Tricolor Selects IBEAM Software from Consolidated Asset Recovery Systems for Repossession Management
Tricolor announced today that it has selected the IBEAM web portal for managing the repossession of non-performing assets in their automotive loan portfolio.
RALEIGH, N.C., Nov. 07, 2018 /PRNewswire-PRWeb/ -- Tricolor has announced that it will standardize on the Consolidated Asset Recovery System's IBEAM platform for repossession management. IBEAM (Internet based electronic asset management) is a web-based portal that provides analytics, status, and field-based updates for task.
"IBEAM provides us with efficiencies in managing our direct relationships with agents as well as our Forwarding partners in a single platform," said Jose Gonzales, President COO, Tricolor. "Leveraging one platform for all of our repossession needs has allowed us to realize lower internal resource requirements even as our business has grown. We have been partners with Consolidated for some time and have been using IBEAM. After a extended evaluation, we have standardized on the IBEAM technology solution."
IBEAM helps Tricolor optimize the workflow distribution to a mix of service options managing both direct agent caseload as well as outsourcing to forwarding companies in strategic markets. The IBEAM artificial intelligence (AI) engine can automate this process by using rules that can be customized for each portfolio and asset type taking into consideration geographical location and supplier performance.
"Tricolor has been a great partner they have an excellent business model and have seen dramatic growth," said Terry Groves, Cofounder of Consolidated Asset Recovery Systems. "We are proud to be a part of that success. The IBEAM platform and our services model are flexible and allow clients like Tricolor a choice in how best to manage their portfolio. This provides superior performance with total cost that can be calibrated to the portfolio type or asset value. They can manage and leverage both their agent community and our managed forwarding services in how it best fits their business model."
About
Founded in 2007, Tricolor is a mission-driven company that sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas and Ganas Auto Group in California. It utilizes advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.
Headquartered in Dallas, Tricolor, together with its affiliate, Ganas Auto Group, operate thirty retail dealerships across twelve markets in Texas and California, as well as a shared services center in Guadalajara, Mexico. On a combined basis, Tricolor and Ganas have served more than 44,000 customers and disbursed nearly $800 million in affordable auto loans by using its proprietary model to segment risk.
Consolidated Asset Recovery Systems provides technology and services to finance companies, forwarders and repossession agents that enhances repossession and remarketing performance. Combining comprehensive analytics with real-time performance analytics, status and account updates that can then be used to set parameters in the IBEAM artificial intelligence engine to automate task such as assignment and reassignment to suppliers, assign to auction or transport.
For more information, visit http://www.ez-recovery.com or call (919) 518 2277.
SOURCE S&A Communications
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