Established in June 2021, Orion Leasing offers leasing services for IT equipment, commercial and light transport, agriculture, construction, and many more for large and small businesses. In just a few years, Orion Leasing has positioned itself as one of the top players in their market segment, achieving a +100% year-over-year income growth from 2022 to 2023, all thanks to their excellent business agility and product innovation. The company currently operates in Lithuania and Latvia and is planning to expand into many more European markets in the near future.

The background

Just like most businesses, Orion Leasing started with home-made tools, but quickly realized they needed a more robust system to facilitate transactions with their customers (600+ in 2023), capable of easily integrating with all stakeholders (more than 90 000 point-to-point data exchanges by the end of 2023), and extensively automating processes (12 asset types, 15 workflows, 3000+ stakeholders). It was not only a technical requirement to sustain their growth, but more importantly a business enabler for their plan to conquer new markets abroad. The Lithuanian market’s nascent size may have been an advantage for their early successes, but it became a limitation when it came to finding a mature and proven software provider for their specific needs. Orion Leasing quickly realized that, like their future business plans, to find the right technical solution, they had to go abroad.

The challenge

Orion Leasing needed a scalable solution that could be seamlessly deployed across multiple countries while automating crucial decision-making processes. As adaptability was key, the system needed to be highly configurable to accommodate Orion Leasing’s distinct requirements, while ensuring ease of maintenance: no code overhaul required for future changes, but a simple and visual tool with drag and drop. The new platform had to be intuitive to streamline the leasing process, allow customers to manage their existing contracts autonomously, and foster better collaboration and communication between the many stakeholders involved in leasing transactions. In addition, Orion Leasing's commitment to providing detailed fund utilization reports to each partnering investor was a promise that gave them a competitive edge, but that required considerable time and effort (15+ investors with custom KPIs).

The solution

Orion Leasing quickly opted for Basikon because of its adaptable nature and proven track record in expanding into new countries. Basikon's advanced technology and the team's expertise enabled the project to be completed in just four months while adapting to Orion Leasing's needs on the fly. The Basikon solution enabled Orion Leasing to seamlessly integrate with various local data platforms (25+ via API), such as credit information bureaus, local company registries, personal records, and providers of valuation data.

A custom calculation engine has also been designed to match the sophisticated credit scoring model used by Orion Leasing, which computes more than 30 datapoints from 9 different data sources. By automating and efficiently processing the payments and credit collection of its customers, Basikon's extensive back-office capabilities have enabled Orion Leasing to significantly improve their overall operational efficiency.

For instance, time-to-yes for any leasing operation went from 10 minutes and 15 clicks to less than 20 seconds in just one click.

The result

The ease and speed with which the system was integrated with the various stakeholders, data providers, investors and partners exceeded Orion Leasing’s team expectations. They were also impressed by how swift and smooth it was to support the roll-out to a new market, and by the responsiveness of the Basikon team, even when working remotely.

The strength of the Basikon solution lies in its multi-country capability which simplifies the process of entering new markets, requiring marginal cost and effort. It operates as a unified system that allows seamless operations while ensuring that each country's configuration aligns with its specific rules and regulations, positioning Orion Leasing to successfully expand into new markets. In less than a year, thanks to Basikon, they have already managed to increase their partner reseller network by 80%.