Discovered billing errors – received a refund of over half a million

It's easy to assume everything is in order – but how sure can you really be? When a new customer started using Leasify, an error was discovered in one of their contracts, resulting in a refund of over half a million kronor (around €45,000). Read on to see how Leasify can provide you with the same security and control.

Hidden issues in contracts? Here's how Leasify helps you find them

Sometimes, contracts from financial institutions don’t quite add up. One of our new customers discovered this during the onboarding process with Leasify. As we reviewed their contracts together, a clear pattern emerged: while most agreements had a reasonable interest rate of around 4–5%, one contract stood out with a staggering 19% rate.

With the analyses and reports provided by our service, the customer was not only able to identify this irregular contract but also use the information to renegotiate a market-aligned interest rate. Furthermore, the review revealed that the bank had been invoicing incorrect amounts for an entire year. The result? A refund of over 500,000 kronor (around €45,000) and a new level of control over their leasing agreements.

How Leasify detects discrepancies

During the onboarding process, our customers gather all their leasing contract data. It is often at this stage that patterns emerge, and discrepancies can be identified. Before onboarding with Leasify, pinpointing errors can be challenging, but once all data is collected and reports are in place, differences compared to previous accounting records become much clearer.

– We often see this as an eye-opener for our customers. With access to detailed analyses and contract validation, they can start digging deeper into the numbers. Many then discover errors in their previous accounting, such as incorrect interest rates, incomplete base data, or other parameters that impact the results, says Theodor Röhr, Onboarding Manager at Leasify.

This is just one of many examples of how Leasify makes a difference. By consolidating all data and providing full control over leasing agreements, our customers can identify discrepancies, avoid unnecessary costs, and ensure compliance with applicable regulations. Want to learn more about how Leasify could help you and your company? Contact us, and we’ll be happy to tell you more.