Advantage GPS says it’s found a solution upgrade to help with one of the most tedious tasks for buy-here, pay-here dealers and finance companies that often participate in the subprime space.
On Tuesday, the Procon Analytics company that looks to capture and translate raw data into actionable business intelligence to assist in the mitigation of financial losses, enhanced its analytics platform with a vehicle identification number (VIN) verification feature. The new feature is aptly named VIN Verify.
Advantage GPS explained that it created VIN Verify to seamlessly identify a vehicle’s VIN along with its make, model and year. Advantage’s Evo GPS device can read the VIN data from the vehicles onboard diagnostic port and populates the information on its user-friendly dashboard.
The company pointed out this proprietary enhanced technology eliminates the need to manually enter the VIN into the system — ending inaccuracies and wasted time.
“The existing antiquated technology in the marketplace requires a manual entry or scan of the VIN number,” Advantage GPS president David Meyer said in a news release. “There’s no authentication that the GPS unit is connected to that specific vehicle.
“When our Evo GPS unit is installed VIN Verify collects the VIN information digitally. It’s very satisfying that once again we are the first to bring exciting new technology to the market,” Meyer continued.
Advantage GPS reiterated that it recognizes one of the most tedious tasks BHPH dealers have when adding a financed vehicle into their database is entering a complicated 17-digit VIN number comprised of letters and numbers. VIN Verify can eliminate the chances for incorrect information being entered or entering a correct VIN into the wrong finance agreement.
The company stressed that having accurate data is “absolutely necessary” for dealers to be fully compliant with related finance or third-party finance companies. VIN Verify gives retailers full confidence the vehicle they financed is the correct vehicle and protected by Advantage GPS.
When VIN Verify is activated, a simple keystroke on Advantage GPS’ user-friendly application can collect the VIN then populates the dashboard along with the vehicle’s make, model and year.
“Now obsolete, old VIN scanner technology does not notify the dealer if a device is removed and moved to another vehicle,” Advantage GPS said.
The company believes VIN Verify will be an important tool for recovery specialists, as well.
Advantage GPS explained recovery professionals will have immediate access to the vehicle’s VIN, giving them the “ultimate fingerprint” to identify the right asset. Meyer said the new technology was immediately embraced by one of Advantage GPS’ partners — the American Recovery Association.
“Every day we work hard at improving our hardware, software and innovate new solutions that give our clients increased operating efficiency, and compliance,” Meyer said. “VIN Verify is our latest innovation added to our predictive analytics platform.”
“We are very pleased to be the first GPS provider to offer VIN Verify,” Meyer went on to say. “Since we launched in early 2017, we now have more than 4,000 automotive clients and have deployed over 850,000 devices.
“We will continually innovate to enhance our products, software and customer services, and look forward to more announcements in the near future,” he added.