COMMERCIAL Dealer Portal
Shaw Systems offers the most up-to-date dealer support systems with an integrated browser-enabled COMMERCIAL Dealer Portal that can be deployed across the Internet or your own Intranet. Commercial Dealer Portal provides your dealers with direct access to their Floor Plan portfolios. This innovative solution moves the work flow out to the dealers, reducing internal transaction processing. Its many robust features include the following:
- Account Summary
- Add a Vehicle
- Automated Booking/Payoff Fees
- Access to Dealer’s Cash Management Account
- Individual Vehicle Inquiry
- Inventory Listing with Sort Option
- Payment/Payoff Data
- Line Balances/Rates
- Electronic Statements
- Detailed Billing
Group profiles allow dealers to be related to other dealers and have security access to work with the other dealers’ accounts that are within the same group. A dealer must belong to a dealer group to have access to Dealer Portal. Group profiles are established by the institution, and when dealers are added in the system, they are assigned a Group Code. This code links the dealers and their accounts to other dealers.
How dealers are grouped is user-defined by the institution and typically reflects groups of dealerships that are under the same corporate umbrella or credit facility.
Types of Accounts
Dealers work with specific types of accounts that display on the Portal. The balances are updated as transactions are added to the system. These balances are detailed in the next section.
Bulk Account: The bulk account is a deposit account for the dealer. Dealer Portal displays the original balance, current balance, and available amount to the dealer.
Commitment: The commitment is the line of credit representing the amount of money available for the dealer to purchase inventory. Dealer Portal displays the original line amount, the current balance, and the amount currently available for purchasing inventory.
Floor Plan Unit: The unit is a draw against the commitment for purchasing inventory. Dealer Portal displays the original and current balances of the loan.
Add Floor Plan Unit
Once a commitment is selected, a new Floor Plan unit is easily added to that commitment. As new units are added, the used balance of the commitment increases, and the available balance decreases so the operator can monitor the monetary activity as it is entered.
When a unit is added to a commitment, the transaction is immediately added to the Transactions Panel of the Portal. Operators can continue adding new units to the same or different commitments.
Pay Off a Floor Plan Unit
An operator can pay off a Floor Plan unit on a commitment by clicking a check box. The transactions are entered into an input set that is processed in the Company/Ops Area during nightly processing. The effective date of the transactions is the current processing date.
When the payoff transaction is processed in Dealer Portal, the transaction amount is automatically set to the accruing balance amount, which is the current principal amount owed. The system generates a principal curtailment payment with a transaction. With the payoff transaction, COMMERCIAL Dealer Portal generates a one-time ACH transaction from the dealer’s financial account to pay down the unit’s balance on the commitment.