The Equipment Finance industry’s benchmark for insights into trends, strategy and spending around operations and technology.
We are proud to present the 2018/2019 Business Technology Performance Index (BTPI) in collaboration with the Equipment Leasing and Finance Association (ELFA). The BTPI provides insight into the technology trends and forward-looking initiatives that equipment finance companies anticipate, have undertaken, or recently completed in efforts to drive their firms into new markets and opportunities, and improve their operations.
Over 90% of respondents they are leveraging the cloud in the delivery of IT solutions
54% of respondents indicated that replacement of their back end (servicing) platform will be a key IT initiative they will undertake in the next 18 months
The current average life of front-end systems used by our respondents is 6.2 years while back-end systems are averaging 16.2 years
17% of respondents reported that workflow capabilities were a top feature either missing or highly deficient in front-end platforms
RPA and AI
85% of respondents indicated that they view themselves as “beginners” or “conservative” in the adoption of Robot Process Automation and Artificial Intelligence
A virtual workforce has helped some equipment finance organizations dramatically improved operational efficiency, in some case up to 70%
47% of respondents indicated they are either building capabilities around or are exploring potential uses of Artificial Intelligence
76% of respondents indicated a preference of either purchasing “best of breed” package based solutions from multiple service providers or an enterprise-wide packaged based solution from a single vendor