Fleet Advantage Wins Inaugural Excellence in Innovation Award from ELFA

WASHINGTON, Sept. 12, 2025 (GLOBE NEWSWIRE) -- The Equipment Leasing & Finance Association (ELFA) is proud to announce Fleet Advantage as the recipient of the 2025 Excellence in Innovation Award, a newly launched award honoring transformational initiatives in the equipment finance industry.

“The Excellence in Innovation Award recognizes the meaningful strides our industry is making to modernize, adopt digital technologies, and drive greater value for customers and stakeholders,” said Leigh Lytle, President and CEO, ELFA. “We are proud to honor Fleet Advantage for leading by example demonstrating how innovation in equipment finance can transform operations, enhance client experiences, and strengthen the future of our industry.”

Fleet Advantage is revolutionizing the end-of-lease process for heavy-duty trucks with their new system, OffLease Reimagined. This innovation reduces the average lease surrender time from over 90 days to just 30 days, saving clients millions on unnecessary lease extensions and cutting clerical errors by over 45%.

Replacing the former Operations & Technology Excellence Award, the Excellence in Innovation Award reflects a broader, more strategic focus on innovation across people, processes, and platforms. The award is part of ELFA’s expanding Innovation Experience and recognizes organizations that have demonstrated measurable improvements and delivered significant business value through operational excellence, digital transformation, technology advancement, and a culture of continuous innovation.

The award was presented during ELFA’s 2025 Innovation Lab Conference & Exhibition, where finalists pitched their projects live on stage. Conference attendees voted in real time, selecting the winner based on impact, creativity, and relevance to the equipment finance industry.

About ELFA
The Equipment Leasing & Finance Association (ELFA) represents financial services companies and manufacturers in the $1.3 trillion U.S. equipment finance sector. ELFA’s over 600 member companies provide essential financing that helps businesses acquire the equipment they need to operate and grow. Learn how equipment finance contributes to businesses’ success, U.S. economic growth, manufacturing and jobs at www.elfaonline.org.

Media contact: Jane Esworthy, Vice President of Communications & Marketing, jesworthy@elfaonline.org

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