On Friday, Xcira unveiled its new floor plan management system, which will begin its launch sequence at BSC America’s Bel Air Auto Auction later this month.

Designed to allow an auction to manage its own floor planning program for its dealers more efficiently, the company highlighted the system is the most recent in a series of cutting-edge technological solutions developed for the auction industry by Xcira, creator of the patented OnLine Ringman program.

“Xcira continues to support the auction industry with innovative technology,” Xcira chief executive officer Nancy Rabenold said. “Our newest product, the Floor plan Management System, has been designed to optimize the workflow at the auction level, reducing the steps and user actions required to floorplan vehicles.”

Rabenold indicated that the new system integrates a number of processes that previously were managed separately by auction finance departments. The solution can accommodate:

— Variable rate interest calculations
— Multiple fee tables
— Flexible dealer curtailment schedules
— A tool for calculating payment estimates

Rabenold also pointed out the program also can provide a central location for collection notes, compliance information, notification of expirations, lot audit reporting and vehicle loans across a historical portfolio. 

“We’re excited about the system’s ability to streamline the floor planning process for auction finance departments,” Rabenold said.  “Using a tablet or other mobile device, an auction representative can meet a dealer in the auction lane and floorplan a vehicle right at the point of sale.”

“In addition to its very extensive core capabilities, our new Floorplan Management System also accommodates a number of customized reports, including dealer vehicle reports, outstanding balances, aging, vehicle payment history and dealer credit balance at external auction houses,” Rabenold continued.

BSC America president Charles Nichols described what it’s been like to be involved in the program launch.

“The auction team at Bel Air Auto Auction has enjoyed collaborating with Xcira using its agile development process to build this great new auction tool,” Nichols said. “We look forward to the work flow improvements that this enterprise-level Floor Plan Management System will provide, which will allow us to better serve our dealers."

Rabenold also mentioned that future enhancements to the program are planned, the least of which includes a mobile-based lot check capability and integration with price guide books and an auction’s management system. 

Xcira will demonstrate the new product during the upcoming NAAA Convention in Orlando, Fla. Officials will stationed in the Escambia Boardroom at the Hilton Orlando Bonnet Creek Hotel from Sept. 22-24.

An appointment can be arranged by calling Xcira at (813) 246-3558 or by sending a message to Mark Cameron at mcameron@xcira.com.