50 Percent Cost Savings
Mumbai, March 31, 2005, SuperSolutions, an i-flexÂ® solutions company, today announced that Bay View Acceptance Corporation, a leading automotive financing company servicing more than 7,000 dealerships in over 25 states, has replaced its FISERV existing legacy system with SuperSolutionsâ Daybreak Lending Suiteâ¢ running on an ASP basis.
The Daybreak Lending Suiteâ¢ provides Bay View with an anticipated savings of up to 50 percent, with a projected payback in less than two years. The web-based solution enables Bay View to implement a true, end-to-end servicing and collections system, consolidating the number of systems and software providers previously required and supporting the companyâs status as a leader in the indirect lender industry. Additionally, through its conversion support, the Daybreak Lending Suiteâ¢ also supported Bay Viewâs business goal of achieving Sarbanes-Oxley certification for its loan processing system.
"The significant savings over our previous systems provided the business advantages of increased flexibility and agility needed to continue our competitive position in the market," said Pamela Wade, First Vice President, Business Systems, Bay View Acceptance Corporation. "SuperSolutions will provide the Company with tremendous cost savings through a more technologically-advanced solution capable of meeting our current and future business goals. Also, the ability to meet Sarbanes-Oxley certification in a timely manner for our loan processing system was a major requirement for us."
As a leader in the indirect automotive financing industry, it is important for Bay View to provide an easy-to-use, flexible and stable solution for optimal customer service. Daybreak Lending Suiteâ¢ provides a customer-facing solution through online, real-time software that provides up-to-the-minute loan information and processing, as well as better data integration and workflow automation.
"Daybreak Lending Suiteâ¢ is an incredibly advanced, web-based solution," said Sajal Mukherjee, CEO, SuperSolutions. "It delivered the business results Bay View Acceptance Corporation needed to remain competitive, meet Sarbanes-Oxley certification requirements and grow its business. We were pleased to work with Bay View to achieve a successful implementation of this solution and deliver such dramatic savings over the previous legacy system."
Since 1973, Bay View Acceptance Corporation has been providing franchised and high quality independent automobile dealers with retail contract products that feature extended term and 100% financing for any year, make or model vehicle.