Spireon highlighted that its automotive solutions group reached $102 million in revenue for 2013 and now is actively deployed in 1.5 million vehicles within the automotive finance industry, including a wide array of buy-here, pay-here dealers.
Spireon also announced that it has deployed more than 800,000 units of its Talon GPS tracking device since its introduction a little more than a year ago with record-breaking units shipped in January. Talon utilizes Spireon’s patented automotive asset recovery process that underpins all the company’s information platforms.
Spireon’s SaaS-based automotive collateral management platform is designed to mitigate risk in subprime lending for BHPH dealerships. Spireon offer a range of flexible packages for dealers and lenders to grow with their business, ranging from a simple vehicle locate product to a robust, comprehensive offering.
Spireon was also recently recognized as an A-List in M2M Award recipient by market research firm Compass Intelligence, which recognized its automotive collateral management platform as Best Platform in the M2M category during the 2014 Consumer Electronics Show.
According to Spireon chief executive officer Marc Brungger, the record revenue growth and extensive product deployment And usage are attributable to the company’s innovation, knowledge of and attention to the needs of the automotive dealership market.
“We have always been focused on what’s in the best interest of automotive dealers and lenders,” Brungger said. “Spireon’s teams are made up of the best-of-the-best from the BHPH industry—people who know the challenges these dealerships are facing. We know their world intimately, and we have the most expertise to address their needs.”
David Meyer, executive vice president of Spireon’s automotive solutions group, added, “Spireon’s automotive solutions have evolved from a big red locator button into a comprehensive collateral management tool.
“Dealerships and finance companies don’t just want to shut cars off and get them back — they want to manage the process more effectively with information and tools,” Meyer went on to say. “Our products not only help dealers and lenders mitigate risks, they also enable them to offer even more value add-on services.”
Spireon’s automotive collateral management platform provides BHPH dealers with an intuitive, Web-based application that includes rich features such as:
• Location and shutoff
• Interactive, sophisticated mapping
• Comprehensive and customizable reports
• Data security and access features
• Customizable geozones
• Full turnkey installation services
“Our solution is a unique vertical information platform that helps customers reduce operating costs, improve efficiency and drive profitability,” Meyer said. “We have innovated and developed it over the last 12 years with continuous input from our customers and user community. We are in constant contact with our customers, through both our sales force and our product management team, to get their feedback and input so that we can evolve our products according to their needs.”
Spireon Names Senior VP of Software Engineering
In other company news, Spireon recently welcomed Jamie Slattery as its new senior vice president of software engineering.
“Jamie brings over 20 years of blue chip software leadership experience to Spireon,” Brungger said. “His expertise expands and strengthens our company, allowing us to increase our capacity and take more of our software development in-house where we will have greater quality control, agility and flexibility to quickly evolve our solutions to meet our customers’ unique needs.
“At Spireon, we have created a culture That attracts, rewards and retains stellar talent in our industry,” Brungger continued. “Jamie Slattery is one of the best in the business. Our product brands, partners and customers will benefit from his addition to our team.”
In the role, Slattery will be responsible for all aspects of the company’s sof ware product delivery and software engineering. He will work closely with Spireon’s product management team, hardware departments and IT to assure that Spireon continues to deliver best-in-class software solutions that offer a superior level of performance, scalability and reliability.
Prior to joining Spireon, he oversaw 225 engineers as the product development and operations leader at Digital Insight (formerly Intuit Financial Services Division).
“I am excited to work with Spireon’s executive and technology teams to expand our company’s position as an industry-leading innovator,” Slattery said. “Spireon understands that people are just as important as technology, and here we have a powerful combination of both.”