What is AFQS?

Asset Finance Quotation System (AFQS) is a web-based quoting tool designed 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 via the internet by internal as well as external users (brokers).

Calculation Functions

	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, hire purchase and equipment loan)
	Payout calculation
	Australian jurisdiction (finance methods, tax and duties calculation)
	New Zealand jurisdiction
	Full GST support

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
	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

No matter how good a leasing program is, it has 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 instance, to more fundamental like the introduction of GST. Mercer offers maintenance arrangements to its clients to ensure continuous usability of the AFQS software in the current tax environment.

Contact Us

For more information on AFQS or a trial copy of the software, please send us an email or call +61 2 8864 6809. Depending on your office location, we may be able to arrange an on-site demonstration of AFQS.