Spireon introduced a revamped version of its collateral management platform to help vehicle finance companies on Wednesday. What the company dubbed GoldStar CMS is being billed as a revolutionary new tool geared to reduce the time and costs related to funding and servicing auto loans dramatically.

The company highlighted GoldStar CMS as the next generation of Spireon's award-winning GoldStar GPS. The tool is designed to go beyond simple vehicle tracking to provide what Spireon contends will be the new industry standard for collateral management.

GoldStar CMS features a visual data-rich dashboard, which can allow dealers and finance companies to see at a glance the status of devices, renewals, usage, recent alerts and top device usage, then drill down to take action on alerts before a problem escalates.

The software solution features an intuitive user interface and tools designed to help simplify the loan process for dealers and finance companies, allowing them to process more contracts more quickly.

Additional features include:

— Mobile VIN Scanner: A smartphone app that can allows dealers to scan a vehicle identification number (VIN) and automatically populates a vehicle's year, make and model into their GoldStar system. This new app removes the manual-entry process that takes significant time and introduces errors.

— Reference Genie: An innovative, less-invasive new way for dealers to check a customer's references (work, home address, etc.) based on the locations they frequent instead of manual phone calls. Reference Genie's patent-pending automated process speeds up reference checks by removing the human element, improving privacy and accuracy.

— Location Genie: A solution that helps dealers forecast reliable collection locations at any given time and day for repossession purposes. Dealers can select data over 30, 60 or 90 days to determine the most likely location based on historical data, helping reduce time and cost associated with vehicle recovery.

— Group commands: Can allow dealers to create groups of vehicles and assign common policies and rules for GeoFences, heartbeats, delinquency alerts and more. Group commands allow dealers to get set up more quickly, speeding the loan process for them and their customers.

— Device health tools: Checks factors that impact the overall health of the location device, including car battery strength, and strength of cellular signal and GPS signal. This tool is designed to help dealers know if action is needed, such as tracking a vehicle with a dead battery.

— Variable heartbeats: Pings a device in intervals based on the dealer's preference, providing around the clock locations over time for a vehicle. This helps speed reference checks and allows dealers to process loans more efficiently.

— Custom reports: The dealer can select reports and alerts that make the most sense to their business, including the establishment of bulk GeoFences, quick fences and more.

"Spireon has been a leader and innovator in vehicle finance for the past decade, enabling more than 3 million buyers to secure vehicle loans,” Spireon chief executive officer Marc Brungger said. “With GoldStar CMS, we have reached new heights. GoldStar CMS is a business enabler for our dealer customers, allowing them to put more buyers into more vehicles.”

Brungger also noted GoldStar CMS is based on Spireon's award-winning NSpire M2M Business Intelligence Platform and backed by the Pure Gold Performance guarantee that ensures 99.9 percent uptime.

Built from the ground up, NSpire is a cloud-based environment comprised of best-in-class servers, databases, networks and data centers. Today, Spireon has more than 1.9 million active subscribers on the platform and collects more than 5 billion data events each year from multi-vertical markets.

"GoldStar CMS was designed to be brilliantly simple,” Spireon chief product officer Jim Brady said. “By using the NSpire platform as the starting point, we are able to deliver to dealers a collateral management solution that is powerful, responsive and easy to use, allowing them to better serve their buyers. No other solution can match the capabilities that Spireon is bringing to market with GoldStar CMS.”

Dealers and finance companies can learn more about GoldStar CMS by visiting http://www.goldstarcms.com.