This is a series of three alerts that will track any lease returns that you need to monitor on behalf of your customers, to ensure that the non-renew letter is sent at approved time and the equipment is returned to the leasing company, in order to avoid any additional payments, renewals or penalties to close out an old lease.
Overview | Samples | Variables | Alert Functionality | Best Practices & Tips | Related Alerts
Overview
Overview
This process helps you track your competitively replaced lease returns with this series of alerts, ID420, ID421 and ID422. Many dealers now store competitive equipment as the leasing companies will not take it back before lease end. Ensuring that these leases do not renew, and the equipment gets returned in a timely manner, is imperative to keeping your margins.
This series of alerts is based on using equipment status, so all your competitive leases need an equipment record, the equipment should not be brought into inventory, but must have an active equipment record. The alerts use custom properties set on each equipment record to track when to send the end of lease letter, the date the equipment needs to be returned by, and the date the equipment was actually shipped back to the leasing company. Note that these processes do not email any notices to your customers directly, they only email internally within your organization to those listed as recipients on the alert subscription.
ID420 will alert you Var W # of days before the End Of Lease termination letter needs to be sent to the leasing company, this is to ensure your customer submits the letter within the time period that is required by the lease co.
ID421 will alert you Var W # of days before the equipment needs to be returned back to the leasing company. A lease is not closed out/finalized until i) the final payment is made AND ii) the equipment is returned to and received by the leasing company. This will also send an emailed alert the specific ITT contact on the equipment record custom property if you use it.
Both of the above processes require specific custom properties be assigned on those lease end equipment records, if they are not assigned, you run a risk of missing deadline dates which can send leases into renewal periods. In order to avoid missing data, use the below to monitor those.
ID422 will send you a list of equipment that have been assigned an equipment status of 'Lease Return' (or what is set in Var W), and if any equipment with that status is missing any of the needed custom properties, those EQ records will be listed on this daily alert that will remind you that they need updating.
Run Schedule:
ID420 weekly/Monday morning
ID421 weekly/Monday morning
ID422 daily/weekday mornings
Type of Output: Email
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Sample
Samples
ID420 - emails when an EOL (End of Lease Letter) needs to be sent to lease co within the next Var W days
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ID421 - emails when equipment is now due to be returned back to the lease company
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ID422 - daily list of Equipment Records identified with an EQ Status of Lease Return, but are missing the correct custom property assignments
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Variables
Variables
ID420 Variables
Every Variable in RED is required:
Variable W: - # of days before the lease end date you want the alert to remind you to ask the customer to send the letter
Variable X: - (Default name is ZCJLeaseEndDate, type is Date) - name of the Custom Property set on the Equipment record indicating the lease end date
Variable Y: - (Default name is ZCJMustRtnLeaseEqpBy, type is Date, to match ID421/VariableX) - name of the Custom Property on the Equipment record indicating when you received a copy of the letter from your customer to the leasing company (assumption is that it was sent to leasing company at the same time it was sent to you). You will update this value AGAIN when the leasing company advises of the must-by-returned-by date on the Eqp. (**This custom property must be on the configuration for ID420 to report correctly, it can be blank.)
Variable Z: - Eqp Status (per the Eqp record) the alert should trigger on, separated by a comma - yes, you must put values here else the alert will not fire
Variable 1: - (Default name is ZCJLeasingCompany type is VendorLookup) - name of the Custom Property on the Equipment record indicating the name of the leasing company the equipment is leased with
Variable 2: - (Default name is ZCILeasingCustomer, type is CustomerLookup) - name of the Custom Property on the Equipment record indicating the name of the customer who incurred the lease on the equipment (you may find yourself holding that Eqp until time-to-return, and if so you should re-set the Customer on the Equipment Record to your Company Customer so you can properly indicate where the Eqp's physical location is. This value lets you track who's-lease-is-it-still-on after that's done)
ID421 Variables
Every Variable in RED is required:
Every Variable below is required:
Variable W: - # of days before Eqp is due to be returned to lease company when you want the alert to remind you to return it
Variable X: - name of the Custom Property (Default name is ZCJMustRtnLeaseEqpBy, type is Date, to match ID420/VariableY) on equipment record indicating when you received a copy of the letter from your customer to the leasing company (assumption is that it was sent to leasing company at the same time it was sent to you). You will update this value AGAIN when the leasing company advises of the must-by-returned-by date on the equipment. ID421 uses this value to decide when to start reminding you to get the equipment returned.
Variable Y: - name of the Custom Property (Default name is ZCJDateLeaseEqpReturned, type is Date) on the equipment record indicating when you actually confirmed that equipment was returned to the leasing company (date equipment was shipped back)
Variable Z: - Eqp Status (only one, not multiples, per the Eqp record) the alert should trigger on - yes, you must put a value here or else the alert will not fire
Variable 1: - you can optionally associate a Job that you set up for each Sales Rep. The Job should have the Rep, reps mgr, and sales admin person for the rep as 'contacts' and the alert will send any pertinent email alerts to all contacts on that Job.
