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EquipmentEngine Unveils Second Round of Innovations at ELFA Conference

April 02, 2012, 07:30 AM
Filed Under: Industry News

EquipmentEngine Financial Services Company, LLC  unveiled another set of innovations today at the Equipment Leasing & Finance Association’s (ELFA) annual Equipment Management conference. These new innovations come as the second part of a bold, multi-phase plan to “modernize  an industry.”

“Candidly, our industry lacks innovation.  Business leaders running third-party commercial portfolio services companies in general and asset management companies in particular need to step up to the plate with big and audacious plans to create value for their clients,” said Richard Henderson, President of EquipmentEngine Financial Services Company, LLC.

“It’s quite telling that the innovation EquipmentEngine™ has offered to the equipment leasing and finance industry so far has appeared to many as groundbreaking. This is indicative of an industry starving for change,” Henderson

Conference attendees today learned the results of another year’s worth of investment and innovation at EquipmentEngine™. For example, EquipmentEngine™ has successfully launched the EquipmentEngine Marketplace™ which is generating over 3 million page views per year and is growing fast.

Cullen Philips, President of Corridor Rentals & Sales, Inc. noted that working with EquipmentEngine™ is “simple and cost effective” and praised the EquipmentEngine™ staff for its “high level of professionalism and attention to [his] needs.”

Additionally, EquipmentEngine™ revealed how they have unlocked hidden value in the equipment recovery supply chain via their LEAN Six Sigma inspired EEFSCo Logistics Model™ which has been adopted by numerous name-brand industry leaders such as IronPlanet, Inc. and AssetNation, Inc. as well as close to 100 creditors with a national lending footprint.

“As the Manager of Shared Services for a company involved in the disposition of assets in: Fleet Vehicles, Industrial Equipment, Energy, Finance and Insurance, we must be able to provide our customers with a wide variety of services. EquipmentEngine™ is the perfect partner, providing a full-service solution,” said James Downing, Manager of Shared Services at AssetNation, Inc.

Finally, EquipmentEngine™ has made available many free tools and resources for credit, collections, risk and asset management professionals in the equipment leasing and finance industry. “EquipmentEngine has created an top-notch web site that not only serves the needs of its customers, but also the informational needs of the equipment finance industry,” said Michael Toglia, Publisher of Equipment Finance Advisor, a popular and innovative destination site for equipment finance professionals.

Henderson concluded, “We started with a mission to either add meaningful value or go home. We’ve executed on our mission to innovate and create value by leveraging LEAN Six Sigma protocols,  investing heavily in marketing and technology, and hiring a truly fantastic team of legal, recovery, and logistics professionals to provide the ‘substance’ behind our unique approach.”

About EquipmentEngine Financial Services Company, LLC

EquipmentEngine™ is a full-service asset management and third-party portfolio servicing company founded in early 2010 with a straightforward mission: bring dramatic improvements to the quality, pricing, and flexibility of third-party portfolio services available to equipment leasing and finance companies by changing the model. Our unique platform leverages the highly liquid and powerful EquipmentEngine Marketplace™, our LEAN Six Sigma inspired EEFSCo Logistics Model™ that radically reduces repossession, transportation, and storage costs, and our feverish commitment to our Experience “WOW!” Everyday™ client-centric approach to managed services.

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