With the world continuously changing at a faster and faster pace, it's important that your portfolio stay ahead of the potential risks that appear.
Additional reporting requirements is based at the asset level rather than category or sector meaning you need to be in control of your asset data to enable.
Asset depreciation changes more than ever before with new technology and new asset types becoming available .
Realtime data is increasingly important to understand the risk an asset poses to your profit/loss but also the potential opportunities.
With a push to remove certain assets (diesel, petrol) from circulation, addition taxation on assets on your book is becoming normal.
When looking at asset data, there is order in chaos but many funders haven't found it yet. Key insights on assets are found across multiple systems and the intelligence opportunities found by bringing them together are rarely realised.
Assets are looked at as categories and contract data which is putting many funders at a disadvantage. Additional taxation costs funders both effort in reporting and profit for being on the books whilst technology advancements means that the re-sale profit of an asset can be lost overnight. Contract profits are eroding from all angles and in some cases quietly becoming loss.
It's important that funders recognise that their portfolio can change now more in 1 year than it previously did in 5 and the key is having the data to ride the wave, not fight it.
Risk assessments limited to key processes only due to the time and cost associated. This can lead to the loss of profits.
Lack of data held against assets reduces companies abilities innovate products around how assets function through the life of an agreement.
Operational costs continue to rise when servicing current contracts and continue to rise to when adding new products.
Open Asset looks to collect, standardise and action your asset data from across your organisation and beyond. We power organisations to easily bring their asset data together and build new products or refine the ones they already have.
Automate key due diligence tasks when onboarding assets, enrich your data and then proactively monitor your portfolio using external data sources. Even send requests for further information from end users to understand an asset today. Each element provides additional benefit in obtaining an up to data assessment of your portfolio.
Action the data that your assets generate using our action engine with pre-built configurations if you require to trigger web-hooks of your choosing and integrate your data back to where it is required.
All from Day 1.
Bolt onto your application and contract systems to avoid cost heavy core system replacements while enabling innovation.
Create scale in your operations through features, configurations and automation.
No minimum contract required, only pay for what you use.
Out of the box functionality provides immediate benefit without the need for development.
Process efficiencies and integration management provide ongoing savings in vendor, data and operating costs.
Access more data without change as new data reports are continuously added to the Open Asset Report Marketplace.
faster onboarding using Smart Create and due diligence automation.
improvement in asset data quality across origination and in life changes
of assets required action following in life monitoring notification.
saved, based on a 10 FTE average saving using Open Assets technology.
*Statistics based on a Funder with 15,000 assets and a medium risk tolerance.
If you want to understand more on how the Open Assets platform will benefit your business, contact us using the button below or take a look at further look at some of our key resource.
Understand how our Insight product collects, standardises and actions your asset data
understand why having structured data not only gives you benefits today but also in the future.
