a significant provider of real estate software and data analytics, has added Identity Verification (IDV) to its lease, payment, and screening solutions. RealPage IDV is the first comprehensive solution in the industry to prevent fraud at various touchpoints across the leasing and payment processes, saving property managers approximately USD 30 per unit per year. Navitas Capital, a real estate technology solution provider, and innovation venture capital firm has invested USD 6.5 million in artificial intelligence-driven leasing agent software that currently improves leasing processes for above 250,000 multifamily complexes in 2020.

In addition, competitors in the asset leasing software market are focused on inorganic growth tactics such as strategic alliances and mergers and acquisitions with technology partners to expand their capabilities as well as market reach. Lease Query LLC, a purpose-built lease accounting software provider, partnered with Microsoft Corporation in January 2021 to simplify difficult lease accounting compliance and drive customers through their unique digital transformation plans. Oracle released a new version to Oracle E-Business Suite in February 2019 that includes support for the ASC842 and IFRS16 accounting rules revisions for equipment leaseholders. Oracle Property Manager will receive an update to reflect these accounting standards changes for equipment renters in the form of consolidated patch sets.

Every business is unique, and in making a decision, they should consider their unique circumstances. For some firms, paying for a license per user is the best solution. Others may prefer the SaaS approach, which is becoming increasingly popular these days. Finally, a perpetual, lifelong license is available for purchase.

Global Market Database is your one-source destination for all of your market research needs. It covers the market Trends of Asset Leasing software. Login to the global market database and access a 10-year market forecast, regional market forecast and top 20 country market analysis for the same. Register now and access 10 year Global market forecast data for 5 markets free.

Read the full blog here: - www.globalmarketdatabase.com/how-asset-leasing-software-helps-a-business-owner

 

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