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Case Studies

Fundamentals of Equipment Leasing

 
Fundamentals of Equipment Leasing

The challenge:

The Equipment Leasing and Finance Association (ELFA) is an association that provides training and resources to its members, who are companies that finance equipment. The Association’s members join ELFA for their industry insight, support, and robust training. ELFA needed to update their online training course for those new to equipment finance. The Association sells licenses for the course to its members, so it needed to be engaging, fun, and easily absorbed by employees with little to no background of the industry.

As laws and regulations change for the industry, ELFA needed the course to be easily updated in order to increase its shelf life.

The Solution:

With the new employee audience in mind, Designing Digitally worked with ELFA to split the content into 7 micro lessons built with Storyline 3, that covered one topic per lesson, such as phases in the transaction lifecycle, accounting, and finance law. The micro lessons were created in Storyline and take approximately 8-10 minutes each to complete. The learner has the freedom to decide which lessons to complete and the order in which they complete them. This eliminates boredom a more seasoned employee may experience if there are any topics that they are already familiar with. The topic-focused lessons also serve as an easy-to-navigate job aid for those in need of a refresher on a specific concept.

The micro lessons are accompanied by a simulation-based game titled “Be the Boss,” built in Adobe Animate CC 2018. The learner takes on the role of a new employee at Strategic Equipment Leasing and Finance (S.E.L.F.), a fictional equipment finance company. In order to help clients, the player completes activities that mimic on-the-job duties such as making sales and creating price quotes. A key part of the game is identifying the other S.E.L.F. employees they need to work with in order to meet the clients’ needs.

During these activities, the player identifies the paperwork and departments needed, as well as which step in the lifecycle that the client is currently in. Learners earn badges and upgrades to the S.E.L.F. office as they move customers through the lifecycle, with bonus rewards for enhanced sales ability and increased attention to detail. If they struggle with an activity, the game guides learners to review the micro lesson that covers the relevant topic.

The Results:

ELFA is selling licenses for the updated course, and initial sales are exceeding the Association’s expectations. Upon the first day of release, one organization purchased 100 licenses and expressed interest in expanding the amount to 1,000. The Association is in the beginning stages of marketing but has the potential to reach their member's thousands of employees. They had almost $87,000 in licenses sold for about 80% ROI in two months!

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