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Sucess Stories

Securitization Solutions for Auto Finance

The Client:

An automotive finance company.

Their Challenge:

Our client was faced with challenges in defining and designing a custom, enterprise software application to support both securitization activities and a like-kind-exchange program.

The NorthBound Solution:

NorthBound Solutions, Inc. (NBS) was engaged to drive the requirements documentation role. This role was expanded to later include project lead, business analysis, systems and interface design as well as testing.

The Benefit:

The first version of this enterprise application was successfully deployed on time and on budget. 

 

IT Roadmap for Fleet Leasing

The Client:

Our client is a national leader in fleet management services. Headquartered in Des Plaines, Illinois,  the firm manages the acquisition, maintenance and remarketing of vehicles for companies operating vehicle fleets.

Their Challenge:

When this major player in the fleet leasing industry initiated a project to revamp its infrastructure for securitization reporting, the project team realized that they lacked detailed understanding of potential future structural requirements and the impact that these requirements would have on their resources and systems.

The NorthBound Solution:

Our client engaged NorthBound Solutions Inc. (NBS) to define a development roadmap and play a strategic role in driving the requirements process on the project. This expertise was needed on both the IT side and the treasury side of the business, where the resources were fully allocated on existing projects  NBS performed a Rapid Information Assessment to fully document the existing securitization process and the future system requirements.

The Benefit:  

Our final deliverable was an IT Infrastructure Roadmap that laid out the order in which systems infrastructure should be enhanced in order to accommodate future securitization transactions.

BI Project Management for a Rail Car Provider

“NorthBound’s process saved us $500,000 in report development costs.” – VP of Finance

Our Client:

Our client is a leader in providing freight railcars and related freight car management services in North America.   Their pool of over 140,000 railcars ships finished goods and commodities such as motor vehicles, construction equipment, steel, lumber, aggregates and paper products.  The client is owned by the major railways, and provides railcars as needed to the owner companies, as well as to other freight haulers.

Their Challenge:

A major initiative was underway to upgrade all operating and reporting applications. The client had 3,500 financial reports and wanted to determine which of these reports should be recreated in the new environment.    Identifying and prioritizing these reports challenged the finance department.  Further, the department faced resource-scheduling issues.

The NorthBound Solution:

NorthBound Solutions assessed how the finance department generated reports and a provided a report inventory. Our assessment identified the reports that were not being used anymore and did not need to be recreated in the new enviroment.  In addition,  our work identified other opportunities to streamline & standardize reporting activities.

The Benefits:

As a result of NorthBound’s efforts, our client was able to save $500,000 in report development costs

BI Roadmap for County Government

“The recommendations made by NorthBound will reduce our risk from legacy systems. In addition, we will be able to produce better financial and operations reports faster and finally give us some forecasting capabilities.”

–Director, Finance & Administration

The Client:

Our client is a county government in the Midwest providing 166,000 residents a wide range of government services.

Their Challenge:

Decreased tax revenue, state budget cuts and antiquated IT infrastructure forced the Finance and IT staff of this county to search for ways to reduce the burden of financial and operational reporting across departments as well as build up forecasting capabilities.  One department needs two resources to spend 40% of their time per month running reports off of the county's version of JD Edwards (running on iSeries mainframes that were nearly 20 years old).  The county called NorthBound to perform dual BI & ERP assessments and help put it on the path toward selection of systems to fulfill its requirements.

The NorthBound Solution:

NorthBound assessed the need for BI in the county as well as options for improving or replacing its aging ERP application. We interviewed county stakeholders at all levels and Departments including the Treasurer, Highway Commissioner, Director of Human Services as well as the Chief Deputy of the Sheriff's Department to put together a comprehensive list of BI & ERP requirements. With that list of requirements, we helped devise a short list of vendor candidates as well as financial and economic viability models to estimate ROI of our recommendations.

The Benefit:

NorthBound’s recommendations and roadmap gave our client the plan it needed to convince its Board of Supervisors of the need for a BI solution and a replacement for its aging ERP.

 

Enhanced Daily Servicer Reporting

The Client: 

Our client is a multi-national industrial manufacturing organization.

Their Challenge:

Our client's principal challenge was timely and accurate reporting on the various tranches of securities based on their trade receivables. Each security is unique and each counterparty has their unique reporting requirements. Our client was struggling to deliver the kind of reporting their counterparties demanded.

The NorthBound Solution: 

NorthBound designed and developed a securitization reporting infrastructure for our client to support a multi-seller trade receivable asset-backed securitization program. The solution leveraged the power of Microsoft Excel, while incorporating such controls as secure remote access, authentication and data validation. The application consolidated individual seller data into a centralized environment, from which the daily servicer report is generated.

The Benefit:

NorthBound's solution provided data transparency and process auditability to senior leadership, improved reporting capability and reduced the amount of time it takes to run daily servicer reports.

What-if Scenario Analysis for Collateralized Debt Obligations

The Client:

Our client is a real estate investment firm that invests directly in commercial properties across the United States. 

Their Challenge:

A Collateralized Debt Obligation (CDO) asset manager needed to perform "what-if" scenario analysis on expected changes within the CDO portfolio. The asset manager needed to proactively manage the composition of the CDO portfolio, providing it with greater insight into future CDO performance.

The NorthBound Solution:

NBS also delivered a solution that automated the reconciliation process between the asset manager and the CDO trustee. This application immediately notified the user of any adverse performance metrics as well as discrepancies in data and calculations between the trustee's report and the information generated by the underlying servicing platform.

The Benefit:

The benefit of these solutions was in streamlining, automating and improving the integrity of the process to perform and test all CDO calculations. The result was a more comprehensive, efficient and auditable servicing platform. designed, developed and implemented a custom application that allowed this Collateralized Debt Obligation (CDO) asset manager to perform "what-if" scenario analysis on expected changes within the CDO portfolio. This application allowed the asset manager to proactively manage the composition of the CDO portfolio, providing it with greater insight into future CDO performance. 

Improving Data Quality for a Fleet Management Firm

  “NorthBound kept a very complicated data integration project on track so we could launch an important strategic tool.” – Director of IT

Our Client

Our client is a national leader in fleet management services. Headquartered in Des Plaines, Illinois,  the firm manages the acquisition, maintenance and remarketing of vehicles for companies operating vehicle fleets.

Their Challenge

The client was developing an ambitious catalogue of vehicles and vehicle parts representing all major automotive lines.  The catalogue would allow fleet managers and drivers to accurately and securely configure and order fleet vehicles. The number of data streams, the complicated business rules and integration challenges with existing applications put the success of the entire project at risk.  The project’s manager requested help from NorthBound Solutions to provide structure for data development and analysis, thereby reducing overall project risk.

The NorthBound Solution

NorthBound applied its Quality Delivery methods to measure the quality of data streams and evaluate the logic that updated project’s database.  By applying light-weight development processes and governance, defects during user acceptance testing fell by 40%.  NorthBound’s knowledge of the fleet leasing business and our emphasis on communication brought the project under control.

The Benefit

Our client was able to launch their vehicle parts database on time, improve customer satisfaction while improving back-office operating efficiency.