Delivering a Flexible Financing System to Service Every Customer
Empowering a Large Material Handling Company
Faced with a limiting SAP-based finance solution, a large, global material handling company based in Europe turned to FIS® to solve its issues. The company is based in Europe with factories in three countries where more than 95% of the trucks sold on the continent are produced. That allows the company to offer a wide range of warehouse equipment and counterbalanced-forklift trucks.
The company supports and collaborates with customers in more than 20 countries, so it needed a flexible financing system to help it service every customer in a simple, efficient and local way. They initiated an internal program to harmonize and automate business processes and to upgrade the current ERP-system to SAP S/4HANA. Because SAP leasing can´t meet their leasing requirements (especially a leasing curve calculator), the customer decided to look for a leasing solution outside of SAP that has the required capabilities.
By partnering with FIS, the company was able to use the FIS Asset Finance Solution to expand their finance solutions. The capabilities of the solution best met the customer needs and requirements stated. The accuracy of the content of the FIS RFP response as well as the cost for the investment was in line with the client budget.
FIS Asset Finance is an advanced platform that enables customers to promote growth by giving them ownership of the process and the flexibility that today’s ever-changing asset finance market requires while providing superior customer service and best business practices. Trusted APIs integrate seamlessly with not only existing systems but also new digital partners and third-party solutions.
Easily incorporate business rules and extend the application’s code without relying on your technology vendor.
At a Glance
OBJECTIVETo meet its goals, the client desired a leasing solution outside of the limiting SAP environment.
RESULTSBy partnering with FIS, the company was able to use the FIS Asset Finance Solution to expand their finance solutions. The capabilities of the solution best met the customer needs and requirements stated.
The client has a function called Long Term Rental (LTR) that manages the customer-facing rental agreements. The client Commercial Finance AB is the entity within the client group governing the customer financing business. The client has around 150,000 active financing contracts of equipment sold by the client group. The main portion of the financing contracts are on LTR, which is a leasing contract including service, but is also a portion of pure financial leases, loans and other financial solutions.