At the end of 2016, BMW Group Financial Services (BMW FS) began the roll out of its ‘Integrated Delivery of a European Application Landscape’ (iDEAL) program.
The iDEAL program involves harmonising and streamlining a number of core operating systems across the continent. It is designed to integrate three key modules: commercial finance, (Dealer) front-end and the contract management system (retail lease & loan).
The first component has been the Pan-European delivery of Sword Apak’s Wholesale Finance Floorplanning System (WFS) for commercial finance, and was delivered on time and to budget.
Sword Apak was selected for the commercial finance module following a competitive selection process.
Axel Frank, IT-project lead, BMW FS for commercial finance, said: “iDEAL has the ambitious strategy to create standard operating solutions across BMW FS in Europe. In such a bold undertaking, it is always important to get off to a great start.”
Since the successful launch of WFS for both the UK and the Republic of Ireland markets of BMW FS, WFS is now being utilised by 1,143 BMW FS users and has been made available to over 260 BMW Group and ALPHERA retailers and dealer partners.
The project required the migration of 354 retailers, 1,416 credit lines and 63,415 existing loans. The entire process was facilitated by Sword Apak’s API integration layer, which allows connection to 13 surrounding systems.
“BMW FS allowed us to play a very active part within its fantastic team; happy to learn from our expertise in other Pan-European and indeed global applications,” said James Powell, executive vice president, Sword Apak. “We are proud to have partnered with BMW FS to hit their first major milestone on schedule; now we are gearing up to accelerate delivery to even more roll outs.”