Wholesale financing underpins the highways of the world, and wholesale finance software enables its scalable impact. It requires burdensome operational processes to service these loan portfolios, manage risk, and ultimately be profitable for lenders and manufacturers.

Lenders that offer wholesale financing solutions typically have to invest heavily in back office teams who are responsible for manually conducting on-site audits, tracking data and reporting, and servicing loans. Multiple systems that require aggregation may be left open to risk and errors.

At Vero, we believe innovative software solutions can relieve the operational burden and improve margins, all while significantly reducing risk:

Managing and Simplifying Workflows

Wholesale finance software solutions are now readily able to aggregate and translate data into streamlined actions. Multi-step audits and analyses can be transformed into one-click dashboards, saving time and offering better transparency into existing records. Not to mention eliminating the need for on-site audits performed by lenders. With the right technology partners, dealers are able to perform self-audits. Automated data notifications enable credit officers to understand the status of their lines of credit, and make decisions during underwriting.

Wholesale Finance Software Allows You to Outsource Operations

Banks with limited resources can rely on software to provide servicing on wholesale loans and support their dealerships. Instead, banks can focus on managing relationships and expanding their reach, rather than being stuck resolving administrative challenges.

Expand Access to Credit

Dealerships are capital intensive businesses who often rely on floor plan financing providers to help manage liquidity. As banks increasingly invest in technological solutions to handle back office operations, they free up resources to expand their core business lines. This enables them to offer financing to more dealers who need credit to grow their businesses. Especially as financial inclusion of minority and women owned business becomes increasingly important, particularly in regional and community banks, software solutions can help bridge the gap.

As more banks adopt and invest in software solutions to manage their wholesale financing offerings, we believe there will be a greater emphasis on utilizing simplified processes to manage risk. Improved data management offers views of key metrics, automated alerts, and real-time observations. With the integration and growth of open banking, we expect banks and OEMs will also more effectively monitor transactions. In the age of enhanced need for risk mitigation and cybersecurity, risk management will likely become a core focus for future software offerings.

If you have a portfolio and are looking to upgrade how you operate, consider contacting our team of experts today to learn more about the best technology solutions for your inventory financing needs. We are proud to work with Sopra Banking Software to offer a comprehensive, trustworthy, and user-friendly loan management system.