Issue link: https://read.dmtmag.com/i/536070
TCF Inventory Finance, Inc., a subsidiary of TCF National Bank and an indirect sub- sidiary of TCF Financial Corporation, and Ariens Company announced a definitive agreement to provide inventory financing to more than 1,500 Ariens and Gravely dealers across the U.S. and Canada. TCFIF will be the exclusive financing provider for its portfolio of lawn and garden equipment. "TCF has a proven track record in the out- door power equipment industry, and we believe this new relationship will be mutually beneficial to Ariens Company, TCF and dealers," said Mark Olsen, Ariens Company's chief financial officer. "As our dealer network continues to grow sales of Ariens and Gravely products, we look for partners who can meet their changing needs and the needs of our customers." The Ariens Company portfolio of brands includes some of the oldest and most respected names in the outdoor power equip- ment industry. The multi-year strategic alli- ance with TCFIF will enable dealers to stock a wide selection of all Ariens and Gravely products including snow blowers, riding mowers, walk behind mowers and commer- cial outdoor power equipment. "We are pleased that Ariens has selected TCF Inventory Finance to be its exclusive finance provider for dealers of the Ariens Com- pany in the United States and Canada," said Ross Perrelli, president and chief executive officer of TCF Inventory Finance. "We are con- fident that TCF Inventory Finance will deliver a stable source of capital and outstanding cus- tomer service to Ariens' dealers." TCF vice chairman and president Craig Dahl added, "Backed by the strength of our well-capitalized bank, TCF Inventory Finance continues to provide industry-lead- ing financing solutions and best-in-class ser- vice for its customers. We're pleased with the continued momentum of this business and its ability to partner with many of the world's most respected brands." CIO REVIEW RECOGNIZES MAXIMTRAK TECHNOLOGIES For the second year in a row, CIO Review magazine has recognized MaximTrak Tech- nologies as a leading automotive technology solutions provider, this year featuring company president Jim Maxim, Jr. as its cover story. CIO Review profiles technology solutions that can redefine the business goals of their users. In naming MaximTrak, it noted that the company's digital F&I platform exceeds dealer- ship and customer expectations. This tool called FLITE does so by combining the latest digital technology, streamlined transaction processes, customer-centric educational videos, visual sales presentations, interactive surveys and custom package building to improve margins and product penetration for auto, powersports and RV dealerships. Readers can download an excerpt of the MaximTrak article from the Max- imTrak website (www.maximtrak.com). "CIO Review and its review board recog- nized that the digital F&I technologies and customer-centric focus we pioneered for dealers are becoming understood as critical focal points of the automotive industry," Maxim said. To assist with its 2015 evaluation of contenders, the magazine assembled a panel comprised of CEOs, CIOs, chief marketing officers, venture capitalists and analysts. "In our selection, we looked at vendors' capabilities to fulfill the burning need for cost-effective and flexible solutions that add value to the complex automotive land- scape," the editors said. PSB DIGEST 16 • July 13, 2015 • Powersports Business FINANCIAL www.PowersportsBusiness.com Some dealerships prefer to use a clip- board hung outside the finance person's office. Others use an online service like Google Docs to post a spreadsheet that can be accessed from any computer in the dealer- ship. The key is to keep it updated. You can also add a section to log the time the cus- tomer will be in to complete his or her paper- work if he or she had to leave. At that point the salesperson should never have to wonder about the status of a deal, nor should he or she be interrupting the finance manager to ask about the status. OUTSOURCE WHERE IT MAKES SENSE In general I am not a huge fan of outsourc- ing. One place that it makes a lot of sense is with some of the legal forms in the finance office. There are credit providers that will also help you automate several of the newer legal requirements of your finance office. Here are some of the things they can help you with. 1. They can run the customer through the OFAC SDN list and alert you if they find a match. 2. They can help you identify red flag risks by checking for inconsistencies in customer information or unusual activity. Many credit providers will also give you questions to help you identify possible fraud. 3. Send out adverse action notices for you. The dealerships I know of that use this service have told me that the cost is reason- able enough that they couldn't do it cheaper in-house. 4. Provide you with the credit score disclo- sure to give to your customers. These things are not by any means the only things that can be done to streamline your finance office. My hope is that this gives you some ideas and gets you thinking about how you can make your office more efficient and productive. PSB Steve Dodds II is a moderator, trainer and con- sultant for Gart Sutton and Associates with a focus on sales and finance departments. Contact him at info@gartsutton.com. DODDS CONTINUED FROM PAGE 14 TCF Inventory Finance to provide floorplanning for Ariens, Gravely dealers