IT
Every company is at a different stage on their way to becoming digital competitors. Both customers and employees have increased digital expectations that are waiting to be met. As technology and expectations continue to change, it is vital for companies to be able to respond.
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We have entered the age of digitalization with no return in sight. Going digital is no longer a choice, it’s a necessity. In their recent presentation at the AACFB conference in Nashville, Tamarack’s Daniel Nelson and Leasepath’s Jeff Bilbrey dove into the realities of living in a digital finance economy.
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For many Lessors with teams operating across multiple time zones, it is critical to maximize system availability. This requires a holistic study of all aspects of system operations, but we have found the daily and monthly execution of batch processing like Nightly Job Stream (NJS) to be “low hanging fruit” to monitor and improve performance.
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Many commercial finance companies consider themselves “relationship businesses.” The leaders of these companies often see digital transformation as a potential threat to the foundational relationships of the business. Scott Nelson, Chief Digital Officer at Tamarack Technology, explains how digital can extend and strengthen relationships while providing scale to businesses when considered in the right context.
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Two Twin Cities-based companies that help banks and other entities manage their lease portfolios — IDS and Tamarack Technology — are teaming up to support the digital transformation of the equipment finance industry.
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Historically, we experienced the concept of real-time data in analog systems like driving a car and heating or cooling a house. But digital has changed the value of real-time data because it makes that data portable, accessible and more usable. Equipment finance in the days of analog – paper contracts and accounting spreadsheets – had little use for real-time data. But in a digital world, the value of real-time data is increasing and we must learn to take full advantage.
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