12th Tech, Inc. and AutoMap announce AutoMap’s electronic vehicle identification technology has been integrated into 12th Tech’s Real-Time Intelligent (RTI) Auditing System, providing an innovative, automated and remote auditing capabilities for the wholesale finance industry. 12th Tech’s RTI system revolutionizes auditing by providing both electronic vehicle identification and dealer self-audit capabilities along with a robust solution for traditional physical auditing.
The integration of AutoMap’s OBDII and Bluetooth-enabled asset identification technology as an option to 12th Tech’s sophisticated, cloud-based and mobile-enabled auditing system allows monthly, weekly or daily audits without requiring an auditor on site, providing reliable, accurate and cost-effective analysis and reporting.
12th Tech’s globally scalable RTI system combines exceptional capabilities for real-time auditing using a choice or combination of auditing methodologies such as electronic vehicle identification, dealer self-auditing, or traditional physical audits using third-party or in-house staff to enable increased audit frequency and more effective risk mitigation while significantly decreasing audit costs.
“The ability to take our strong existing on-lot solution and add this to 12th Tech’s comprehensive offerings is an exciting proposition for wholesale finance companies and their dealers,” Mark Sargeant, CEO of AutoMap, said. “With this partnership, AutoMap enables lenders to have real-time visibility of the location and comprehensive status information of their assets – on a daily, weekly or monthly basis – at a far lower cost than traditional physical audits.”
Mark Abrams, CEO and founder of 12th Tech, said, “Clients want faster and more intelligent ways tounderstand where their inventory is. Electronic identification enables more frequent audits at a much lower cost. AutoMap is one of the leading vehicle identification technology companies in North America and so we are excited to be working with them to integrate and offer their identification technology as part of our Real-Time Intelligent Auditing System.”