The Equipment Finance industry’s benchmark for insights into trends, strategy and spending around operations and technology.
Introduction
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.
Key Findings
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
Read the full report
Download the full report here. To learn more about trends in technology and operations and the adoption of these trends, contact us at banking@capgemini.com.
