Integrating Pricing
Every successful equipment finance company has developed a variety of systems and procedures to get business quoted, sold, booked and managed. These include some or all of the following: contact management, workflow, credit scoring, documentation, validation, booking, order fulfillment, asset managements, requoting and rebooking for mid-term changes – and pricing.
Ivory understands that any pricing solution is going to need to be integrated with existing and planned systems in order to produce maximum value, and that companies take a hard look at making whole-sale changes to systems that work for them. We’ve had 20 years of experience integrating our products into existing systems with the least possible disruption. For example:
A large captive used Siebel for all contact management for their sales force:
- A fully customized version of SuperTRUMP integrated with Siebel was installed on the laptops of dozens of sales people spread around the country;
- The sales force works in Siebel. When they need a quote, Siebel accesses SuperTRUMP to create a quote in Siebel;
- Where the quote requires more sophisticated structuring, the user has the option to launch SuperTRUMP from within Siebel, structure the deal in SuperTRUMP and, when finished, close SuperTRUMP and save the deal back into Siebel – the transaction stays in the system, subject to work flow rules and management oversight;
- Pricing parameters, such as cost of funds, are maintained in Siebel and accessed by SuperTRUMP – management controls these parameters; sales uses them automatically.
A regional bank’s internally developed quoting system that was proving inadequate for the complexities of equipment finance:
- The bank’s corporate-standard Risk-Adjusted Return on Assets (RAROC) calculation was implemented in SuperTRUMP;
- SuperTRUMP was deployed over the bank’s internal network for use by the home office pricing team’s use as the advanced pricing and analysis tool;
- A SuperTRUMP Server replaced the home-grown calculation engine in the existing origination system, for greater flexibility and accuracy;
- Pricing parameters, such as cost of funds, are maintained centrally and accessed by both the networked copies of SuperTRUMP and the SuperTRUMP Server that drives pricing on the origination system – management controls these parameters; sales uses them automatically.
