Who we worked with
A global commercial equipment manufacturer.
What the company needed
To respond quickly to promising new demands for leasing.
How we helped
We offered our expertise and a turnkey solution with our business-process-as-a-service (BPaaS) package. We set up leasing operations, infrastructure, and technology—and provided ongoing support so the company could act and profit fast.
What the company got
Leasing operations around the world up and running in just 90 days—and ground-floor entry into the fast-growing residential solar equipment market.
With the global economy returning to growth, the financial arm of a leading equipment manufacturer needed to act fast to grab fresh opportunities. That meant setting up new, cost-effective, end-to-end systems to accommodate growing demand for its leasing operations.
Challenge
Speed, scalability, savings
The company wanted to establish a globally scalable leasing operation—and it wanted it yesterday. What’s more, it needed an innovative operating model that would limit additional cost and capital expenditure.
Solution
Agile architecture that evolves with the company
We introduced a low-cost, variably priced BPaaS model capable of servicing operations quickly across the globe. We also shared initial investments with the client to support an emerging asset class: solar equipment. The partnership was rich. It involved deal booking, funding, servicing, billing, cash applications, collections, customer service, modifications, and lease terminations, as well as instituting an originations and servicing platform.
Applying 15 years of experience managing leasing and lending operations, the delivery team:
- Developed more efficient policies and procedures for lending operations
- Managed finance and accounting operations, including joint venture accounting, closing, reporting, and financial reconciliations
- Skillfully met the 90-day deadline
Impact
Ready-to-roll leasing, an exciting new market and value for money spent
The holistic BPaaS operating model (figure 1), deployed in just 90 days, resulted in 50% cost savings over alternative solutions. Another big plus: Genpact’s partnership sped the company’s entry into the fast-growing residential solar equipment market.
