Case Study: Cars on Credit achieves faster, more profitable growth with Portfolio Plus

Cars on Credit - Customer Case Study

Cars on Credit, part of the On Credit Group and based in Sharon, Ontario, faced fragmented processes and heavy manual work across leasing, accounting, dealer communications and collections. To eliminate redundant data entry, slow approvals and time-consuming tasks like faxing, bank transfers and VIN registration, Cars on Credit adopted the Portfolio Plus integrated banking platform.

Portfolio Plus delivered an end-to-end solution — integrated accounting, loan management, bank transfers, document automation plus DealerWeb, AuctionWeb and the Prospector analytics tool — that automated approvals, enabled dealers to originate and manage floor plans online, and improved pricing and collections. As a result of implementing Portfolio Plus, Cars on Credit reduced staffing needs (managing its loan portfolio with roughly half the resources typical for its size), cut costs, sped origination and expanded product capabilities while continuing to grow its business (On Credit Group has originated over $30M in leases and loans to date).

Cars on Credit

Chris McMunn

President and CEO