LeaseWorks is with you through good times and bad
Our industry and our world are facing unprecedented times. As our airline and lessor customers navigate a way to ramp businesses back up, LeaseWorks products and services will help them do so with a technology-centric approach. Our response is centered around three ways in which customers can leverage LeaseWorks to chart a path forward using our products:
- Leverage collaboration capabilities
- Create new features to respond to new business challenges
- Highlight existing functionality that lets customers get more value as they start to adapt to new ways of working.
Collaboration between remote teams is core to the LeaseWorks value proposition. This allows users to not skip a beat as they find themselves in unfamiliar work conditions while keeping well at home. The messaging and reporting capabilities built into all products keep teams aligned in the best and worst of times
Innovation and agile development have always been at the heart of how LeaseWorks operates. We are moving quickly to address new industry needs that have been heightened by the pandemic. These include managing rent deferrals and restructurings, identifying and visualizing asset risk, and coordinating repossessions. Our aim is that these new features, along with the powerful functionality that’s been there all along, will help you manage through the current disruptions in work collaboration and market dynamics.
Existing features that already exist in our products can support customers through this difficult time. We highlight some below.
AerisMATCH makes working from home feel like being in the office
AerisMATCH, our customer relationship management and deal management product, is built especially for the needs of commercial teams at aircraft lessors. The product was designed to help global commercial teams to stay coordinated on information and keeping management teams in the know.
Keep the team aligned on deals
Centralized deal management in AerisMATCH keeps your team on the same page and helps move deals forward no matter where they find themselves working. The deal records capture the commercial terms specific to that deal type, record all revisions of the offers and counteroffers, and keep your entire team abreast of deal progress.
Real-time notifications keep your process moving
Deals in LeaseWorks support team notifications at any stage in your process. And individual subscriptions to reports and dashboards let team members have relevant data sent to them exactly when they may need them. No need to request updates. When info is centralized, there is no siloed data, and it can come to you in exactly the form you want at exactly the time you want it.
Record and manage rent deferral and payment relief requests
This brand-new feature has been added to address the sudden large jump in deferral requests. Structured as a deal type, you can record and review the lessee’s request, evaluate them in the context of your overall relationship with the lessee, and manage the approval process, all from a single page within the system.
360 degree view of the customer
For lessors, customer information is the heart of all activities. With LeaseeWorks, teams all over the world can stay coordinated on fleet analytics, recent meeting notes, current leases, delinquencies, rent deferral requests, recent deals, and any other customer information all in one central place that can be accessed from a computer or mobile device. Interaction logs —a standard AerisMATCH feature—give you instant visibility into the latest conversations your team members are having with your airline customers and trading partners. Timestamps let you know who said what and when. And integrated follow-up actions show up instantly on an individual’s task list as well as overview reports. This lets everyone working for home stay in lockstep regarding open action items, deal activity, and account status.
And integrated aviation news feed keeps everyone informed
Keeping up with the market news is more important than ever. LeaseWorks lets you take your feed of aviation-related news and puts it right next to your key data such as deals you’re working on, the assets you have available, or the historical business you’ve done with each of your accounts. This context afforded by a 360° view makes your critical decisions that much easier.
The insight of market intelligence helps inform your decisions
If you’ve already been capturing market intelligence, then you’ll have great insight into where your customers are leasing their aviation assets and for how much. You’ll be able to determine which assets have the most price pressure and which provide the greatest opportunities in these unusual times. If not, this might be a great time to retrain your team on where and how to enter market intel into LeaseWorks, helping you make more informed pricing and deal decisions.
AerisASSET keeps track of your assets so you (almost) don’t have to
Our AerisASSET product is tailor-made to help you manage your leased aviation assets. It’s built with an awareness of the complexities of aircraft and their assemblies and provides detailed financial management of related utilization payments and notional accounts, cash flow forecasts, and end-of-lease fees. These six features in AerisASSET are helping our customers manage through this tough moment in the market.
Knowing exactly where your assets are right now keeps your decision making nimble
The AerisASSET Location feature lets you track where your aircraft assets are stored. In addition to keeping you in the know about where your asset is right now, you’ll gain insight into the current operations of your customers, allowing you to identify trouble spots early.
Maintenance events forecast lets you anticipate expenses in coming months
With changing usage, the timing of many maintenance events will change. Some airlines may use downtime as an opportunity to put certain assets into maintenance a bit early, causing maintenance expense claims to come in earlier than expected. Conversely, idle aircraft with minimal or no utilization may defer maintenance, avoiding thresholds for flight cycles and flight hours. And maintenance reserves deferral requests may also affect notional account balances. LeaseWorks lets you quickly update your expected maintenance date forecasts for maximum insight.
Utilization monitoring gives you early insight into assets-at-risk
Identify assets most in danger of early returns or defaults early. Start soft marketing placements or seeking trading partners even before the asset is returned. With LeaseWorks, you can view underutilized and parked assets per operator, identifying risks early and giving you more time to find operators who might need these assets.
Easy cash flow forecast updates let you quickly understand the new normal
Update your expectations for the cash flow and make rapid decisions on how to restructure your existing leases. With rent deferral requests and early returns, your cash flow forecasts will definitely be impacted. LeaseWorks lets you update usage information, lease terms, maintenance reserve account balances, and other variables, then update cash flows with the click of a button.
Real-time spec sheet updates speed replacement of assets
AerisASSET lets you keep your spec sheets updated in real time, incorporating the latest utilization and maintenance events from the current operator. This helps you remarket the asset easier. If you suddenly find yourself receiving an asset on early return and want to find the best likelihood of getting it placed, your up-to-the-minute spec sheets will let you hit the ground running on a new placement.
Technical audits for a mobility-restricted world
With travel restricted and interpersonal contact discouraged, you may want to shift to remote audit solutions. LW lets you see your on-site asset inspections plan and adjust accordingly. You can defer inspections, change to remote solutions, or plan for socially distanced on-site inspections. Capture all the changes to your plan in LeaseWorks and update as necessary.