The equipment financing companies are utilizing various tech trends to revitalize the rental business. Adopting these innovative solutions has helped them stay competitive and widen profit margins.
According to SpendEdge, the global equipment finance market is poised to experience growth of more than $656 billion from 2020 to 2024 at a CAGR of over 3.41 percent.
A significant reason for this growth is a spate of technologies capable of delivering best-in-class solutions in the realm of equipment financing. Equipment financing companies are relying on big data analytics for real-time status monitoring of financial matters. The technology produces valuable insights, drives results, and creates a better experience for clients.
Artificial intelligence (AI) and automation are being leveraged to allow finance professionals to be more productive. With the support of AI, these professionals are able to deliver better outcomes and reduce costs and errors by streamlining operations.
Blockchain is yet another technology transforming the way data is stored, managed, and shared in equipment financing. It centralizes all information for easier access, providing a clear, real-time view of the equipment lifecycle.
This edition of Financial Services Review highlights the recent developments in the equipment financing arena and insights into how businesses are aligning with these trends to transform legacy practices.
We have curated thought leadership articles from industry experts, including the Director, Financial Planning and Analysis, Amplify Snack Brands, and the Finance Director - Finance Business Partner IT at AutoZone.
We also took a deep dive into the market trends to narrow down the list of companies delivering robust equipment financing solutions. Equipped with innovative technological capabilities, companies such as Lease Finance Partners and Blue Hill Lending help transform businesses at the cloverleaf of various disruptive technologies.
We hope this edition of Financial Services Review on equipment financing helps you build the partnership you and your organization need to foster an environment driven by efficient technology.
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