Services

Field Auditing solutions that work for your business

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API

API Development

Inventory information often comes from disparate sources, frequently these are inflexible legacy systems. We have expertise in developing simple API's to enable the automation of source file generation.

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Software as a Service (SaaS)

CheckVentory does not require any software installation. It is a Cloud based Enterprise Platform where audits are created, assigned, reconciled, approved, reported on and stored. Field Audits are conducted onsite using Smartphone Application (IOS and Android) which automatically communicates with the Cloud based platform.

Solution updates and enhancements come as standard and do not require client intervention.

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Your Outsource Partner

For clients who wish to outsource their field auditing, we provide a single solution where we manage the entire process on their behalf. This is a service that can be used on a ongoing or ad hoc basis.

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Database Consolidation

Checkventory is designed to take feeds from multiple sources, enabling our customers to have a simple, accurate and validated view of their entire inventory.

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Report Development

CheckVentory has an extensive suite of reports based on best practice.

Clients often have internal reports that have been used over the years to update stakeholders on Inventory and Credit management. We can recreate these reports within CheckVentory to keep continuity of information representation.

We also create bespoke reports based on evolving client needs.

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Change Management

We provide a change management service to our clients to ensure the ease of process adoption and deployment within your organisation.

Case Studies

Case Study 1: The Distributor - Acme Inc.

Acme Inc. is an Automotive Distributor who funded their own inventory and demonstration vehicles throughout their network.

 

They are a subsidiary of Acme Distributors International and are the sole distributors of ‘Brand A’ and ‘Brand B’ vehicles in a small European market. Due to the limitation of credit within their market Acme Distributors could not find a suitable banking partner to fund the inventory to their dealer network, so instead they chose to mange the process internally.

Acme Distributors were a relatively niche importer and had limited resources to manage the credit process, they had a good relationship with their dealers over many years so they only fully audited their funded inventory annually.

While they never fully comfortable with the infrequency of their audits, they had little choice in the matter. However when they wanted to expand their network the requirement to audit newer (less known) dealers became apparent.

They chose CheckVentory as their preferred auditing platform due to its ease of implementation, security and cost.

The Result: A full inventory audit by their entire dealer network every 2 weeks.

The Process: During the evaluation period, Excel files were uploaded on weekly basis and Acme’s Administrator was trained on how to use the CheckVentory platform. The successful trail was turned into a full rollout where an API was developed to take an automatic feed of Acme’s data daily.

Within 4 weeks of starting the rollout, all Acme’s dealer locations were conducting their own audits on a regular basis. Acme did not have to hire any additional staff to manage the process and indeed CheckVentory reduced the workload of the already overworked administrator, despite the fact that they were increasing the frequency of their audits by 260%.

Case Study 2: Construction Bank

Construction Bank is a captive bank for a large construction equipment manufacturer with a global presence. They provide both dealer and customer finance and are regulated by the national authority in each local market.

Construction Bank is the banking partner to Construction local Limited, the National Sales Company (Distributor) of Construction Equipment International. At the NSC’s request, Construction Bank provide millions in inventory funding to the entire sales network.

They were using an external agency to conduct audits of the network but these were expensive and slow to conduct, as a result they were only run on a monthly basis. There was also a issues with the consistency of the audits as they were principally conducted with the aid of Excel printouts and took a significant amount of time to reconcile. There was also a challenge to compile a consolidated database of inventory; they had to combine several data sources from legacy systems into one stock list.

After a short evaluation of CheckVentory, Construction Bank decided to deploy the auditing platform across their network. As the process was so simple they trained their dealers, regional staff and the existing external agency to use the system. As a result they standardised the auditing process irrespective of the auditor. The real-time reconciliation meant the audits were far more efficient.

CheckVentory built an API that took a feed from 4 different sources belonging to both the NSC and the Bank and consolidated them into one comprehensive database, which was easily exported back to the customer for their own use.

As a result of using the CheckVentory Platform, Construction bank increased the frequency of cash collection, increased visibility of inventory in their sub dealer network and resolved (exceeded) major compliance and control requirements that had been requested by their internal auditing department.

Case Study 3: Dealer Franchise Group

Big Auto Group is a Dealer Group made up of 25 dealerships serving over 14 different franchises nationwide.

The dealer group had expanded significantly over the last 18 months and needed a way to centrally manage the vehicle inventory across their network of sites. A small team in the accounts department used to manage this periodically but the expansion had resulted in higher volumes of faster moving stock. As the value of the inventory exceeded €30m, the requirement to control and reconcile it back to the book stock had become an increasingly important task.

Added to this was the complication that a significant amount of inventory resided with 3rd parties, be it compounds, vehicle converters, bodyshops, trade sellers and auction houses.

CheckVentory was approached to resolve the issue. After fully assessing the customers needs, CheckVentory delivered a fully managed service to the client. This involved CheckVentory providing auditors to conduct the audits at all of their 3rd party sites on a specific date each month. The audits were then processed and a report sent to the client, highlighting any inconsistencies.

This solution proved so effective that it was quickly deployed to all of their internal sites also

WMI-World Manufacturer Identifier

Origin of Manufacturer and Type of Motor Vehicle

VDS - Vehicle Description Section

Vehicle attributes like engine, Body type, and Check Digit

VIS - Vehicle Identification Section

Manufacturer Plant and/or Serial Number

Your Inventory. Your Control.