Alfa introduces Sustainability, the third pillar of Alfa Systems 6

Provider of technology for asset finance, Alfa, has announced the release of Sustainability, the third of six releases which make up Alfa Systems 6.

Founded on six pillars, Alfa Systems 6 helps asset finance providers tackle the significant challenges they face, and seize the lucrative opportunities that lie waiting. It is delivered in a series of six releases that will culminate in its full launch later in 2024.

Sustainability in Alfa Systems 6 offers powerful new capabilities to address the evolving needs of the industry, particularly in equipment finance, and particularly those providers who are driven by sustainability and changing business models.

Building on last year’s announcement of new Scope 3 reporting functionality to help Alfa customers track and report their portfolios’ greenhouse gas (GHG) emissions, Sustainability equips finance providers with the flexibility they need to:

• Embrace new business models: Support subscription-based offerings and XaaS (Everything-as-a-Service) models, which are gaining traction across industries.
• Manage the entire asset lifecycle: Extend product lifespans, optimise second and third lives of equipment, and streamline refurbishment processes.
• Comply with net-zero and ESG regulations: Navigate the changing landscape, shaped by environmental concerns and regulations.

“The equipment finance industry is undergoing a period of significant transformation, driven by sustainability initiatives and innovative business models,” said Emily Hammond, Alfa’s Head of Product.

“The Sustainability pillar of Alfa Systems 6 empowers finance providers not only to adapt to these changes, but also to capitalise on the exciting opportunities they present.”

Sustainability highlights in Alfa Systems 6 include:

• Enhanced asset lifecycle management: Alfa Systems 6 allows customers to track and account for assets throughout their entire journey, from origination to end-of-life, including inventory management for reuse and resting, short-term second and third lives for equipment, and streamlined refurbishment processes.
• Subscription-ready platform: A new Subscription ‘Service Pack’ supports a variety of subscription models, including on- or off-lease subscriptions, usage-based or periodic billing structures, and targeted AI-driven software subscriptions that optimise equipment usage.
• Seamless Everything-as-a-Service facilitation: The XaaS ‘Service Pack’ allows users to manage multi-asset schedules and contracts, utilise usage meters and customised usage-based billing, and integrate financing and invoicing of essential add-on services into a single, consolidated billing line.

Alfa Systems 6 reflects Alfa’s longstanding commitment to sustainability, and its dedication to supporting its customers in their sustainability journeys.

In 2023, Alfa announced new functionality to help its customers track and report their portfolios’ Scope 3 greenhouse gas (GHG) emissions. Soon, Alfa will unveil its own Sustainability Progress Report, offering insights into its Environmental, Social and Governance (ESG) performance and initiatives, including further details of its commitment to net-zero, as validated by SBTi.