Toyota Finance Australia

Transforming operations and positioning for growth.

Toyota Financial Services is a division of Toyota Finance Australia Limited which commenced operations in 1982. Today, the company is recognised as one of Australia’s leading financiers with net receivables exceeding $5.4 billion and over 300 highly trained employees.

In addition to providing financial services for both new and late model used vehicles, Toyota Finance also provides a range of personal and business insurance solutions, extended vehicle warranties, roadside assistance and fleet management and finance solutions.

Toyota Financial Services is an Australia-wide business with an extensive network of regional offices and a partnership with the Toyota Dealership network.

Situation

Toyota Financial Services had 15 auditors across Australia performing 160 audits per month. These ‘floor plan’ financing solutions included a mix of bailment and flexible chargeplan / overdraft arrangements.

The Wholesale stock and financial master database was a Lotus Notes based solution. Audits were a manual process involving printing the stock manifest from the wholesale system, recording the sightings on paper, manual reconciliation of the stock exceptions, manually valuing stock using Glass’s manuals and manual payment calculation and processing.

Finally the results were keyed into the Wholesale system for final approvals and reviews. This manual process resulted in:

• Excessive time delays from extracting the vehicle manifest to receiving the audit results

• Dissatisfied dealers from the lengthy, intrusive audits and error prone payment calculations

• Inefficient audits and post audit processing

• Errors transposing vehicle details and audit results

• Time consuming and error prone vehicle valuations using the valuation manuals

Solution

In 2005 Toyota Financial Services implemented the Mobile Auditor solution nationwide in Australia. This involved:

• Rollout to 15 auditors using wireless enabled PDAs equipped with mobile printers

• Real-time integration with the Lotus Notes based Wholesale system:

  • Vehicle manifests were retrieved on-demand in real-time by the auditors from the PDA

  • Audit results were sent to Wholesale immediately an audit was completed on the PDA

• Integration with the Glass’s vehicle database enabling stock valuation and scaling

• Onsite printing of stock and payment reports using the mobile printers

The implementation of a complete end-to-end solution enabled Toyota Finance to remove their manual processes, illegible hand-writing and lost paper from their operations. These improvements translated directly into significant efficiency and effectiveness improvements, higher dealer satisfaction and better control of risk whilst removing unnecessary costs through:

• Faster, more efficient audits

• More timely results – vehicle manifests and audit results are sent / received wirelessly in ’real time’

• More accurate information – manual processes / illegible hand writing are removed from the audit process

• More accurate vehicle valuations in chargeplan / overdraft audits

• More collections and better management of risks

• Powerful management information – easy analysis of trends, exceptions and performance measures

About Us

Netresult Mobility is a Microsoft Gold Certified Partner which provides mobile computing solutions to help all parts of the vehicle supply chain, from wholesale financers right through to consumers, improve the speed and quality of their decisions about vehicles.

We pride ourselves on providing innovative and efficient solutions to the automotive industry. Whether it’s a turnkey or bespoke solution, our development is carried out in consultation with our customers. We understand your business and develop solutions to meet your needs.

Our mobile solutions are aimed at addressing inefficiencies and providing you with competitive advantage. We adopt a low risk approach to developing and providing solutions by only using proven technology and ‘best practice’ project management methodologies

PROJECT DETAILS

Category: Case Studies

Client Name: Toyota Financial Services

Business Issues: Delays in completing floor plan audits, dissatisfied dealers, lengthy intrusive audit process, errors transposing vehicle and audit details

Solution: Netresult's Mobile Auditor - Floor Plan Solution

Outcome: Faster more efficient audits, more timely results, more collections and better management of risks