A New Dimension in Risk Management
Satellite Guard provides worldwide transparency of mobile assets
Neu-Isenburg, 15 October 2014 – The study "Calculated Control of Risks" presented in February 2014 by Roland Berger Strategy Consultants showed that the market value of banks can be increased by up to 24 percent if credit institutions implement targeted strategies for their risk management. Moreover, the consultancy was able to demonstrate that there is a direct relationship between the quality, i.e. the efficacy of risk management, and a positive profit development.
In its practical implementation, however, this requires concrete solution approaches in terms of how existing risks in the lending and leasing business can be controlled more efficiently. Traditionally, financing or, respectively, the control of mobile assets has here been the Achilles heel or a serious weak spot. Because they are regularly moving – as opposed to immobile assets, i.e. real estate property – and are frequently also not used in accordance with the contract. Accordingly, special loss and default risks will be the result, which would actually justify the continuous monitoring of such mobile assets. However, permanent risk control was hardly possible in practice until now. Any checks had therefore been limited to systematically performed due date checks on location (so-called floor checks) – of course, this can only provide an incomplete or a fragmentary risk protection.
In light of the above, EXCON Services GmbH of Neu-Isenburg developed "Satellite Guard", an innovative telematics solution for the optimization of risk management and for the application in 200 countries worldwide. This system enables the simple, safe and swift checking, monitoring, observation, as well as protection of mobile assets in real time – via the Satellite Guard web interface. GPS technology and intelligent communication equipment will provide banks, leasing companies, fleet managers, lessors and other enterprises worldwide maximum transparency and control over vehicles, trucks, construction machinery, agricultural machinery, boats, containers and other assets.
Flexible applications provide lasting benefits
Focal points for the application of the system are primarily found in purchase financing and sales financing, in fleet management, leasing, car sharing as well as in the insurance industry – a broad spectrum, which can be covered due to the flexibility of the smart service platform developed by EXCON since it allows optimal and efficient integration into existing physical and digital processes.
However, not only the owner will enjoy a handsome extra transparency but the user as well who can use the system to optimize his day-to-day operations. "A car dealer with several locations will be able to significantly improve his demonstration car management if he knows exactly which demonstration cars are exactly at which place or location at any time. A construction machinery dealer who leases his machines on the basis of time will be able to avoid billing errors if he can ascertain precisely the actual periods of use. Managing directors, plant managers, fleet managers and machinery managers in any industrial sector will have better means of overview and control in terms of where which one of their assets is at any point in time and how it is being used," says Ms. Bettina Guggemos, an experienced expert of risk management and performance enhancement in the banking and automotive industry, who had been involved, as a Managing Director of EXCON, in the development of the system.
Successful rollout on the occasion of Eurofinas
Satellite Guard was presented to the public for the first time on 9 October 2014 on the occasion of the annual meeting of Eurofinas/Leaseeurope (Conference of the European Federations of the associations of consumer credit financing as well as the leasing and car rental associations). Numerous participants were able to get an idea of the new solutions. Specifically for Satellite Guard, EXCON also presented a product film, which vividly and clearly shows the system's mode of operation, its application areas and benefits. Several detailed and successful test phases have already been concluded. The system has been tested, inter alia, for its reliability, compatibility and for errors. With the successful proof of concept in these phases, it will soon be possible to realize an extensive pilot project with a renowned partner in live operation.
Satellite Guard meets the requirements of Industry 4.0
Basis of the system is a control and monitoring platform with a rule engine newly developed by EXCON. Clients of EXCON Services GmbH will be provided with individual access to the system. The adaptable rule engine reflects EXCON's industry-specific know-how with 27 years of experience in the area of physical security tests and it offers the client maximum flexibility for adjusting the protection of assets risks or partial portfolio risks. The signals received via EXCON Connect are here processed in accordance with the adjusted rules of the rule engine. Any breach of rules is immediately reported to the respective portfolio manager and, if necessary, defined measures are immediately taken. The entire system is designed as an open smart services platform, which will also allow users, in the future, to integrate smoothly and simply any further applications in the Internet of Things and to offer new solutions in their markets.
Due to the worldwide availability, it is possible at any time to access relevant information of mobile capital goods. The responsive design of the web interface also enables access by tablet PC or smartphone, without any further installation.
Further information is provided at: www.satelliteguard.net
EXCON is a European-wide operating, owner-managed service provider in the SME sector and offers its clients smart services, full service solutions and business process management with technical and methodological expertise and competence. EXCON's service portfolio comprises solutions for critical business processes in terms of results and risks, especially in the following areas: performance management, network management, dealer management, collateral management, risk management, claims management, loss or damage management and fraud management.
EXCON is specialized in the sectors of finances, automotive as well as in the insurance and real estate industry. Additionally, and on the basis of particular projects, the service provider also supports companies of other industrial sectors and markets.With its solutions and concepts, EXCON offers its clients efficient and high-quality services for the optimization of their business processes and service quality as well as for handling concrete economic and legal problems. With its implementation orientation and with more than 600 specialists in 39 active countries, the company assists and supports its clients in long-term protection and enhancement of their economic success and results as well as in their compliance with standards, e.g. in compliance & governance.
EXCON solutions and services combine physical and digital services and are based on in-house developed technology for process control and analysis as well as the support by qualified and specialized EXCON personnel and partner networks. As an outstanding feature, the added-value service provider offers its clients direct online access (via PC, tablet or smartphone) to operative applications, e.g. for contract order awarding, for monitoring or reporting (EXCON Online Services).
Further information: www.excon.com