Michael D’Errico, CIT Group
CIT Group Inc. (NYSE: CIT), a leading provider of commercial lending and leasing services, today announced the integration of its FlexAbility solution with ECi’s e-automate software product.
CIT’s FlexAbility solution gives manufacturers and dealers the ability to structure what they sell, how they charge for it, how invoices are presented, and how data is exchanged with CIT from credit application through account servicing.
For office imaging dealers on ECi’s e-automate platform who finance customer purchases through CIT, the integration means their software now can automatically communicate data for accounts receivables, usage billing and periodic maintenance charges.
“We are seeing very strong demand from dealers for technology integration with ECi’s e-automate,” said Michael D’Errico, CIT commercial leader for the Office Imaging team in CIT’s Equipment Finance unit. “Integration lowers the dealers’ operating expenses and, more importantly, it improves customer experience, particularly for managed print and cost per copy deals powered by our FlexAbility offering.”
Integration with ECi’s e-automate was a no-brainer, according to D’Errico, given its pervasiveness among the dealer community. The ability to push data through with no human intervention, and the convenience of FlexAbility handling all of the billing in a single invoice, enhances the value proposition. CIT also collects the money, expeditiously, adding to the convenience while lowering the dealer’s operating expense.
Given its no-touch process, FlexAbility removes the error variable that is accompanied by human intervention.
“We stay focused on trying to drive revenues for dealers, lower the opex and improve the customer journey,” D’Errico added.
Nearly 100,000 commercial financing customers are serviced through the FlexAbility solution, including vendors in the technology and industrial markets.
The Equipment Finance unit is part of CIT’s Business Capital division and works with manufacturers, franchisors, distributors, resellers, dealers and systems integrators to finance their equipment, software and services to commercial customers.
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About CIT
Founded in 1908, CIT is a financial holding company with approximately $50 billion in assets as of March 31, 2018. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has approximately $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.
