Toyota Financial Services (TFS) on Jan. 5 announced a major application deployment endeavor in its automotive wholesale floorplan division. TFS has signed an agreement with DataScan Technologies to implement DataScan's Wholesale Management System (WMS), Collateral Management System (CMS) and Dealer Access System (DAS). Additionally, TFS has chosen DataScan to host the suite of products online via its Application Service Provider (ASP) solution.
TFS will retire its current internal legacy system to deploy WMS and CMS, which are fully integrated wholesale floorplan accounting and risk management solutions. According to DataScan, DAS is the first application of its kind in the industry to offer online wholesale floorplan functionality for dealers with access via the Internet. DAS will provide TFS' financed dealerships with secure online access to request funding for new loans, initiate payments, and print reports and billing statements. The new application will also provide online access to other floorplan loan information.
"We continually strive to find better ways to improve our wholesale division and better service our Toyota dealers," said Shaun Coyne, vice president and CIO of TFS. "After much due diligence, we opted to deploy DataScan's suite of wholesale management solutions to consolidate and simplify the floorplan process."
"Adding TFS to our client list is something we are extremely proud of," added Tom Martin, president and CEO of DataScan Technologies. "By implementing our floorplan solutions via the ASP model, Toyota will have continuous access to the most robust functionality and latest technologies in the industry."
The Toyota project launched in November 2003.
About Toyota Financial Services
TFS is the finance and insurance brand for Toyota in the United States, offering retail auto financing and leasing through Toyota Motor Credit Corp. (TMCC) and extended service contracts through Toyota Motor Insurance Services (TMIS). Lexus Financial Services is the brand for financial products for Lexus dealers and customers.
TFS currently employs over 2,800 associates nationwide, and has managed assets totaling more than $42 billion. It is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corp., a wholly-owned subsidiary of Toyota Motor Corp.
About DataScan Technologies
DataScan Technologies is headquartered in Alpharetta, Ga., and specializes in wholesale finance and accounting systems and services since 1989, with an emphasis in floorplan solutions.
DataScan says it strives to revolutionize the way banks and captive financial institutions manage their collateral, allowing them to work more effectively with quick, secure access from any PC with Internet access. DataScan says its dealership Internet solution for wholesale financial institutions offers closer electronic communications between the lender and the dealer.
DataScan also offers professional field audit solutions throughout the U.S. with Nationwide Audit Services (NAS). DataScan Technologies can be found on the Internet at datascantech.com.
