Alfa-Leasing has automated the execution of the contractual base

2023: Contract Automation

On April 13, 2023, Alfa-Leasing announced that it had automated the execution, verification and signing of contracts with partners and customers. Now 60% of approved transactions are formed and signed on EDO without the participation of company specialists.

Automation of work with the contractual base is part of the global digitalization of Alfa-Leasing's business processes. Despite the fact that contracts are template, each of them needs due diligence. Usually this process takes into account both the technical aspects of working with the text of the document (identifying errors, checking details, availability of printing) and more complex operations - registration of the contract, comparison with previously concluded agreements, checking details, transfer to the letterhead and sending for signature.

Previously, the back office was engaged in the formation of a contractual base for customers and partners manually. The process took an average of one working day, regardless of the typical contract or complex with handwritten fields, comments from other services, etc. To increase the number of processed and signed documents and eliminate possible errors in their execution, the company decided to automate all stages of this business process.

Dedicated specialists from the design department developed and agreed on all document layouts for each supplier with whom Alfa-Leasing works, and also established an EDO exchange. Thanks to this, the applicant only chooses the desired form of contract. Then all data is filled in automatically and goes to your personal account for signature using the EDS.

Previously, it took an average of three hours to prepare and check one set of documents for a deal. In addition, the client manager needed to arrange for the signing of paper copies with the client and supplier, which also took time. Now the whole process takes place without the participation of client managers and takes an average of one hour. The system monitors the correctness of filling in all fields, and EDM replaces paper document flow.

In 2022, Alfa-Leasing expanded its portfolio of leasing products, which entailed an operational restructuring of existing business processes. The company has implemented automatic unloading of contracts with approved conditions and automatic signing of documents. Now employees do not spend their time on routine work and engage in more complex and interesting tasks. Firstly, this accelerated the processing of trilateral agreements, and secondly, this is how Alfa-Leasing excludes errors in those processes where there is a great influence of the human factor, - said Irina Kazakova, head of the transaction processing department of Alfa-Leasing Group of Companies.