Article for Leasing News, published November 5, 2001

What's the secret to making a splash at the national equipment leasing convention?

by Susan Carol

What's the secret to making a splash at the national equipment leasing convention?

• Present the results of original research
• Work with the ELA
• Plan well in advance

Despite terrorist threats and economic uncertainties, the ELA's 40th annual convention attracted more than 1,000 executives and a record number of exhibitors for this event held in Boca Raton, Fla., this week. If you want to reach the strategic thinkers and industry leaders, this is the place to be. The attendees are mostly senior-level executives who are big picture strategists that monitor the marketplace and enjoy the networking here, as well as golf and tennis.

But gray, windy weather brought people back inside and served as the perfect setting for "The Perfect Storm," a presentation by John Deane, managing principal of The Alta Group, Reno, Nev. The presentation drew a standing-room only crowd and demonstrated that the best way to attract attention at such a crowded event is to produce market intelligence that hasn't been previously released.

The report, unveiled for the first time at the convention, examined why some 32 companies are no longer in leasing and pointed to signals that commonly lead to problems. It said many of the failures stemmed from growing too rapidly or straying too far from a company's core strengths. To avoid sailing into stormy waters, lessors need to provide more value, make better use of technology and be mindful of their core competencies. Produced for the Equipment Leasing and Finance Foundation, an ELA organization, it concluded that recent leasing failures do not foreshadow the eventual demise of the industry.

And despite dot.com failures last year, there were quite a number of technology gurus in attendance. But, rather than push e-commerce as they did in the past, technology providers this year were highlighting their ability to help lessors operate more efficiently or make better presentations to funding sources. For example, McCue Systems, based in Burlingame, Calif., was demonstrating a new module to its web-enabled software suite that assembles and streamlines enterprise-wide data into a financial overview of your leasing business. Because this company designed the module to meet the ELA-sanctioned format for financial reporting, it is expected to sell well to equipment lessors.

And rather than focus just on the need for products that automate the leasing process from end to end, Cameron Krueger of Northern Consulting, Chicago, Ill., reported on recent research his company did on leasing front-end systems. Leasing Front Office Research Survey, which debuted at the convention, found that lessors are still entering data multiple times when there are systems that can take data once and distribute it to all participants involved in a transaction. In the study, sponsored by WiredCapital, he also found that only 41 percent of some 100 people interviewed are automatically scoring credit applications; most of this work is still done on paper. Though information technology is their second largest expense (after HR costs), Krueger said lessors are missing fundamentals, failing to integrate systems and not taking technology to the next level. Krueger plans to repeat his company's survey next year, given that such research can provide an industry benchmark and the basis for a substantial presentation.

Among the many exhibitors and private party sponsors, there were well known industry-focused service providers who offer automation tools, such as McCue Systems, Ivory Consulting and International Decision Systems, and there were new entrants making a splash--SAP America and Oracle Corporation.

Companies wishing to get noticed at this event had better plan early or be very creative in their strategy. When the Monitor discovered all booth space was taken very early on, this news organization made its presence well known by having its convention issue wrapped with The Wall Street Journal and delivered to attendees' rooms. The Alta Group also managed to include a flier about its latest alliance with CS Fairview Associates in that bundle.

As a writer, reporter and marketer, I realized from my experience at this convention that advance planning, an ELA connection and market research go a long way toward getting noticed in this industry. And, it is time to start researching and planning for the 41st annual convention to be held next year in San Francisco.