Sumitomo Mitsui Finance and Leasing adds floorplan ﬁnance
Entering the floorplan finance industry for the first time, Sumitomo Mitsui Finance and Leasing chose CALMS Compass (Solifi) floorplan finance solution to manage its new line of business.
Sumitomo Mitsui Finance and Leasing (SMFL) is a subsidiary of Sumitomo Mitsui Financial Group, Inc., one of the largest financial institutions in the world. SMFL provides equipment leasing and instalment sales for manufacturing, finance, wholesale, public, and medical sectors, as well as ship financing, loans and real estate leasing, among financial services.
One of the largest ﬁnancial institutions in the world
The challenge was in implementing CALMS Compass (Solifi) end-to-end floorplan finance solution within 90 days to meet the needs of a key SMFL customer. The opportunity arose for SMFL when an existing client approached them in need of floorplan financing for its dealership base. Solifi’s CALMS Compass software became the established foundation for building the group’s operational and customer service infrastructure.
After a quick turnaround, SMFL was able to enter the floorplan finance business for the first time without issue. Solifi successfully implemented the CALMS Compass (Solifi) floorplan finance platform for SMFL on time and within 90 days of contract.
Of specific interest to SMFL, CALMS Compass (Solifi) can manage complex finance programs unique to the US heavy equipment market that other systems cannot support, making it the optimal choice for SMFL’s business management.