Variable 2: - (Default name is ZCJCustomerContact, the type is ContactLookup) - the name of the Custom Property on the Equipment record indicating the name of the contact at the customer responsible for coordinating ship-out
Variable 3: - Custom Property for Originating Customer on the Equipment Record (default ZCJLeasingCustomer)
Variable 4: - Enter in here the custom property attribute name that you created to store the contact link (linked to the EA Contacts) for the ITT selling dealers contact you want to use to request pick-up return instructions. If you do not populate this attribute, then no ITT message will email will be sent.
Variable 5: - If you are using this process to send an email to a ITT ship-in dealer contact requesting them to provide return instructions for equipment you pickup on their behalf, enter in the EquipmentStatus you will be using for triggering the email to the ITT contact here.
Variable 6: - Optional custom property to store the date the equipment is 'stored' to show 'Days Stored' on output (available in revision 2021.05.21 and on)
Variable 7: - Enter branch numbers you want the alert to consider, separated by comma, else leave blank for all branches. (available in 2021.05.21 revision and later)
ID422 Variables
Every Variable in RED is required:
Every Variable below is required:
Variable W: - Eqp Status (only one, not multiples, per the Eqp record) of Eqp to check for proper Custom Property entry
Variable X: - Name of the Custom Property configuration which contains all the ID420/ID421 Custom Properties. Note that this does require that you have all of the custom properties on their own configuration.
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Alert Functionality
Alert Functionality
1. Must set what the "Equipment Status" will be for any lease return equipment. All three alerts require the one status to be set, see this post on how to create Equipment Status(es).
For ID420 to properly trigger on equipment:
1. The equipment record must be active.
2. The status of the equipment must match to Variable Z.
3. The custom property ZCJMustRtnLeaseEqpBy (identified in Variable Y) must be BLANK on the equipment record for ID420 to pick it up.
4. The custom property ZCJLeaseEndDate date (identified in Variable X) is within the range per the setting in Variable W.
In other words, the equipment record is active and has the matching status sent. The custom property to track the lease end date (Variable X) is set and when that date is within the number of days set in Variable W, the alert will trigger and send the list of equipment that needs to have the end of lease letter sent.
The custom property indicating the date the equipment should be returned (Variable Y) should be BLANK at this point, as you do not know the date to return the equipment at this point. Once the end of lease letter has been sent, update this custom property with the date the letter was sent. Once this date is filled in, the alert will no longer trigger on this equipment record.
This field would be updated again, once the actual date the equipment needs to be returned is known.
**Keep in mind that ID420 only runs weekly when setting the number of days to be reminded of the letter to be sent to the leasing company.**
For ID421 to properly trigger on equipment:
1. Equipment record must be active
2. The status of the equipment must match to Variable Z.
3. The model on the equipment record must be set as a host.
4. The date in the custom property on Variable X must be within the days set in Variable W, OR if both Variable X and Y are blank, the alert will trigger with "Missing!" in the date due back column.
In other words, the equipment record must be active and the model must be marked as a host. Once the date set in the custom property in Variable X is within the days set in Variable W, the alert will trigger and let you know that the equipment needs to be returned to the leasing company. The alert will also trigger for equipment records where both the return due date and the date equipment shipped back custom properties are blank and will show Missing! in the due back column of the alert output.
Once returned to the leasing company, update the custom property in Variable Y to show the date the equipment was returned. Once that property is updated, the alert will stop reporting on the equipment record.
**Keep in mind that ID421 only runs once a week when setting the number of days to trigger the alert**
ID422 will send a daily list of equipment that has the status indicated in Variable W and has the custom property configuration assigned in Variable X that is missing any custom properties needed to trigger alerts ID420 or ID421.
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Best Practices & Tips
Best Practices & Tips
Custom Properties to be set up:
Note that this does require that you have all of the custom properties on their own configuration as shown above. With the equipment being stored, all other custom properties would be irrelevant and only this configuration should matter.
Custom Properties:
ZCJCustomerContact - Contact at customer for lease return, use lookup and contact emails as lookup type.
ZCJDateLeaseEqpReturned - Date equipment was sent back, date type
ZCJLeaseEndDate - Date the lease ends, date type.
ZCJLeasingCompany - Leasing company equipment will be returned to, customer lookup.
ZCJLeasingCustomer - Name of the customer that the equipment was leased to, customer lookup
ZCJMustRtnLeaseEqpBy - Initially used for the date the end of lease letter is sent to the leasing company. Field is updated again when the leasing company provides the date that the equipment needs to be returned by. Date type.
For questions on custom property set up, see this link. If you have any questions on these custom properties, please email help@ceojuice.com
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Related Alerts
Related Alerts
None at this time.
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