Last year was a successful one for VIP Apps Consulting, in which we continued in our successful activity supporting businesses within the leasing industry. With a recovering but fragile worldwide economy, alongside fluctuations in commodity prices, the industry saw some interesting developments that will have long term consequences in 2016 and beyond.
Leasing Industry Digital Disruption and Innovation
The continued digitisation of the industry has lead to innovation and disruption within the industry. FinTech was one of the buzz terms of 2015, and we are likely to see more start-ups and innovations having practical implications on the industry in the year ahead.
We have seen disruption in data analysis and management, the use of the cloud for infrastructure and in analysing risk.
Analysing the opportunities to adopt disruptive technologies, and implementing them within the organisation in a cost effective and strategic way, will be an ongoing challenge for senior management within the leasing industry.
Find out more on how VIP Apps can help your business to manage and implement digital disruption and innovation – http://www.vipappsconsulting.com/management-consulting
A New Leasing Standard
The adoption of the new leasing standards with an expected implementation date of 2019, we can see the adoption of the new standards impact business planning and operations moving forwards.
See our earlier article on this and the impact it will have on the industry here
2015 also saw a significant move by General Electric to continue its exit from financial services. This represents a large industry shift with one of the industry’s biggest players consolidating its business and moving away from commercial leasing.
This decision made in April saw GE decide to sell its US commercial leasing portfolio.
Later in the year, GE completed the sell-off of $32bn
of its loans and leases portfolio to Wells Fargo, followed up by announcements that they have also sold their Australian and New Zealand commercial leasing portfolio to Bain Capital.