De Lage Landen selects APAK to implement Commercial Finance Technology System

6 August 2008

De Lage Landen has chosen APAK to support its commercial finance technology requirements by implementing ‘WFS’, the market leading stock-funding solution for Europe. The new system is now running live, replacing the incumbent third party software in just three months.

With offices and joint ventures in more than 30 countries worldwide, De Lage Landen is a global provider of high quality, asset-based financing solutions. The company’s expertise includes inventory finance and floorplanning. A sophisticated wholesale and inventory finance application was needed to fully automate De Lage Landen’s stock funding operations across specialised industries, which include food and agriculture, office equipment and technology, materials handling and construction, healthcare, and transportation.

Peter Johnstone, VP and General Manager of Commercial Finance for Europe at De Lage Landen is delighted with APAK’s system, which he views as the platform for providing a pan European, ‘Commercial Finance’ service:

“De Lage Landen required a specialised solution with multi-national functionality that would allow us to support local dealers’ specific country requirements for floorplanning and inventory finance throughout Europe.

‘WFS’ matched our needs exactly and was implemented smoothly by APAK’s experienced financial systems team. The new software is capable of facilitating high volume unit processing, and significantly reduces the overhead of providing a dealer stock funding service. WFS is already running live at De Lage Landen in the UK, and we have plans to roll the system out to Germany and Spain by the end of this year”.

Tony Allen, Business Unit Director at APAK, sees the latest WFS installation as further evidence of the growing requirement for progressive, global stock-finance applications:

“APAK now has live operations in Denmark, Finland, Germany, Norway and the Republic of Ireland, as well as the UK. We are of course very pleased to support De Lage Landen’s European business aspirations in commercial finance, helping the company to provide a multi-national inventory finance service by supporting local dealer currencies and languages in multiple countries”.

WFS is provided to De Lage Landen on an ASP basis (Application Service Provision) or bureau basis. Many of APAK’s clients choose to implement the system using this delivery model because of the minimal capital outlay required, which allows finance providers to concentrate on their core business competencies.

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