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| DataScan Technologies Debuts the Next Generation of Financing Solutions |
Wholesale Management Suite Version 4.x Launched in United States
Alpharetta, Ga. - DataScan Technologies LLC (DataScan), a global leader in automotive wholesale finance accounting and risk management systems, today announced it has launched a new, robust version of its wholesale loan accounting suite. "Wholesale Management Suite Version 4.x" (pronounced four dot ex) was built with greater functionality, scalability and flexibility. It allows for greater customization depending on the client's needs. The enhanced version can be scaled up and customized to handle millions of loans, if necessary.
DataScan's products have revolutionized the way banks and captive finance companies manage their floorplan portfolio, allowing them to work more effectively with quick, secure Internet access. Some of 4.x's new key features include:
- Audit tracking of all data changes
- Browser-based user interface
- Enhanced backdating of all transactions and rate/plan changes
- Improved role-based security
- Separate reporting database for improved flexibility and performance
- Stencils allow for user control over the appearance and behavior of screens
- Expanded international capabilities, including support for multiple currencies and double-byte character sets
"For the past 20 years, DataScan has been the global leader in wholesale floorplan products and services," said Frank Armstrong, president of DataScan Technologies. "We believe that 4.x will help expand our market-leading position in the United States by combining state-of-the-art technology with superior wholesale floorplan lending knowledge."
Rebecca Hewitt, assistant vice president, Commercial Operations, for diversified financial services company, World Omni Financial Corp., added: "We're successfully utilizing 4.x and effectively managing loans to all of our floorplan dealers, representing nearly $1 billion in outstandings."
DataScan announced earlier this year that it had entered China with its 4.x product which can support any language. The company currently operates versions of its product suite in 15 countries in Asia, Europe, and North, Central and South America. DataScan's systems manage over $45 billion in outstanding collateral.
Included in the 4.x Suite are upgraded versions of DataScan's Wholesale Management System (WMS), Collateral Management System (CMS) and Dealer Access System (DAS) software:
Wholesale Management System
Considered the "industry standard," DataScan's Wholesale Management System was specifically designed to satisfy the unique needs of the wholesale floorplan industry. WMS provides banks and captive finance companies with the flexibility to market a broad range of wholesale lending programs, real-time information necessary to manage corresponding risk, and cost savings required to remain competitive. WMS clients can realize higher profits, lower risks, and increased productivity.
Dealer Access System
The first application of its kind, Dealer Access System offers dealers real-time Internet access to their wholesale floorplan portfolio and allows their users to submit floorplan loan requests, equity account deposits/withdrawals, and remit payments - at any time, day or night. Dealers can also review and report on critical management data including available credit, outstanding balances, monthly billing statements, and current interest rates.
Collateral Management System
Designed specifically for wholesale lenders, DataScan's Collateral Management System offers financial institutions state-of-the-art technology to manage floorplan risk and improve efficiency. CMS helps lenders identify potentially risky situations before a loss occurs by capturing relevant data and highlighting risk factors on a variety of review screens and reports. CMS improves efficiency by automating the reconciliation and reporting processes.
About DataScan Technologies LLC
DataScan Technologies (DataScan) (www.datascantech.com), headquartered in Alpharetta, Ga., is a global leader in wholesale finance accounting and risk management systems and services. Specializing in floorplan solutions, DataScan has revolutionized the way banks and captive financial institutions manage their collateral, allowing them to work more effectively with quick, secure Internet access. The first to market dealership Internet solutions for wholesale financial institutions, DataScan enables closer electronic communications between the lender and the dealer. DataScan is a division of World Omni Financial Corp. (World Omni) (www.worldomni.com), a diversified financial services company. World Omni operates as a subsidiary of JM Family Enterprises, Inc. (JM Family) (www.jmfamily.com), a $12.2 billion diversified automotive company ranked by Forbes as the 22nd-largest privately held company in the U.S. JM Family is currently ranked No. 23 by FORTUNE® as one of the 100 Best Companies to Work For, its 10th consecutive year on the list. JM Family is headquartered in Deerfield Beach, Fla.
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