The Power of Mass Updates in Leasing Software

Boosting Productivity and Accuracy across your Asset Management Processes

Many companies are aware of the available features for Mass Updates, but not everyone is aware of the power of this addition to back-end lease processing software.    The process is relatively straightforward for power users that are familiar with Excel, formatting values, and identifying records in the back end to update.  With this feature, companies can streamline their data management and ensure consistency.

What Can Be Updated? Key Areas for Mass Updates

Mass updates can be run on Customers, Contracts, Assets and Dealers.  They can be performed across different fields, ensuring critical information is accurate and uniform.  The fields include:

1. Asset Descriptions: Standardizing or updating descriptions for clarity and consistency.
2. Asset Location: Updating site locations for assets, especially after relocations.
3. Status Fields: Changing the status of multiple assets or contracts
4. Category or Classifications: Updating asset classifications, such as asset codes, manufacturer or vendor, for better organization or compliance with new standards.
5. Contact Information: Changing contact details for responsible parties or departments associated with specific assets.
6. Contract Information: Updating or standardizing fields for invoice messages, formats, updated SIC or NAICS codes, other fields like Lead Bank and Quote Buyout.
7. Custom Fields: Any User Defined fields relevant to your organization’s specific needs that require bulk updates.
8. Comments or Notes: Adding or modifying comments for multiple records to reflect recent changes or insights.

Mass updating these fields can streamline operations, enhance data accuracy, and improve reporting capabilities.   Plus, these fields can be updated BEFORE contracts are booked.   This is especially useful when manually booking contracts with a large number of assets. 

Benefits of Mass Updating Non-Financial Fields

Mass updating non-financial fields in the leasing software can offer several benefits:

1. Efficiency: It saves time by allowing you to update multiple records at once instead of making changes individually.
2. Consistency: Ensures uniformity across your data, reducing discrepancies and errors that might arise from manual updates.
3. Data Accuracy: Automated updates help maintain the accuracy of your records, which is crucial for reporting and decision-making.
4. Improved Reporting: Up-to-date data can enhance the quality of reports and analyses, leading to better insights.
5. Streamlined Processes: It can simplify workflows by keeping information current, making it easier for teams to access the data they need.
6. Regulatory Compliance: Ensures that all required non-financial information is accurately captured and up to date, aiding in compliance with regulations.
7. Enhanced Communication: Updated fields can improve communication between departments by providing a clear and consistent set of information.

Overall, mass updating non-financial fields helps maintain a robust and reliable data environment, which is essential for effective  asset management.

How JDR Solutions Can Help with Mass Updates

At JDR Solutions, we have experts on the Mass Data Update process and can help your organization utilize this feature.  Whether it’s analyzing the database for items to update or training your administrative staff on updating records, we have you covered.  

Intrigued?  Contact JDR Solutions today to learn how JDR Solutions can help you get a handle on your data.  Call us at 317-863-7676 or send an email to info@jdrsolutions.com to get started.