Leased asset management firm The Asset Works
forged three partnerships in February to offer its asset management
services across the European leasing industry.
The UK-based company teamed up with global
advisory firm Jones Lang LaSalle, leasing software business NetSol
Technologies and UK IT lessor Syscap to implement its assetaware
system.
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Through the partnership with Jones Lang
LaSalle, clients of The Asset Works will be able to access advisory
firm’s appraisal and remarketing services through The Asset Works’
asset management system.
The asset finance service provider was also
appointed by Syscap to implement asset verification services and
management for the independent lessor’s education and local
government clients.
The Asset Works will provide a similar service
to clients of NetSol, integrating its recently launched assetware
system, which enables clients to obtain imagery, current location,
usage, condition, and identification data of their assets, to
NetSol’s existing and future client base in Europe.
Speaking exclusively to Leasing Life, David de
Silva, director at The Asset Works, described the three deals as
part of a strategy to become the go-to data company in global asset
finance.
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By GlobalData“The big picture ambition for us is to deliver
a single-platform, cradle-to-grave data stream to global customers
and in order to achieve that we will need to partner with other
best in class service providers to the asset financing industry,”
he said.
De Silva explained the partnerships with
NetSol and Jones Lang LaSalle are about distributing the correct
data sets straight to the screen of the person that needs them.
“It’s about helping us to distribute
information of real value to the people who need it, so that they
can make better business decisions,” added De Silva.
The arrangement with Syscap, shares the same
fundamentals, said De Silva.
The deal will provide Syscap with electronic
verification of their assets during the term of the lease and their
educational clients will be provided with real-time asset
management – something, said De Silva, that has been traditionally
tricky for schools to keep on top of.
“A simple and very effective solution that
solves real business needs for both Syscap and their clients,” he
added.
“The right data to the right users. We’re a
data company. Valuable information is the lifeblood of our
business.”
De Silva said his company’s five year plan was
for The Asset Works to be a UK-centric company with a reach and
capability in several major countries, complimented by a global
network of supporting suppliers, which can deliver “Premier League
service.”
While De Silva would not be drawn on whether
The Asset Works other global partnerships in the pipeline to help
achieve its goals, he did not rule our further deals and
highlighted the asset-based lending space as key aim.
“We continue to look for opportunities without
restricting ourselves to any geographic locations or business
threads,” he said. “One of the biggest assets we have as a business
is our ability to scale and deliver in any market that has a mobile
phone infrastructure. We can go live in Brazil or Birmingham with
equal ease and no additional development.
“We are in the process of negotiating our
entry into the Asset Based Lending (ABL) space because the clearly
defined requirements of that industry align very successfully with
our abilities. It’s clear that assetaware can help drive valued
process and information exchanges in that arena and we hope to be
able to announce some interesting deals pretty soon.”
