Customer Success Story
Hitachi Capital – End-to-end floorplan finance solution
After a full market survey, Hitachi Capital America Corp. chose CALMS Compass (Solifi) floorplan finance solution to replace its legacy system.
Background
Hitachi Capital America, established in 1989, is a diversified leasing and financial services company providing financing to commercial businesses across the United States and Canada. Hitachi Capital offers a variety of asset-based financing solutions with a focus on commercial vehicles, trade financing, as well as small & medium ticket financing and floorplan financing.
Thanks to the range of innovative finance products and a commitment to customer care, Hitachi Capital has a strong presence in the markets in which it operates. Its floorplan finance business initially operated through a legacy system that was inhibiting growth due to inefficiencies and general support issues.
Inefficiency and support issues inhibited growth.
Challenge
The challenge was to provide an end-to-end floorplan finance solution for its commercial truck and transportation customers and to facilitate future expansion into other industries. The new solution was required to support the business from dealer application through credit evaluation to portfolio and risk management.
Solution
After a full market survey, Hitachi Capital chose CALMS Compass (Solifi) floorplan finance to replace its existing legacy system. Solifi successfully converted Hitachi Capital’s legacy wholesale loan data into a production-ready CALMS Compass (Solifi) floorplan finance platform within the 90-day time limit from contract approval.
Conversion within 90 days of contract approval.
Results
Using CALMS Compass (Solifi) floorplan finance software, Hitachi Capital has been able to efficiently expand its floorplan business while improving standards for credit quality and customer service.
