Financial leasing software isn’t something you replace often. Once chosen, it holds your contracts, invoices, accounting and reporting for years. So it pays to ask the right questions before you sign, not after.
These are the ten questions we hear most often from the leasing companies and non-banking lenders we work with – and what a good answer to each looks like.
1. Can it model our contracts as they are?
Leasing contracts vary a lot: vehicles, equipment, property, level or declining instalments, residual value, collateral, proxies. A good system is configured around your contracts; it doesn’t make you simplify them to fit the software.
Ask for: a demo on a real contract from your portfolio, with all its quirks.
2. Do invoices go out to RO e-Factura on their own?
Since Law no. 242/2022, invoices in Romania have to go through RO e-Factura. For a leasing company that means hundreds or thousands of invoices a month. They should be generated straight from the contract and sent automatically, and invoices received in SPV should be imported and booked with no re-keying.
3. Does the accounting follow from operations?
Every instalment, receipt, insurance re-invoice or termination has to produce the right accounting entries. If an accountant rebuilds those entries by hand, the system isn’t really doing the work.
Ask to see: how a receipt on a bank statement ends up in the ledger.
4. Does it follow IFRS 9 and IFRS 16?
Provisions and expected losses (IFRS 9) and the correct balance-sheet treatment of leasing contracts (IFRS 16) should be calculated by the system, not in separate spreadsheets.
5. Which reports does it produce, and from which data?
A Romanian leasing company reports to BNR, ANAF and ONPCSB. The important question isn’t only whether the system produces those reports, but from which data. Reports built from the same data as invoices and accounting need no reconciliation.
6. How does it handle insurance?
Policies have to be imported and validated, premiums re-invoiced to the client and payment schedules sent to insurers. It’s one of the areas where the most time is lost when work is done by hand.
7. Which systems does it connect to?
At least: banks (for statements), ANAF, the Credit Bureau and partner data sources. Every missing integration means a file moved by hand – and a source of errors.
8. What about security and compliance?
A leasing company handles personal and financial data. Ask about certifications (ISO/IEC 27001, for example), DORA and NIS2 requirements, and how access is logged.
9. Who implements it, and how long does training take?
Good software implemented badly helps no one. Ask about the implementation methodology, data migration from your current system and who trains your team.
10. What happens after go-live?
Legislation changes often – new forms, new XML schemas, new deadlines. Ask how quickly those changes reach the software and what operational support actually covers.
In short
Good financial leasing software does three things: it starts everything from the contract, never asks for data to be typed twice, and produces reports from the same data as everything else.
BI PRO Financial leasing was built on those principles. If you’d like to see it on your own contracts, request a demo.