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IDS, 12th Tech Deliver Solution to Mitigate Risk for Auto Finance Industry

July 21, 2021, 07:18 AM
Filed Under: Industry News
Related: CaLMS, IDS

12th Tech, Inc., and IDS announced 12th Tech’s new cloud-based Real-Time Intelligent (RTI) Auditing System is fully interoperable with IDS CALMS Compass wholesale/floorplan finance software. This integration enables clients to seamlessly include audit results and data as part of their dealer management activities within the CALMS platform.

12th Tech’s system revolutionizes auditing by providing clients a seamless choice of traditional physical audits or fully remote Dealer Self Audits, Dealer Clearing Audits, or electronic audits, all provided from 12th Tech’s cloud-based and mobile-enabled auditing system. 12th Tech’s RTI Auditing System serves banks and wholesale finance companies with reliable, accurate, and cost-effective analysis and reporting for more effective risk management at a fraction of the cost of traditional auditing systems.

“This partnership provides our customers the flexibility and real-time capabilities to reliably enhance risk mitigation while significantly lowering their cost per audit,” said Jay Edwards, Senior Vice President of Business Development of IDS. “CALMS Compass utilizes 12th Tech’s RTI Auditing System data to make it even easier for our clients to have all of the data they need to effectively manage risk and provide remote audit options to their dealers.”

Mark Abrams, CEO, andfFounder of 12th Tech, said, “12th Tech’s integration with CALMS Compass system provides their clients with a seamless experience and full visibility into their dealers’ financing and audit activities, leading to better dealer support and more effective risk management. Lenders have recognized the need for a robust, flexible, mobile, and easy-to-use auditing system that supports multiple auditing methodologies for clients and service providers, and we are very excited to be working with the IDS to bring these enhanced auditing capabilities to their existing and new clients.”

The 12th Tech’s Real-Time Auditing system is now available for deployment to clients throughout the United States and will be available internationally by fall 2021.

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