Industry News: Around the Industry
SGEF Germany Implements CASSIOPAE Software for Loan Management
5 August, 2013 (Paris) - CASSIOPAE, a leading global asset finance and asset portfolio management software provider, today announced that it has implemented its CASSIOPAE V4 software application for the administration of loan business at GEFA Gesellschaft für Absatzfinanzierung mbH [“GEFA”].
As one of the leading equipment and vendor finance companies in Germany, GEFA offers loan,leasing, hire purchase and insurance solutions for mobile assets. GEFA’s products and services are offered under the brand “Societe Generale Equipment Finance”. Drawing on the sound market and industry experience it has built up over more than 60 years, GEFA supports companies investing in machines, industrial equipment and commercial vehicles. GEFA also offers inventory and sales finance solutions to its vendor partners in order to boost their sales. Since optimal financing facilities require solid industry and project knowledge, GEFA focuses on the fields it knows best: Transport, high-tech and industrial equipment. As a part of the international network of the Societe Generale Equipment Finance, GEFA is able to support vendor partners in 25 countries. Find out more under www.gefa.de.
GEFA’s KB-Online loan agreement administration system that has been used for more than two decades has been replaced by the CASSIOPAE standard software as part of the KBX project. Due to various process and technology dependencies, this has been a major change of systems and was a challenge for the interdisciplinary project team. In a first phase the receivables sold by GEFA-Leasing GmbH to GEFA were transferred from KB-Online to CASSIOPAE. Since then, all existing contracts and all new transactions are exclusively administered in the CASSIOPAE system. As the way in which this application is operated fundamentally differs from the former KB-Online, comprehensive training was provided for the involved departments concerned. In a second phase CASSIOPAE has been established for new business and aftersales services. In a final phase the existing business portfolio has been transferred to the new CASSIOPAE system.
“Thanks to the individual engagement and substantial commitment of all involved parties and team members we were able to realize this very complex and sensitive change successfully. We are close to the end of the project and at the beginning of the intended lifecycle of use, so we continuously count on CASSIOPAE´s experts and quality in order to serve the various business demands and to meet the expectations,“ said Michael Quint, SGEF Chief Information Officer.
“This has been an ambitious project with an excellent partnership between GEFA´s business and IT teams as well as the CASSIOPAE experts,” Franck Jacovlev, EMEA Finance Market Director for CASSIOPAE, mentioned. “This challenging GEFA project demonstrates again the ability of CASSIOPAE software to meet the requirements of the credit industry,” he continued.
About Societe Generale
Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognized on its markets, close to clients, and chosen for the quality and commitment of its teams. Around 160,000 employees, based in 77 countries, accompany more than 33 million clients throughout the world on a daily basis. Societe Generale is also a significant player in specialized financing and insurance (mentioned above), private banking, asset management and securities services. Societe Generale is included in the socially-responsible investment indices FTSE4Good and ASPI. For more information, please visit www.societegenerale.com.
CASSIOPAE global finance and asset management solutions support hundreds of billions of euros and millions of assets in live lease and loan portfolios for more than 300 customer sites in 35 countries. As a multi-lingual, multi-currency solution, CASSIOPAE’s lending, leasing and asset management software offers a configurable web-based user interface and leverages industry-standard technology including Web 2.0 Rich Internet Application technology, Oracle® DB, Unix®, Linux®, and Windows® environments. For more information, visit www.cassiopae.com.
EMEA Finance Market Director
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