E-contracting: An industry first in automotive finance
A leading provider of financing and insurance services to automotive and commercial vehicle dealers and retail consumers wanted to transform its point-of-sale (POS) processes by re-engineering and standardizing them across brands and geographies. The company also wanted to decrease the process turnaround time through automation.
The company had been established after the merger of two automobile majors, resulting in several disparate processes, legacy systems, and convoluted workflows. Among the challenges the company faced were dealer and customer dissatisfaction, and reduced sales and profitability.
Infosys partnered with the company to revitalize its POS processes through a series of projects:
A unified system and portal for end-to-end POS applications
Infosys reengineered the information systems landscape, consolidated processes, and automated the workflow. A centralized Web-based dealer portal offered a unified view on all financing-related functions to the dealer. Interfaces were provided to more than 20 disparate systems, including identity management, credit evaluation, marketing, electronic fund transfer, and content management systems.
An e-contract dealer POS application
Infosys designed and implemented the automotive industry's first e-contract dealer POS application. The application enabled dealers to create legal automotive financing contracts online. The system automated the process and reduced cash transaction time. The solutions by Infosys helped the company reduce costs, improve efficiency, and increase channel partner and customer satisfaction.