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TransUnion develops innovative technology to simplify dealer stock processing

Posted By: ABR Move

 

The TransUnion 1Check app delivers a unique value proposition for dealers through its Stock Loader feature.

13 April 2015 – Johannesburg; TransUnion Auto Information Solutions and Digital Solutions Group added a new feature to the highly successful TransUnion 1Check app - Stock Loader – to provide an easy and convenient way in which dealers can upload their stock through scanning a vehicle’s licence disk with a smartphone.

Through the app, dealers are able to access current, accurate information about any car, anytime, anywhere and ensure that it is loaded into their stock as it hits the dealer’s floor.

“For years, TransUnion has been a trusted source for dealers when making vehicle trading and risk decisions. However, given the move towards mobile and the changing business environment, we identified a need in the market for a low cost, easy to use mobile stock management tool,” says Kriben Reddy, Director of Product Development at TransUnion Auto. “As a result, together with our mobile partners – Digital Solutions Group – we developed an extension of the TransUnion 1Check application that we believe is a revolutionised vehicle stock management feature with a key value proposition for the dealer network country-wide.”

While the TransUnion 1Check app offers dealers a diverse range of solutions related to risk management, fraud prevention, valuations and business process enhancement – by utilising the  new Stock Loader feature the dealer is now able to easily upload and manage their stock, download comprehensive stock reports to identify overage vehicles, view current and projected book values and historical depreciation. In addition the dealer can link a customer to a vehicle in stock as well as link the vehicle that the customer wants to trade-in with the dealer enabling an all-inclusive electronic deal file, with all the key elements pertaining to the deal.

“TransUnion have been a helping hand within the dealer space for a long time and this enhancement in its digital offering is not only convenient, but enables them to combine their knowledge drawn from across the business’ many databases with mobile technology – increasing productivity and vehicle stock quality. As a result, we have assisted them in bringing to the fore yet another innovative solution, to ensure the industry can easily inter-operate and that business processes are streamlined,” says Zak van de Merwe, CEO of Digital Solutions Group.

So how does the Stock Loader feature work for the dealer with a floor full of stock?

  • The dealer will capture all the floor stock by scanning the licence disk of the vehicle with their mobile device (smartphones only);
  • The system will then include the current book values of the vehicle as well as allow the dealer to perform any pedigree checks that may be required;
  • The dealer can then download a full stock report displaying all the information about the vehicle including: current book value, 3 months projected values with historical depreciation, along with an indication of coverage;
  • The values will update automatically on a monthly basis. Once a vehicle is sold the dealer can easily update the vehicle, removing it off his current stock list.

“The app provides a holistic solution to the dealer at a fraction of the cost of other tools in the dealer space by combining a number of features including: Test Drive, a fraud prevention solution, Quick Credit which provides credit scores of potential customers,  Verification and Valuation reports as well as historical vehicle information. Now, with the addition of the Stock Loader feature, the application becomes an end-to-end business tool for the dealer – simplifying the stock management process and enabling a real-time, holistic view of the business’ full stock portfolio,” continues Reddy.

“Our mobile technology partners, DSG, have developed a world class application that simplifies our business processes and uplifts our offering to the market – a fundamental move for a brand that forms a cornerstone to the automotive industry segment. We look forward to the positive change and convenience this feature will bring to the dealer sector,” concludes Reddy.