LTi Technology Solutions
Three Decades of Asset
Finance Technology Solutions
A Brief History
With a rebrand on the eve of the company’s 30th anniversary, LTi Technology Solutions, formerly LeaseTeam, Inc., has been a significant player in providing software solutions to the asset finance industry. The company first opened its doors in Downtown Omaha in 1989 by Co-Founders Russ Hallberg and Randy Haug. After beginning with an early mid-range computer solution, they successfully launched the first Windows-based application for the asset finance industry in 1992. LeasePlus would become the industry solution for the back-end management of leases and loans.
Less than a decade later, LTi purchased Novametric, the author of Lease Sales Manager – a front-end lease and loan origination system allowing users to process applications through the credit, documentation, and funding stages of a transaction. Leveraging the complementary functionality of Lease Sales Manager and LeasePlus allowed LTi to successfully integrate and deliver an end-to-end solution to the equipment and asset finance marketplace.
During the economic downturn of the early 2000’s, LTi invested in a technology solution that would provide the agility and flexibility needed to succeed as the finance industry evolved. Despite the performance strength of its front-end and back-end products, LTi sought to build a more comprehensive equipment finance platform. The new application suite would empower users to effectively scale their business by streamlining how they manage the lease and loan transaction lifecycle. This was the goal of the Phoenix Project, and in Spring of 2006, production began. The proposal encompassed the ground-up rewrite of Lease Sales Manager and LeasePlus into a single platform. In 2009, the project was renamed to ASPIRE and officially went to market in 2010.
ASPIRE is a comprehensive equipment finance platform that empowers customers to effectively scale and expand their business in any direction without having to change systems. Built with a configuration-first approach, ASPIRE is flexible enough to fit the processes of all different sized companies. This means that the platform adapts to various workflows without forcing clients to change their own. The functionality of ASPIRE drastically reduces time spent on contract management tasks and helps teams improve productivity, slash costs, and boost ROI. Robust, agile, and highly-configurable, ASPIRE combines the best from LTi’s legacy technology products into one comprehensive equipment finance platform.
The Practicalities of Innovation:
A Collaborative Approach
The value of customer feedback and industry insight can serve as a driving force in ingenuity. Each year, LTi holds their annual user conference as one of the ways to provide a real-time forum for their diverse install base. The company’s approach is to offer a variety of hands-on demonstrations and roundtables to help inform of their product roadmaps. Nothing compares to lessons learned through practical interaction with a tool or product. Part of what makes LTi stand out from their competitors is the significance the company places on this feedback. Product development becomes a partnership and a collaborative experience between the solution provider and the customer.
A partnership approach is how the development of ASPIRE during the Phoenix Project produced a configuration-based platform. As the organization navigates the finance industry landscape, these symbiotic relationships will prove integral to the process of expanding into vertical markets.
Same Great Vision Brand New Look
At the 2018 Annual User Conference, LTi was proud to announce its decision to rebrand from LeaseTeam, Inc. to LTi Technology Solutions. This was determined to be an essential next step to fortify the company’s brand identity as it seeks to expand beyond equipment finance. LTi has established itself as one of the premier technology partners in its current sector and aims to become the preeminent provider of technology solutions to the financial services industry.
In July 2018, Bill Weeks was appointed to the position of Senior Vice President and Chief Operating Officer. Bill has over 20 years of experience in the finance industry and has served in integral roles such as Senior Vice President and Chief Information Officer at Key Equipment Finance. He is a recognized leader in his field and has received many awards for his talents from various publications, including the Denver Business Journal’s CIO of the Year (2013) and CIO Magazine’s CIO 100 Award (2012 & 2015).
LTi also announced that Bryan Hunt, Vice President of Sales & Marketing, was promoted to Senior Vice President and Chief Revenue Officer, and Philip Rieck, Vice President of Research & Development, has been promoted to Senior Vice President and Chief Technology Officer.
LTi Technology Solutions has been named to the Inc. 5000 list of fastest-growing private companies in America from 2015-2017, and were honored by the Greater Omaha Chamber of Commerce with the “2018 Business Excellence Award in Innovation.”
LTi Technology Solutions