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

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

12th Tech’s system provides clients a 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 analysis and reporting for risk management.

“This partnership provides our customers the flexibility and real-time capabilities to reliably enhance risk mitigation while significantly lowering their cost per audit,” Jay Edwards, senior vice president of business development at IDS, said. “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.”

“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,” Mark Abrams, CEO and founder of 12th Tech, said. “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 [team] to bring these enhanced auditing capabilities to their existing and new clients.”

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, according to the company.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.