What is AFQS?

Asset Finance Quotation System (AFQS) is a web-based quoting tool for pricing lease, hire purchase and equipment loan types of finance. AFQS can be used to calculate the repayments or find the return for a wide range of equipment finance scenarios, taking into account any tax benefits, and to compare the cost of financing through a lease, hire purchase or loan.

An important addition to the tax-based calculation functionality of AFQS is the ability to store the quote and customer details in the central database and produce documentation required at various stages of the loan application process.

AFQS is simple to use and can be accessed over the internet by both internal and external users (brokers) to use as a front-end or just a web-based calculator.

Calculation Functionality

	Quote on yield, customer rate and lessor rate, calculate yield
	Solve for equipment cost, residual and drawdown fee (brokerage)
	Specify or solve for dealer subsidy
	Vendor subsidy programs
	Multiple assets with different commencement dates and terms
	Deferred and split drawdowns
	Regular, irregular and seasonal repayments
	Quote summary, payment, amortisation and tax schedules
	Finance comparison (lease vs. hire purchase or equipment loan)
	Payout calculation
	Australian jurisdiction (finance methods, tax and duties calculation)
	New Zealand jurisdiction
	Goods and services tax (GST) support
	Luxury car tax (LCT) including fuel-efficient

Read more on the Calculation Functions.

Quote Management

	Central quote and customer database
	Central pricing parameters (tax and depreciation rates, cost of funds, etc.)
	Branch level pricing parameters
	Quote documentation printed or emailed to customers
	Automatic quote follow-up report emailed to each user
	Quote statistics reports
	Australian Business Register (ABR) searches
	Interface with back-end systems (XML)

Design

	Central, web-based solution
	User access control
	Branch control
	Information security
	Customisation and enhancement according to customer requirements

Software Maintenance

Any equipment finance software needs to be modified from time to time to remain up-to-date with the current state of legislation. The legislative changes range from small, but regular, such as stamp duty changes, for example, to more fundamental like the GST hire purchase reforms.

We offer maintenance arrangements to our clients to ensure continuous usability of the AFQS software in the current tax environment as well as technical support and version updates.

Among AFQS Users

The following equipment financiers have used AFQS over the years. It will also suit a finance broker company (introducer).

	Adelaide Bank		Members Equity Bank
	Bank of Western Australia		Mercedes-Benz Finance
	Bendigo Bank		National Australia Bank
	Capital Finance		Optus Systems
	Commonwealth Bank of Australia		Rabobank
	DVI Financial Services		Security Allied Finance
	Hewlett Packard Finance		Société Générale
	Investec Bank		St. George Bank
	Macquarie Bank		Suncorp-Metway Bank