Paperless Transactions Study Available Soon
Posted 03/19/07
The study, Paperless Transactions: The Competitive Edge will be available soon for download from the Foundation online store. The report provides an understanding of how to take advantage of the benefits, challenges and future of a paperless business process. The market’s reaction to paperless transactions, from the rating agencies to investors, also are explored. Additionally, the legal ramifications are discussed in-depth from enforceability to perfection of documents.
“The study is very comprehensive,” said Robert Rinaldi, National City Commercial Capital, LLC who was part of the study’s management group. “The report basically provides a roadmap for the industry for what it would take to go paperless.”
Madelyn Law of Dell Financial Services, who has been involved in leading paperless transactions in her company, said “Because paperless transactions and technology are being used in other areas of the financial service industry, it is important for this industry to consider if we should make this platform available for its customers. This study helps financial service companies evaluate what is involved and if it’s a platform they want to make available to their customers going forward.”
Rinaldi noted that the equipment leasing and finance industry is unusual in that it is equal parts legal, finance, accounting, tax, sales disciplines and must work in concert for the business to go well. Due to this complexity, the report addresses most disciplines found in a financing company with sections tailored for their unique perspective.
“This study lays a trail of breadcrumbs for each discipline to follow -- what they need to be thinking about, the current state of paperless as it relates to each of those disciplines, where it is going, and the regulatory hurdles that have been leapt and the precedents that are in place.”
Numerous case studies also are included in the report and should help companies understand what was is involved, added Rinaldi.
Law summed up, “This paper will help leasing and finance companies see what is available and make some informed decisions.”
Sponsored by McCue Systems and produced by Buckley Kolar LLP, the paperless transaction study will be available at no charge to donors and $200 for non-donors.
Sites of Reference:
http://www.leasefoundation.org/grant/rsrchdesc/Paperless.htm
CONTACT:
Lisa A. Levine, CAE
Equipment Leasing & Finance Foundation
Phone Number: 703-527-8655
Fax Number: 703-465-7488
E-mail: llevine@elfaonline.org
