ATD Solutions has launched a new software
package which allows vehicle finance companies to perform bulk
revaluations of vehicle portfolios and monitor exposure to changing
values.
The Leeds-based company’s Asset Valuation
System (AVS) was developed in collaboration with major motor
finance companies including Volkswagen Financial Services (UK),
which the system’s first user.
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AVS uses vehicle valuation data from any
provider, allowing users to specify their preferred option, such as
CAP, Glass’s or CDL VIPDATA. It also has the scope to revalue
fleets outside the UK.
Users can also run AVS using multiple data
sources to compare how valuations differ between industry
experts.
ATD claims that AVS accepts vehicle data in
virtually any layout or format, using a facility that matches the
vehicles to standard industry codes, and that it can revalue
thousands of vehicles within minutes. Users can also track
valuation trends and, for example, monitor guaranteed resale and
buyback values against the latest market data to project
end-of-term equity or loss positions. Data can also be analysed by
variables, such as vehicle make and model, dealer, region and
industry sector.
ATD Solutions director Ashley Clark said: “We
spent two years working closely with major motor finance companies
on the development of AVS and we believe we have come up with a
product that really fills a market need.
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By GlobalDataVolkswagen Financial Services (UK)’s head of
asset risk Neil Weddell added: “AVS has enabled us to process our
monthly contract revaluations in record time without the need to be
dependent on specific industry vehicle codes. Alongside this, the
AVS system future-proofs the business giving us the data
independence and development flexibility required.”
