Canlease | Red Thread Innovations

At a glance

Canlease faced challenges in its equipment financing solutions, struggling with low adoption rates among its target market of small to medium sized businesses. Red Thread Innovations partnered with Canlease to spearhead its digital transformation strategy, streamlining their leasing and financing processes through a sophisticated online platform serving both vendors and business owners.
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Service: Digital Transformation

Expertise

Digital Strategy

UX/UI Design

Business Process Automation

Custom Software Development

Platform

Web Application

Node.js

React

Salesforce

Challenge

Canlease's manual processes for leasing and financing equipment led to operational inefficiencies and a suboptimal customer experience, resulting in low adoption of its solutions. They needed RTI to help them digitize and streamline these processes while ensuring data security and integrity.

Solution

RTI created a digital portal that automated the quoting and application process for equipment financing, simplifying the journey for both vendors and their customers. The portal featured enhanced security measures to protect proprietary rates and prevent competitor access, ensuring data integrity and business security.

Result

The new digital platform led to a significant improvement in operational efficiency and customer satisfaction. The automation of the leasing process and the transparent application system facilitated easier access to financing solutions, leading to higher adoption rates and customer engagement.

Leasing At Scale

Through user research and business analysis, RTI identified key areas in Canlease's process that needed improvement. We identified friction points in equipment leasing to create a user experience that streamlined the end-to-end process. The new platform allowed users to easily obtain quotes and apply for financing, while enabling vendors to deliver value to customers at scale.

Transformative Digital Interface

Developing a user-friendly, intuitive interface was pivotal. The new interface not only made navigation simpler but also made complex financial information and processes more understandable for Canlease’s diverse client base.

Automated Quotes & Applications

A central feature was the automated quote generation tool, enabling vendors and customers to get instant, accurate financing quotes. This tool significantly reduced the time and complexity involved in the initial stages of the leasing process.

Bank-Grade Security

The development of a secure portal was a critical aspect of the project. The platform featured advanced security measures and user verification processes to protect sensitive data and ensure only legitimate transactions were processed.

Customized User Portals

Separate user portals for vendors and customers were created, allowing each group to manage their leasing needs more effectively. These portals were tailored to meet the specific needs of each user type, enhancing their overall experience and interaction with Canlease.

Efficiency & Data Integrity

The platform not only streamlined the leasing process for customers but also improved operational efficiency for Canlease. The integration with Salesforce and the creation of an admin portal allowed for easy rate updates and maintenance, ensuring data integrity throughout the process.