Soleras, a global leader in custom engineered sputtering equipment, has significantly enhanced their lease management efficiency through Leasify. By automating tasks and providing user-friendly features, Leasify has helped Soleras save valuable time and effortlessly handle the complexities of their leasing contracts.
Stefan Kranewitter, Group Controller at Soleras, sheds light on the challenges faced by the company in managing their extensive portfolio of leasing contracts and highlights the transformative impact of Leasify, a comprehensive lease management system.
Soleras, a market leader in large area sputter targets with locations in the USA, Belgium, and China, found itself grappling with an increasing number of leasing contracts, particularly company cars and bikes. With approximately 90 leasing contracts in Belgium alone, Soleras sought a solution that could efficiently handle the dynamic nature of their contracts.
Previously relying on a small in-house developed SQL database, the company soon realized that unforeseen circumstances, such as changes in car suppliers and the rising popularity of bike leasing, demanded a more robust and adaptable system. That’s when they discovered Leasify.
– We were looking for a system that could help us handle all the changes that happen in a leasing contract – and Leasify showed us that they had the solution to our challenges, says Stefan Kranewitter.
“It used to take half a working day”
One of the critical pain points for Soleras was the monthly accounting closures required under IFRS guidelines. Their in-house solution had become time-consuming and unstable due to the constant changes in leasing contracts. However, Leasify’s automated reporting and journal entry capabilities brought about a significant transformation.
– Before, my colleague had to manually prepare the journal entry into our system, which took up to half a working day. With Leasify, it’s just a matter of minutes. And the risk of making mistakes is much lower now when it is all automatic.
Improved overall efficiency
The collaboration between Soleras and Leasify has been seamless. Transferring data from their existing SQL database to Leasify’s system was straightforward, with Leasify providing excellent support throughout the process. Stefan Kranewitter commends the system’s user-friendly interface and highlights a very practical feature that allows users to undo actions, minimizing the need for external assistance.
– We use it for lease management download and upload in our ERP system on a monthly basis. Thanks to Leasify we have experienced significant time savings, reduced errors, and improved overall efficiency in lease management, Stefan Kranewitter adds.