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March, 2006 –
If you think you are making out like a bandit on that lease, it's time to re-read the contract. After all, the leasing company is making money, isn't it?
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With more than 9,300 employees and over $3.5 billion in revenues, Allegheny Technologies Incorporated (ATI) is one of the largest and most diversified specialty materials producers in the world.
The company's treasury department needed to standardize their equipment financing process and ensure its business units were leasing equipment utilizing corporate financial policies and tools.
Challenges
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Deploy best practices for lease analysis and execution across all business units.
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Implement effective cash management methods and reduce costs of leasing obligations and commitments.
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Provide more visibility and control for the treasury department into leasing activities done by its business units.
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Solution
ATI has deployed the Captara web-based solution across all seven business units with an unqualified positive response. Captara enables the treasury department to have visibility and control over the leasing process as well as its portfolio of leasing obligations and commitments.
Results
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Use of standardized contracts, thereby minimizing contractual risks.
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Standardized lease vs. buy analysis, RFP management, and proposal analysis.
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Comprehensive management and reporting of lease obligations and commitments throughout the lease life cycle.
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With Captara, ATI's business units have a standard financing policy to follow. They can now utilize the web-based solution for lease vs. buy analysis, RFP creation and portfolio management of leases. The treasury department has control and visibility into these leasing activities—including comparing all lease proposals and selecting the optimal finance structure. By standardizing all leasing documentation with Captara, ATI reduces their negotiation times and minimizes contractual risk. To date, ATI has saved, on average, 12.32% on leases with the Captara solution.
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