May 15, 2019
Leasepoint is a powerful and flexible tool for enhancing an aircraft lessor’s operations. With in-depth knowledge of the daily workings of a leasing platform, Zeevo Group can deliver a tailored, customer-focused and nimble approach to the Leasepoint system’s optimization.
“To make the most of the Leasepoint system, your data must be complete and accurate.”
Update active internal lessor companies, existing and potential customers (e.g., airlines), asset manufacturers, parts suppliers, insurance companies and brokers, and asset owner companies, including banks and other leasing companies. Company details are used by multiple system features, including lease agreement setup; payment schedule payer and beneficiary details; letters of credit; insurance; and recording various asset and contract history events.
Bank branch and bank account details
Bank account details are required for the invoicing and creating and allocating cash settlements. Each payment schedule requires a corresponding payment bank account to be defined. The selected account is used to output any required wire details on the invoice and to record the bank account detail when the customer makes a payment.
A non-business day, or holiday info, data subscription may be important to you if you need to track a large number of non-business days
Using the data available from the subscription, rent and late payment interest calculations are more accurate because holiday and other “non-business day” information is accurate and correct. Subscription services like Copp-Clark may issue periodic updates to non-business day data. The non-business day information calculates a payment schedule receivable due date based on the contract business convention parameter values.
Technical master data
At a minimum, it is recommended the airframe, engine, landing gear, and auxiliary power unit (APU) variant types are correct. The level of technical master data required depends on the level of asset detail you plan to track in the system. For example, tracking full engine disk sheets in the system will require the master parts list, parts catalog, and life limited parts (LLP) disk sheet component specifications to be up to date, including current LLP limits and replacement costs. Tracking only the most limiting part or limiting module can reduce the level of master parts data to maintain on an ongoing basis. Of course, just tracking the limiter may reduce your ability to prepare more robust maintenance forecasts and result in longer claim processing times. Whichever route your organization goes, there are some useful import interfaces you may be able to use to help with the initial setup of some of the required technical master data sets.
Airframe, engines, and APUs need to be set up as both assets and components
Defining the required component specifications needed to setup your fleet assets is crucial. Using component specifications is the most efficient way to setup aircraft assets, and its corresponding airframe, engine, landing gear, and APU components. The create via component specification process will also automatically create the required engine and APU asset records.
Zeevo can assist
Our team of industry experts are on standby to assist your leasing platform to spearhead data remediation to get the most value out of your Leasepoint. So, when do you want to get started? Contact us.
“The ability to query the status of current fleet assets and components, as well as legacy fleet activity, is a key reporting requirement for any leasing company.”
When was a specific aircraft sold, to whom, and for what price? How many aircraft were included in a legacy portfolio transaction?
Creating asset history records is the primary way Leasepoint maintains an asset’s general information including date of manufacture (DOM), serial number, variant, purchase details, sale details, and/or owner, as an example. The asset history feature can accumulate useful asset event and status information over time, provided it is recorded in a consistent format. Understanding the list of available event types and asset statuses, and their intended uses is a key requirement for effective long-term use of the Leasepoint asset history feature.
Define the business processes needed to successfully manage asset history data to enhance fleet reporting capabilities
Well-defined business processes mitigate asset history data quality issues that may develop over time through inconsistent usage. Some asset history records are automatically created in specific scenarios. For example, engine asset history records are created when there is an “engine swap” event. Also, certain contract events will automatically be added to the asset history when they occur (e.g., pending status Contract Summary). There is also a historic contract event type that allows recording of legacy lease information for an asset without creating a Contract Summary record.
Consistently recorded asset history records will enhance your business intelligence (BI) capabilities
BI dashboards and reports using asset history data can have a wide array of applications. For example, dashboards can present a visual fleet summary with breakdowns of the fleet by aircraft variant, lessee, portfolio, purchase details or however else users wish the event data to be sliced and diced.
Zeevo can assist
Our team of industry experts are on standby to assist your leasing platform to implement best practices on setting up asset history records in order to get the most value out of your Leasepoint. So, when do you want to get started? Contact us.
“Ensure the provisions most important to your platform are tracked and understand how you are going to enter the information into Leasepoint.”
In Leasepoint, the lease agreement data structure incorporates a Contract Summary and a collection of related payment schedule contracts for each applicable lease agreement payment type.
Supporting different lease provision types
A Contract Summary can record details on the lease’s parties, term, extension and early termination options, as well as scheduled events, among other applicable information. It is important to understand the different Contract Summary and contract-related features available before deciding which features to implement.
As an example, the following elements can be configured for each Contract Summary:
- Specific return conditions;
- Event reminders for different milestones throughout the lifetime of the lease;
- Less common lease provisions within the General Information feature; and
- User defined templates for tracking checklists and redelivery conditions.
Initial system configuration
Defining the business processes to support the maintenance of lease provision data is an important part of the configuration process, which ensures lease provisions and relevant milestones critical to your lease contract are tracked and monitored. Depending on the desired lease provisions, certain system re-configuration is required.
Lease agreement setup
Understanding the different parameters available for each payment schedule type is critical to maximizing the available feature set. A Contract Summary, and a related payment schedule contract, are typically established for each applicable lease agreement payment type. For example, a payment contract is created for the operating lease, security deposit, and maintenance reserves payment schedules for the corresponding reserve funds. The Contract Summary can be set up to deliver event notifications for any pending lease extension and early termination options held by a lessee.
Zeevo can assist
Our team of industry experts are on standby to assist your leasing platform to optimize your Contract Summary and Contract payment schedule features to get the most value out of your Leasepoint. So, when do you want to get started? Contact us.
- Read more about harnessing the power of Leasepoint in an article which appeared on Jan 23, 2019 in Airfinance Journal’s Daily Newspaper during the Global Airfinance conference held in Dublin, Ireland. Read
Disclaimer: These insights are independent articles and have not been authorized, sponsored, or otherwise approved by AMT-SYBEX. Leasepoint is a trademark of Capita plc, registered in the U.S. and other countries.
About Zeevo Group LLC:
Zeevo Group LLC (“Zeevo”) is a leading global professional services company, delivering advanced solutions designed to reinvent our clients’ operations and unleash their competitive edge. Combining unparalleled experience and deep industry expertise in improving the effectiveness and success of processes, policies, teams, and technology, Zeevo delivers proven results that create sustainable value for our clients’ shareholders and achieve their desired vision. Our business-led, technology-enabled solutions cover all aspects of business, including process design, performance improvement, operations and IT optimization, and finance transformation. www.zeevogroup.com
Direct: +1 760 933 8607