to market
A new point-of-sale IT system for motor dealers and motor finance
brokers is about to be launched.
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POS Xpress is an internet-based PoS system tailored to the needs of
“smaller finance houses and brokerages”, Layne Consulting, which
developed the system, said.
While promising to provide the “full feature set of traditional
bespoke asset finance systems”, such as CAP data, bank and address
validation, and text message updates, POS Xpress will be offered to
customers on a pay-as-you-go basis, said director Daniel
Layne.
“This is something new – if clients do not like the system and do
not use it, they do not have to pay,” Layne explained. He compared
the payment model to internet services such as eBay and Amazon,
where users set up an account for free, and only pay when they use
the service.
“We have spent a lot of time making this as easy to use as
possible,” he added, noting that it is “perfectly possible” for a
client to start to use the system at 9am, and to be processing the
first proposal three hours later. “The training needed by staff
before they can use the system is minimal,” Layne said, “which is
such an important consideration for the smaller business.”
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By GlobalData As well as the pay-as-you-go, “plug-and-play model”, POS
Xpress can also be customised to fit with a client’s own
requirements, such as specific risk management procedures or credit
underwriting criteria, for example. More traditional licensing
agreements can also be arranged, Layne said.
In addition, companies which wish to host the system themselves
rather than relying on the web-based hosting provided by Layne
Consulting are free to do so, Layne said, although he expected that
the majority of his target market would prefer the “convenience” of
an off-site system.
Layne has seven years’ experience in the motor finance industry,
including a position with White Clarke Group before he became an
independent consultant, working with VW Financial Services and
Lombard, among others.
