automation
Within months of the implementation of the artificial intelligence (AI) platform from Tamarack Technology, Inc., KLC Financial, Inc. has realized significant improvements in its operational efficiency. By implementing custom reporting using Tamarack’s Data Console business intelligence framework, the national equipment leasing and finance company has dramatically reduced the amount of time dedicated to completing the company’s complex monthly commission process.
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In a Q&A, Michael Baez of Leasepath, Diane Croessmann of The Alta Group, Scott Nelson of Tamarack Technology, Sean Scampton of Leasepath and William Verhelle of Innovation Finance USA give their take on why companies are hesitant to embrace new technology tools in the U.S. equipment finance marketplace.
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In a Q&A, Michael Baez of Leasepath, Diane Croessmann of The Alta Group, Scott Nelson of Tamarack Technology, Sean Scampton of Leasepath and William Verhelle of Innovation Finance USA give their take on why companies are hesitant to embrace new technology tools in the U.S. equipment finance marketplace.
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Automation has been a principal pursuit of business ever since Henry Ford implemented the first assembly line in 1913 and reduced the Model T assembly time from 12 hours to 93 minutes. Twenty-five years later, during World War II, increased demand for military equipment brought mechanization to production lines enabling higher speeds, fewer errors and more efficient use of raw materials.
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The fundamental role of empathy in innovation is not changing, but the tools we use to empathize with customers and employees are. Those who can learn and adapt in times of change will survive.
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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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