SOFT4Leasing quotation process
This document describes the standard quotation process in SOFT4Leasing, from creating a new quote and entering applicant and asset information to validating, printing, converting, or withdrawing the quote.
1. In the “Back Office” role center, navigate to the Quotes list.
2. Click “New” to create new quote
3. In “General” part, select financial product, individual or business customer, in “Customer” part select customer legal form (if business), enter Name and other contact information. This information is about the main applicant of the quote.
4. In the “Applicants” section, additional applicants can be added, such as the director of the business. Applicants are linked to the contract and may sign documents or receive information during the contract lifecycle. For each applicant, select the “Individual/Business” field, choose the “Role in Contract” from the drop-down menu, and enter the name, email address, and phone number. Entering all applicants at the Quote stage is optional; this table can also be completed later during the Application process.
5. In the “Asset” section, select the model in the “Model Lookup” field, then complete the “New/Used Asset” and “Mileage Option” fields. Review the asset information to confirm that it is correct for the quote. Additional assets can be added to the same quote by using the “Add More Assets” action.
6. The “Financing” section is responsible for calculating the installment amounts and the full installment schedule. Before this step, the asset information must be completed. “Program”, “Installments Due”, and “Interest APR” are populated by default from the Financial Product setup. The Program also brings its default Term and Frequency. “Residual Value %” and “Residual Value” can come from the asset information entered earlier or from the Residual Value Setup page, depending on the option selected on the Financial Product. “Downpayment %” or “Downpayment Amount” can be entered manually if needed. Below the “Interest Manual” field, the total fields are displayed. “Financed Amount” shows the total financed amount of the quote, and “Installment Amount” shows the installment amount for the selected period.
7. Additional services, insurances, or guarantees can be added to the quote by using the actions in the Financing section.
8. On the “Contract Insurance” page, insurance products can be populated. They can be defaulted from Insurance Packages or entered manually. If entering them manually, select the Asset Line No. and the asset to which the insurance applies, then select the insurance product. In the “Treat As” field, select whether the insurance should be included in the installment, financed amount, or another available option. Pricing is taken from the Insurance Product page setup but can be overwritten using the “Overwrite Standard Price” field. If this field is selected, the user can manually change the product price for this contract.
9. “Contract Services” have almost the same setup as “Contract Insurance”. Pricing comes from the “Services” page and can be overwritten using “Overwrite Standard Price”.
10. The “Guarantees” page can be used when a party provides a guarantee, for example, to buy back the asset at the end of the contract. Select the asset and guarantee code from the list, then click the “Card” action to enter more information about the guarantee.
11. In the “Guarantee Card” fill in missing information about guarantee
12. After services and insurances are completed, if applicable, navigate to the “Installment Schedule” action in the Financing section to see a detailed overview of the schedule. In the “Amounts” section, all fees, the financing amount, schedule rules, and other information are visible and editable. “Financed Amount” and “Upfront Fees” are the primary sections to review.
13. Below the “Amounts” section, the “Installments” section shows the detailed installment schedule and structure. The “Commission / Subvention” section shows commission amounts, if applicable.
14. After “Financing” section there is “Originator/Supplier/Lessor” section which should be populated by selecting contacts from the drop down lists.
15. Documents for the quote can be found in the Documents section. This section contains all incoming and outgoing documents, such as the quote document. The File Drop Area allows users to drag and drop files directly onto the quote.
16. After all information is completed, the leasing officer can use the “Validate Quote” action to check whether all mandatory information is populated.
It will show warning log if there are critical errors or just warnings, that can be ignored:
17. After validating quote, use action “Print Quote” to generate PDF document for the customer to review if necessary.
18. If everything is correct and customer agrees to go into application stage, use action “Create Application” and it will convert current quote into Application.
19. If customer decides to drop the quote, use action “Withdraw Quote” to remove it from the Quote List.
