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| Jigsaw Finance Q1 ‘06 The Board of Jigsaw Finance are delighted to announce a 67% year on year growth in business during the first quarter of the financial year. These results have been achieved by a newly focused Sales team under the leadership of recently appointed Sales Director, Kurt Bradbury and new developments by Codeweavers Ltd which have generated significant finance business through its on-line vehicle retailing solution, Cara. Group Operations Director, James Tew stated “We have invested heavily in IT over the past five years and now have possibly the most advanced solutions in the sector. Through this we can now deliver new models and channels to market to match the needs of the internet user. A consumer wants fulfilment from the web along with convenience. It’s time for the motor industry to move on and it will need to move away from some of its traditional methods otherwise it will be left behind. Those that embrace change will reap the rewards as witnessed by many of our customers.” ------------------------------------------------------------------------------------------------------------------------ Additional ‘Elements’ Elements the Jigsaw Finance Point Of Sale web based dealer system has been further developed to now include Credit Purchase, a 60 month loan agreement with a high residual value. By making cars more affordable increases the numbers of potential customers for a vehicle. The residual values are set specifically to the vehicle so even though they are not guaranteed the customer can have confidence that industry experts are predicting a future value. Setting residuals correctly greatly assists the dealer in retaining the customer. Credit Purchase can be quoted to customers quickly and simply and the product can be easily compared with lease Purchase (Balloon HP), Personal Contract Purchase (PCP) or traditional Hire Purchase (HP). As with all Elements products, Credit Purchase can be proposed on-line with immediate access to documents to speed up the whole process. All Elements user still receive priority service as proposals will go straight to the underwriting team and will have automatically been validated on submission to ensure all the necessary information is captured to make a decision. This year has seen a major growth in elements usage with over 40% of proposals now online. |
Codeweavers secure major contract Codeweavers Ltd the IT division of the Jigsaw Finance Group have secured the contract to produce Southern Finances new underwriting and proposal management application, Alto. Alto will be utilised throughout Southern Finance to manage proposals, underwriting, documentation and payouts. In addition, Southern will also utilise Lucro, a web based Point Of Sale dealer application which will allow dealers of Southern to quote customers, capture proposals details and submit online directly to the underwriters. The roll out of the new technology will commence in August. ------------------------------------------------------------------------------------------------------------------------ Matrix on the move Matrix Credit the specialist non-prime motor finance division of the Jigsaw Finance Group have moved premises to cope with the demand and allow for expansion. Phil McAll, Development Manager stated “ the growth in Matrix Credit and Jigsaw Finance simultaneously has resulted in the need for us to move to our own premises. We are now in a new office some 100 meters away from Jigsaw’s main offices but our dealers will notice no difference to our high service levels. Any proposal declined by Jigsaw Finance will be electronically passed through to Matrix Credit for consideration. Our new office will now give us the ability to double our business over the next 12 months. ------------------------------------------------------------------------------------------------------------------------ Codeweavers on the net @ www.codeweavers.net A new look site for codeweavers Ltd can now showcase many of the company’s developments claimed Roland Schaack, Development Director. “Over the past couple of years we have been developing a number of propositions in addition to our existing portfolio. In the early days we specialised in calculators for the motor finance industry and then developed both broker and lending systems. We have expanded our product range further by pushing calculations to their limits through the production of Cara, our vehicle retailing application. Our understanding of the market covers a much broader spectrum than just IT, through other group activities we have harnessed all the requisite skill sets to develop a consumer proposition where finance, transparency of pricing, convenience and functionality addresses the modern day internet consumer. |
© Jigsaw Finance Ltd 2006