IRVINE, CA--(Marketwired - Feb 25, 2014) - Spireon, the leading M2M provider of mobile resource management (MRM) and business intelligence solutions used by companies to maximize their mobile assets and workforce, announced today that its Automotive Solutions Group reached $102 million in revenue and is actively deployed in 1.5 million vehicles within the automotive finance industry.
Spireon also announced that it has deployed over 800,000 units of its Talon GPS tracking device since its introduction a little over a year ago with record-breaking units shipped in January 2014. The Talon deploys Spireon's patented automotive asset recovery process that underpins all the company's information platforms.
Spireon's SaaS-based Automotive Collateral Management Platform is designed to mitigate risk in subprime lending for Buy Here Pay Here (BHPH) dealerships and lenders. Spireon offers a range of flexible packages for dealers and automotive lenders to grow with their business, ranging from a simple vehicle locate product to a robust, comprehensive offering. Spireon was also recently recognized as an "A-List in M2M Award" recipient by market research firm Compass Intelligence, which recognized its Automotive Collateral Management Platform as "Best Platform" in the M2M category during the 2014 Consumer Electronics Show (CES).
Spireon's record revenue growth and extensive product deployment and usage are attributable to the company's innovation, knowledge of and attention to the needs of the automotive dealership market.
"We have always been focused on what's in the best interest of automotive dealers and lenders," said Marc Brungger, CEO of Spireon. "Spireon's teams are made up of the best-of-the-best from the BHPH industry -- people who know the challenges these dealerships are facing. We know their world intimately, and we have the most expertise to address their needs."
"Spireon's Automotive Solutions have evolved from a big red locator button into a comprehensive collateral management tool," says David Meyer, Executive Vice President of Spireon's Automotive Solutions Group. "Dealerships and Finance companies don't just want to shut cars off and get them back -- they want to manage the process more effectively with information and tools. Our products not only help dealers and lenders mitigate risks, they also enable them to offer even more value add-on services."
Spireon's Automotive Collateral Management Platform provides lenders with an intuitive, web based application that includes rich features such as:
- Location and shutoff
- Interactive, sophisticated mapping
- Comprehensive and customizable reports
- Data security and access features
- Customizable geozones
- Full turnkey installation services
"Our solution is a unique vertical information platform that helps customers reduce operating costs, improve efficiency and drive profitability," Meyer said. "We have innovated and developed it over the last 12 years with continuous input from our customers and user community. We are in constant contact with our customers, through both our sales force and our product management team, to get their feedback and input so that we can evolve our products according to their needs."
About Spireon's Automotive Solutions Group
Spireon, the largest provider of automotive aftermarket embedded telematics, provides a wide range of automotive business intelligence solutions. Spireon's GoldStar GPS and LoanPlus CMS information platforms connect automotive dealers and lenders to real-time vehicle information they need to expand their auto loan portfolios and provide financing for a broader range of customers. The real-time rich data also helps protect vehicle assets, reduce risk, decrease costs to drive the bottom line while also providing positive consumer impact.
To learn more about the award-winning collateral management systems powered by NSpire, visit GoldStar GPS and LoanPlus CMS.
Spireon, Inc., is at the summit of business intelligence and committed to going higher. With its corporate headquarters in Irvine, CA, the company emerged in 2011 as the industry leading Mobile Resource Management (MRM) company as a result of the merger of ProconGPS, Inc. with EnfoTrace and PFS, LLC, the top three providers in the MRM space. Spireon connects companies to their mobile assets and workforce through game changing information platforms, giving them the power to manage actionable business intelligence. Its trusted brands include market share leader GoldStar GPS®, EnfoTrace GPS™, FleetLocate®, VehiclePath™ and LoanPlus CMS™. Inspiring companies to reach new heights with powerful Software-as-a-Service (SaaS) based tools; Spireon provides a sturdy foundation on which to optimize performance.
With leading market positions in the fleet, transportation and automotive telematics markets, Spireon, Inc. specializes in developing strong business relationships with leading companies worldwide, enabling it to offer affordable world-class risk mitigation, mobile resource management and location based services to its customers. Spireon is now tracking over 1.7 million total assets today.