Banque PSA Finance finances and manages around 105,000 vehicles in France, mainly on behalf of large corporate fleet customers. It is one of Sofico’s oldest customers and was originally using the previous generation Leasebase system across the region to manage its extensive and complex fleet operations.
The company took the decision to migrate to the Miles solution because of the need to meet the continually changing financial and service requirements of its fleet and dealer customers, and the scope and capability that Miles offered in being able to do this.
Banque PSA Finance also needed to meet new reporting requirements, including financial accounting, following its joint venture with Spanish financial institution, Santander.
The venture, with Santander’s Consumer Finance division announced in July 2014, has established a 50:50 partnership between the two groups in 11 countries, aimed at boosting the competitiveness of Peugeot, Citroën and DS across Europe.
Another factor in the decision to implement Miles was its ability to incorporate two unique product offerings from PSA Finance: "temps plus" and "distance libre".
These two products provide fleet customers with upfront flexibility in the length of the lease period or in the total contract mileage, with the ability to share in any surplus or deficit, and are seen as integral to the group’s customer offering.
The Miles application has initially been integrated into Banque PSA Finance’s complex IT landscape in France, and the implementation project is currently ongoing in Belgium and Luxembourg with the Netherlands expected to start shortly.
One of the key factors in the decision to begin in France was Sofico’s capability to manage and execute the project in French and the company’s knowledge of the French automotive and fleet markets.
Sofico staff from the recently formed Sofico Services France division based in Avignon, Southern France, were involved in the roll-out of the project to ensure that there was local France-based support available after go-live.
Sofico, whose systems now manage in excess of 1m vehicles worldwide, formed its new division in France after the acquisition of French IT solutions company, Car Systems, in July last year. This is the first implementation the new division has participated in and more are expected in future.
Sofico’s implementation team worked closely with staff in Banque PSA Finance’s internal IT department to configure and customise Miles in such a way that will allow them to be self-supporting and independent for future enhancements, and in anticipation of the consequent roll-out into the Benelux.
Miles comes with a pre-configured Reference Implementation set-up based on common processes and practices within the leasing and finance industry, which speeds up the implementation process considerably.
In this case, the Reference Implementation was adapted to meet the requirements of the French market, and Sofico’s technical support staff spent more than 150 man-days customising the set-up to cover the country specific information and processes necessary for France.
Gémar Hompes, Managing Director at Sofico, said: “We are delighted to welcome Banque PSA Finance to those of our European fleet customers who have successfully migrated to Miles.
“The implementation presented a number of challenges, and also represented a great team effort with our new Sofico Services France division, which we formed following the acquisition of Car Systems last year. We now fully expect to carry out more implementations with customers in the region as a result.”