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DataScan Technologies Acquires Virtual Floor Plan Audit Software

December 7, 2007

Alpharetta, Ga. — DataScan Technologies LLC, a provider of automotive wholesale floor plan accounting and risk management services, has acquired a virtual floor plan inventory audit solution — Electronic Portfolio Management (EPM) — from a public accounting and consulting firm, Crowe Chizek and Company LLC (Crowe Chizek). This powerful software now compliments DataScan’s physical floor plan inventory audit services — positioning DataScan as the first company in the industry to offer this innovative combination of services. As a result of the acquisition, clients utilizing Crowe Chizek’s EPM offering will now be provided the service by DataScan.

“By fusing our physical inventory audit outsourcing with virtual technology, we are able to provide an unmatched, best-in-class service,” said Brent Sergot, vice president, DataScan. “Our automotive lending clients can now access and continually monitor a dealer’s performance within 48 hours of requesting a virtual inventory audit report. The pioneering combination of services and value that this integration offers lenders is a major advance in automotive floor planning and a significant advantage for them.”

EPM pulls data from the dealer’s internal systems and uses this information to create a report that illustrates the clients’ risk exposure with a dealership at that specific point-in-time. Within 48 hours of requesting the report, EPM remotely accesses the dealer’s sales and general ledger data and compares it to the floor plan data. This information is then compiled into an electronic report and sent directly to the client.

“The acquisition is a win-win for all involved,” said David Jarret, partner, Crowe Chizek. “DataScan has an excellent reputation and a strong commitment to customer satisfaction and service that yields impressive results. Clients will definitely benefit from the combined services DataScan is now able to offer.”

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