hardware and software

The leasing industry is yet to significantly harness the powers of the Internet. Despite the hype, the web enabling of the leasing process has been sporadic at best. While the industry has already taken to the Internet's obvious convenience for credit scoring and front-end application processing, a larger and perhaps a more significant impact on productivity has yet to be realized. The advent of the lease life-cycle management model can realize this untapped potential for productivity and, if implemented well, can even directly enhance profitability. Online lease management and accounting software certainly has the makings of a paradigm shift in the lessor's approach to the lease accounting software. More specifically, it holds enough promise to replace the client/server model just as the client/server model itself dethroned the main frame.
The Benefits of an Internet Model based Lease Management system
To implement, the Internet model is much simpler than its client/server based counterpart, demanding nothing more than a secure Internet server on which the lease accounting software and database reside. Each of the limitless number of computers accessing the server can run any operating system, be it Apple Macintosh or Windows 2000, with nothing more than access to the Internet. By inference, the type of Network and the leasing software's compatibility to it no longer matters. Even the physical implementation of the network itself, in laying down the wiring and connections, becomes redundant when any authorized computer belonging to any authorized user, is part of the virtual network. In this respect, especially for lessors with multiple operations in different locations, the model used in the lease management software is a boon that takes no more significant effort to tie two computers into its virtual network as it does 2,000. Even training employees to use the lease accounting software becomes easy when there is one standard program worldwide. This immediate scalability and operating-system/network-independence of the leasing software model makes it possible for lessors of all sizes to experience IT benefits unknown in the client/server world.
It would seem that today's nascent Internet technology compromises the functional power of the client/server model in their leasing software; complex algorithms required to amortize income or calculate yields appear hard or even impossible to replicate on a browser. Fortunately, however, with the growing sophistication of Internet developmental platforms such as Microsoft's Active Server Pages, Internet applications run a tight race with client/server technologies. The Internet based lease accounting software enables yields and depreciation schedules to be calculated with the same click of a button. The lease management software facilitates reports to be sorted, filtered and queried to obtai any conceivable information available in the database. Income, IDC and residual can be accrued, blended and separated, just like they are in client/server systems.
Not surprisingly, even technology as complex as an Enterprise Resource Planning system, simultaneously used for solutions from global car-manufacturing to domestic chemical-production, runs on Internet-based applications today similar to the internet based lease accounting software. Leading ERP vendors including SAP, Oracle Financials and PeopleSoft, for instance, have tried and tested success stories of highly versatile and complex system that are browser based. "Lease Management Software", says Jay Mehra, COO of Odessa Technologies, Inc., "though sophisticated in its own right, can quite easily be implemented on the Internet." Despite the complexity, therefore, the functional powers of traditional models are easily captured in Internet-based applications.
Functionality of the Internet model and the Lease Management Software
While functionally the Internet application is interchangeable, its differentiating quality lies in its approach to data. By the very nature of their technology, client/server systems typically just crunch numbers. A good Internet based application, on the other hand, maximizes the value of that data, in addition to maintaining it. This translates into a direct value-add for the lessor's operational efficiency. Sales staff can, for instance, be allowed to access the leasing software from anywhere they can connect to the Internet. During negotiations, they can obtain historic information about the lessee to make informed decisions for new business opportunities through the lease management software. The traditional one-way pipelines of data delivery thus become forums for information exchange.
Equally important, as shown by the diagram above, the new channels of Internet-driven communication can now enhance the lessor's external relationships. Odessa Technologies, developer of a wholly web-based Lease management and accounting software, uses a series of independent web sites that ties the lessor with its various business partners. Through their lessee web site, lessees can get online help, access important account information, download invoices and even make secure Net payments enabled by the lease management software. Moreover, by leveraging the critical data residing within the Internet application, the lessor can even customize business promotions based on the individual lessee logging onto the system. Far from being just a tool that manages a part of the leasing business, lease management software thus becomes a way of conducting and even marketing the business. Through the Internet model the leasing software is able to bring about new sources of productivity, both direct and implied, are thus created from business relationships that are fuelled by information flow.
LeaseWave© - A new Wave in Lease Accounting Software
While the advantages of Internet-based applications are obvious, there is a conspicuous absence of such technology in the leasing industry. It is this gap between the ideal technology and what is typically available that Odessa Technologies, Inc. is fulfilling. With the release of LeaseWave©, a technology built entirely on Microsoft's Internet platforms, Odessa brings the lease management process online. Through LeaseWave© and technological collaborations with companies such as CapitalStream and Ivory Consulting, the company offers a comprehensive solution that is entirely Internet based by way of the lease accounting software. LeaseWave©, at its core, provides for complete asset management and lease accounting functionality, allowing the lessor to efficiently manage any number of lease portfolios in the leasing software. Beyond this core, LeaseWave© provides a series of interactive web sites that connects the lessor with business partners including lessees, funding sources, auctioneers and banks via the lease management software. Each line of communication in the lease software employs secured socket layers for complete security and is even e-commerce enabled, allowing for secure online ACH and credit card payments.
It is common knowledge that front-end systems, such as CapitalStream's CapitalStream - FinanceCenterTM are already leveraging the powers of the Internet. The efficiencies that they have realized, however, represent only the beginnings of a greater change. Still to be tapped are the efficiencies of large data-rich back-end processes. The web-enabling of lease management and accounting software is a step towards this efficiency-realization. As Internet technology seeps into the back-end, the leasing industry stands to experience a rare paradigm shift: one where the technology drives the process rather than being driven by it.

