Banking
From Hacking to Auditing: How Penetration Testing Principles Can Help Improve Your Floorplan Funding
For wholesale risk professionals, business risks appear in various guises. Two processes that can help mitigate these risks are penetration testing and vehicle inventory auditing. While seemingly disparate, these assessments share surprising parallels that are useful in risk management strategy. Identifying Security Weaknesses Penetration testing involves simulating an attack on a computer system or network…
Read MoreDataScan Launches uVerifi, a Revolutionary Digital Auditing Tool for Wholesale Lenders in the USA and Canada
DataScan, the leader in providing solutions for wholesale asset financing and inventory risk management, has partnered with CheckVentory, an innovative software-as-a-service provider, to bring uVerifi, a game-changing digital auditing tool, to the US and Canadian markets. With an exclusive agreement for North America, DataScan will be the go-to provider of this cutting-edge technology. uVerifi is a…
Read MoreReal-time Visibility and Building Loyalty: the Key to Successful Dealer-Funder Relationships
Today we interview Adrian Walsh, CEO and founder of CheckVentory. In this short Q&A, Adrian explains his background and how he came to start CheckVentory. He discusses the challenges he faced with manual inventory audits and how CheckVentory began as a way to address those issues, the importance of dealer-funder relationships, and the advice he…
Read MoreAre Your Risk Management Policies Sufficiently Refined?
Do you have the detailed information you need to make the right decisions? Floorplan finance is commonly used in the automotive industry by dealers to purchase inventory. However, there can be a fair amount of risk for floorplan finance lenders since they don’t have complete control over the vehicles on which the loan is secured.…
Read MoreModern Dealer Audit Technology: the Evolution of Dealer Self Audits
The COVID-19 pandemic has further accelerated the adoption of technology-enabled audits by funders, with travel restrictions limiting the ability for auditors to visit dealership sites. However, for some time before then, funders increasingly recognised that traditional, paper-based manual audits are no longer enough, with many floor plan funders exploring new technologies to support the audit…
Read MoreDealer Floor Plan Financing Explained
In the automotive industry, the terms floor planning, stock finance, and floor plan financing are frequently used. Floor plan finance is a form of funding used by organisations such as franchised and independent motor dealers, agricultural equipment vendors, materials handling equipment dealers, and similar. This form of funding is a way of using revolving credit…
Read MoreNow is the Time to Digitise
The current global context is pushing organisations to make better-informed, faster decisions to survive in a rapidly changing environment. As organisations begin to shift from the recovery phase of COVID-19 to the renewal, many are focused on what comes next and capitalising on the changes made to the business during the height of the crisis. One question…
Read MoreCheckVentory allows car dealers to self-audit (SAudit) more accurately
When most people see shiny new cars on a garage forecourt they don’t know that the dealer doesn’t own the cars. A financial institution or the distributor for the brand they represent does,” says Adrian Walsh founder of CheckVentory, an automated stock checking system designed to replace manual inventory control in high value asset sectors…
Read MoreKeeping stock pays dividends
Early career experiences often provide the seedbed of inspiration for future enterprise. In the case of Adrian Walsh, a combination of careers in the information technology and automative industries combined to provide the idea for CheckVentory, a new firm that recently won the 2015 PwC Docklands Innovation Award. While working as MD for one…
Read More