Articles

There has been tremendous growth in vehicle and equipment leasing. Allied Market
Research reported the global equipment leasing market value as $1.2 trillion in 2022,
projected to reach $3.1 trillion by 2032, growing at a compound annual growth rate (CAGR)
of 9.7%. Asset rental finance makes high-value equipment and vehicles available to users
without capital outlay. The focus changes towards managing these assets efficiently.

There has been tremendous growth in vehicle and equipment leasing. Allied Market
Research reported the global equipment leasing market value as $1.2 trillion in 2022,
projected to reach $3.1 trillion by 2032, growing at a compound annual growth rate (CAGR)
of 9.7%. Asset rental finance makes high-value equipment and vehicles available to users
without capital outlay. The focus changes towards managing these assets efficiently.

There has been tremendous growth in vehicle and equipment leasing. Allied Market
Research reported the global equipment leasing market value as $1.2 trillion in 2022,
projected to reach $3.1 trillion by 2032, growing at a compound annual growth rate (CAGR)
of 9.7%. Asset rental finance makes high-value equipment and vehicles available to users
without capital outlay. The focus changes towards managing these assets efficiently.

Most businesses require equipment and vehicles to run their core operations. To procure these assets without incurring capital expenditure is a tool organizations adopt. Lessors are providing equipment and vehicles on lease programs to address this need.
Financial and regulatory compliance is increasing for both lessors and lessees. New accounting standards IFRS 16 and ASC 842, have made compliance mandatory regarding recognition on the balance sheet.

The process of disbursements and payments, or payment processing, is the foundation of leasing. Payment processing his evolved from manual activities to sophisticated automation. This integrates data and systems in real time. This is diving accuracy, efficiency, and transparency.

Lease administration is sometimes also called lease management. It covers
the process from the inception of the lease through the lease lifecycle. From
recording the lease, billing, collecting dues, to termination, and return of
assets.

Lease administration is sometimes also called lease management. It covers
the process from the inception of the lease through the lease lifecycle. From
recording the lease, billing, collecting dues, to termination, and return of
assets.

Operational challenges are increasing in the ever-evolving work of vehicle and equipment leasing. Compliance and automation in areas such as accounting for new standards IFRS 16 and ASC842, calculating and updating depreciation schedules, income, and payments require lessors to

Introduction
Collections are a critical part of every leasing business. It starts with sending timely invoices to your customers. Spreadsheets can help with simple leases. Contract modifications are becoming more complex. Keeping them updated on spreadsheets is very difficult.