Bios
Madhu Natarajan, CEO Odessa Technologies, Inc.
Madhu Natarajan became the CEO of Odessa Technologies. He has consulted for various companies including Caterpillar, Inc and Crowe Chizek, LLP; Madhu brings with him an extensive research based leasing background with 5 years of leasing software experience. He holds a Bachelor's degree in Computer Science and Business Administration from Monmouth College, Monmouth, IL; Madhu graduated Magna Cum Laude. fax copy to 610-293-9903

Successful online business can't be led without email marketing. Many people know that it is very important to have a web site but having a web site is only one step in creating successful online presence. You have to stay in touch with your clients and prospects. You need to have a two way communication with your clients and prospects and best way to do this is to have an email newsletter. To send emails to your customer you need the right email marketing software.
Choosing your email marketing software is one of the most important steps you have to take in e-business. What are those necessary steps in choosing email marketing software?
Free or fee-based
The first thing you will have to decide in choosing software for your email campaigns will be whether you want to use free or fee based software. Some people may say: "There is much free software on the Internet. Why would I pay for email marketing software?" This is because some people still don't have a habit to buy things on the Internet, especially non-tangible items such are software and services. Many people still don't realize the power of email marketing so they think that can be satisfied with a free service.
One of the most famous contemporary economists, a Nobel Prize winner Mr. Milton Friedman said that there is no such thing like free launch. And there is another statement that says "You get what you pay for". I usually agree with these two statements. These have been proven on many examples, especially on the Internet.
You can choose to use free software for email marketing but you will be limited for some more advanced options. Some big portals offer free services for creating groups. This is OK, but in this case you will send your email messages without many important features like personalization, email tracking, sending SMS, using CSV files etc. I don't have to mention that many "free" email marketing software providers will include their ads in your email newsletter. I guess that you don't want that in your business email communication.
Some other free software like the free version of Group Mail will have limitation on the number of subscribers per one session. In this case you will be able to send your email newsletter to 100 subscribers at once and in paid version to unlimited number of subscribers and create unlimited number of lists.
It is recommended that you use fee-based email marketing software for your business email campaigns. However, you always have to look for a provider who offers a free trial, as well.
Important features
You have to check if your email service provider offers these several important features.
1) Personalization - personalization is one of the most important things that email marketing software has to provide. With good personalization you will have better open rates and click-through rates. Some more advanced email marketing software like Group Mail paid version offers if-then personalization for users who want to get the maximum personalization.
2) Monitoring - email marketing is popular and useful because results can be measured very effectively. You have to ask your email service provider if their product offers ability for detailed reports for open rates, click-through rates, deliverability...If their main product doesn't offer that it is important that they offer additional service that can be easily integrated with their main product.
3) Scalability - one of the main features of modern software is scalability. At this moment you might need software that will be able to send 1,000 emails at once but in 3 years your membership base can be 5,000. Will your software be able to handle that?
4) Creating HTML newsletters - HTML newsletters have better response rates than email newsletters in plain-text format so this is also another thing you have to consider in choosing your email marketing software. Without sending your email newsletter in HTML you won't be able to do email tracking.
5) Integration with existing applications and databases - your email marketing software has to offer you ability to import data from existing applications and databases like SQL Server, Oracle, MySQL, Access, FoxPro and Excel. Also, it is very useful that it can be integrated with popular email clients like MS Outlook.
6) International Character Support - Online businesses have to have a global focus so it is useful that email marketing software provides support for International Characters.
7) Plug-ins and updates - it is very important that the email service provider constantly works on creating useful plug-ins and updates in order to make your work easier and more effective.
8) Technical support -If you are an average Internet user without technical knowledge you will probably want to get support for your software. How good is your email service provider when it comes to technical support?
Desktop email software vs. Hosted ASP
Now when you know do you want free or fee-based software and what to look in your email marketing software you have to decide do you want to have desktop email marketing software or so called Hosted ASP. Both types have limitations and advantages. You have to choose the best option for you.
Desktop email software like Group Mail Plus, one of the leading desktop email marketing software, has several very big advantages. The most important is that details of your subscribers are kept private and secure on your own computer. Dot com crash is not so far behind us. Imagine that you have several thousand clients and use web based service from a company that will later go out of business. You can only imagine how that could affect your business and credibility! With Group Mail Plus you can manage an unlimited number of groups with unlimited number of recipients in each. You will have a larger initial investment than with Hosted ASP which charge a monthly fee, but you will a full control of your email campaigns and after some time of using your software you will repay it.
With Hosted ASP you will usually have a lower initial investment. You don't have to buy hardware and software. However, price is usually determined by the number of emails you send so you will pay more how your membership base gets bigger so this option will be much more expensive than a desktop email marketing software option in the long run.
You can see that choosing the right email marketing software is very important. You have to bear in mind that the biggest investment is one that it is paid - twice. So, choose your email marketing software wisely.

Dejan Bizinger is a Contributing Editor for Infacta. Infacta is email messaging services company providing powerful, yet easy-to-use award-winning Group Mail, software for sending highly-personalized email messages and Group Metrics, software for email tracking. For more information visit: http://www.infacta.com