BALTIMORE and OMAHA, NE. — LeaseTeam, Inc., the premier solution provider in the equipment leasing and finance marketplace, alongside eOriginal, Inc., the digital transaction experts, today announced that OnePlace Capital, an equipment financing company servicing U.S. medical, dental and veterinary practitioners, has achieved improved transaction closing rates and an increase in repeat business with the adoption of ASPIRETM v5.
ASPIRE offers a seamless integration with eOriginal, extending post-signature digital transaction functionality with their eAsset® Management Platform. OnePlace Capital’s successful portfolio conversion and migration to LeaseTeam’s ASPIRE v5 lease and loan management platform enabled the company to utilize dynamic signature blocks from eOriginal’s SmartSign® Services. The new functionality allows eOriginal eSignature tags to be placed in a financial contract within ASPIRE that contains ASPIRE document tags, ultimately easing the document template setup process for OnePlace Capital.
The joint solution from eOriginal and LeaseTeam has already resulted in $12 million more in business annually and a 30 percent increase in repeat business for OnePlace Capital. Vendor and customer relations have improved due to ease of use. Plus, receiving documents electronically has eliminated the quality of data issue and drastically reduced the documentation cycle time associated with a business footprint that is nationwide.
“We were previously experiencing a 65 percent document sign rate running ASPIRE v4. Since migrating to ASPIRE v5 with eOriginal’s dynamic signature blocks, we continue to push toward a sign rate of 95 percent,” said Scott Stewart, president of OnePlace Capital. “We have an aggressive growth plan in place, including adding new team members, new products, and doubling our portfolio in the coming years. This functionality enables us to not only process transactions faster, but also grow our portfolio faster and with fewer people. Our team has greater efficiency and accuracy as a result of this joint solution.”
eOriginal’s SmartSign® Services work in conjunction with the eAsset Management Platform for OnePlace Capital, which allows the business to manage and protect their financial eAsset documents throughout their lifecycle with compliant securitization within LeaseTeam’s ASPIRE. The eAsset document repository allows businesses to tightly control and track access, status changes and retention policies of their financial documents, providing the highest levels of protection and compliance through the use of digital tamper seals and the most detailed audit trail and reporting functionalities available in the marketplace.
“While the world is digitally transforming, the adoption of the equipment lease and finance industry has been fairly stagnant,” said Stephen Bisbee, president at eOriginal. “OnePlace Capital’s pioneering adoption exemplifies why it is essential for this industry to transform their existing, archaic paper-filled processes. The most successful companies of 2016 will not only be digitally-enabled, but will have a robust end-to-end fully digital solution that is equipped to securitize their financial assets and free their capital.”
“We’ve felt for a long time that the industry is excited about what digital signature capabilities can offer, but there is a level of hesitance to be the first company to apply it,” said Jeff Van Slyke, executive vice president at LeaseTeam. “OnePlace Capital is a successful study in how this proven technology can be implemented and really transform a business, and it will certainly be a springboard for widespread adoption of digital signatures in equipment finance.”
To learn more about OnePlace Capital’s Digital Transaction Management adoption, visit the company’s case study here: https://www.eoriginal.com/oneplace-capital-case-study.html.
About LeaseTeam, Inc.
LeaseTeam, Inc. is a market-leading software and business solutions company serving more than 250 financial organizations throughout North America and the United Kingdom. With more than 25 years of experience and expertise in the equipment finance and leasing industry, its innovative technologies continue to streamline lease and loan processing for users. LeaseTeam’s ASPIRE™, an end-to-end lease and loan management platform, allows businesses to stop talking about front- and back-end processes, and start talking about managing the total transaction lifecycle—from a single system. For more information about LeaseTeam or ASPIRE, call (402) 493-3445 or visit www.LeaseTeam.com.
About eOriginal, Inc.
Founded in 1996, eOriginal is the trusted expert in digital transaction management solutions, specializing in the post-execution management of financial asset documentation. eOriginal SmartSign® and eAsset® Management Services enable an end-to-end solution for fully electronic transactions that must be managed with the highest levels of security and compliance throughout their lifecycle. By treating every transaction as having assets that must be verifiably secure, legally compliant and enforceable, eOriginal provides its customers and partners with eCertainty®. For more information, please visit https://www.eoriginal.com. eOriginal®, eAsset®, eOriginal SmartSign® and eCertainty® are trademarks of eOriginal, Inc. and are registered in the United States or in other jurisdictions.