Samsung, Lease Accounting solution from Leasesolution


As the #1 Consumer Electronics company, Samsung Electronics is the global leader in mobile, semiconductor and display technologies.

Guided by the simple philosophy, ‘˜Inspire the World, Create the Future’™ they are committed to shaping the future of technology and setting the standards in the realm of fast, dynamic change.


In April 2015, LeaseSolution and two global software giants were invited to tender.

The requirement was: ‘˜To provide Samsung with an automated lease management system to enable the running of lease agreements from initial contract acceptance through to termination, including the management of all in life events including but not limited to billing, collection, arrears management, accounting and UK GAAP accounting.

After protracted evaluation and discussion, Samsung decided to move forward with LeaseSolution’™s LS2 Software eventually going live in November that year.

The unique flexibility of LS2 was recognised right from the outset, and considered critical to help meet the inevitable future uncertainty associated with Samsung’™s continued success.

Subsequent demands way exceeded expectation, but have been continually addressed by simple solutions delivered from the LeaseSolution team.

The LS2 SAAS license costs a fraction of alternative options. But also, because of the unique architecture of LS2, customisation costs are dramatically lower and delivered within much shorter timescales.

Samsung Comments

Rik’¦’¦..The attraction of the LS2 platform was that it was flexible, intuitive to use and scalable to match our aggressive growth targets.

The additional value that was brought was Vince’™s expertise and knowledge of the leasing industry. He was able to act as a true consultant to ensure we got the most out of LS2 whilst optimizing our business model.

Tim’¦’¦’¦.As Leasing Operations Manager, stability and flexibility of the system were critical and I can say that LS2 delivers both at reasonable costs and within required timescale. Vince and his team not only have been proactively providing system supports with enthusiasms but also advices, suggestions, and feedbacks which were very helpful in managing Samsung’™s in-house leasing operation. Very satisfied with LeaseSolution and LS2.

Marc’¦’¦. I find it easy to navigate around the system and can find straight away all of the necessary information I need. It is laid out in a way I understand and is useful for me so I can see exactly which customer owes what and when. I can also use the same screen for a quick and accurate cash forecast for when Treasury request it.