AutoBatch for DMS Gives Dealers and Vehicle Finance Companies the Capability to Automate DMS-Driven M2M Commands to those in Default
Skypatrol, a leader in GPS Tracking Solutions, is pleased to announce today a new time-saving solution for batch communications to car loan customers. Its AutoBatch for DMS gives dealers and vehicle finance companies the capability to automate DMS-driven M2M commands to those in default. Now, dealers can leverage the power of their existing DMS to output a list of defaulting customers and the type of action that is required. This list is automatically emailed “machine to machine” (M2M) and Skypatrol’s secure servers communicate with the borrower’s GPS turning on a piezo, sending location information or deactivating the vehicle if parked.
It does so fully independent of any system integration or application program interface (API) exchange, making it easy for Skypatrol customers to implement the solution across all popular DMS platforms without specialized technical support. Each time commands are distributed, a detailed report is sent confirming the action took place. If for some reason the vehicle can’t be reached, the system automatically retries to establish contact – which is reported as well. Industry estimates show that between 22-30% of sub-prime vehicle loans are in default, so it is vital that lenders have an efficient methodology for asset protection.
Skypatrol’s product and service solution combines proprietary GPS devices with innovative software systems that helps boost portfolio performance, increase operational efficiencies and reduce risk in the vehicle finance industry. The AutoBatch for DMS system combines with Skypatrol’s other finance industry products for a complete end-to-end solution. Its one-click Repo Mode Tool (Patent Pending) gives time-limited secure smartphone access to recovery teams of a vehicle’s current location. Skypatrol’s Data Verification Tool qualifies applicants and helps locate them if they skip. Its Virtual Collector module sends automated email and text reminders, increasing cash flow and reducing defaults.
“I am a very strong proponent of products that automate communications and actions around the default process,” said Jim Rhoads, a consultant to the BHPH industry. “By removing the potential for human error, reaction to delinquency is timely and consistent. It also depersonalizes part of the process, allowing collectors to effectively blame “the system” for early and persistent reminders. Automated communication also reduces the level of frustration that builds in collectors when they are unable to reach the debtor/customer and it frees collectors up to do the more important work of solving problems.”
“Auto Batch for DMS will save lenders and dealers the manual and labor intensive task of individually creating actions one at a time when no integration is possible,” said Larry Jones, COO of Skypatrol. “There are some DMS systems that don’t allow integration due to the lack of an API, there is a deficient API or it is a legacy system. Either way, finding a way to work outside of an API is just what our customers need to remain efficient and competitive.”