On 30 March 2007, SA Taxi Finance (SATF) signed a deal with Xpertek Group to purchase an end-to-end loan finance solution that will comply with the National Credit Act (NCA).
SATF provides finance to aspirant and existing taxi owners, allowing them to purchase vehicles that are the source of their livelihood.
SATF had to decide whether to buy or build a solution to meet its requirements. According to Wilbert Tamboer of SATF, the major requirements were "a system that reduces document flow, thus moving towards a paperless environment. This, in turn, should free up valuable resources to spend less time on tedious administrative tasks and paperwork but rather to be utilised in growing and expanding the business."
The existing legacy software application had to be replaced and an independent consultant was contracted to facilitate the decision-making process. The consulting company drew up an in-depth specification of requirements that was used as the basis for the vendor product evaluation.
SATF accepted the recommendation of the independent consultant to pursue the buy option, as the Xpertek solution appeared to be the best fit for the business. The build option would be costly and take too long to deliver a solution that would really work for them.
What follows is a three-step selection process for the buy option.
1. An in-depth technology review of the Xpertek solution.
2. A detailed functional analysis of the Xpertek solution against the independent consultant's requirements specification.
3. Once the solution passed these examinations, the final procedure was a pricing and vendor selection.
After the successful conclusion of the first two sessions, Xpertek submitted a proposal summarising SATF's business requirements and recommended a lending solution using the Acquire and Reward products to fulfil SATF's needs.
For further information about the Acquire loan finance solution or the Reward business process tool, kindly contact Barry Leonard, CEO of Xpertek on (011) 519 3000 or log on at www.xpertek.co.za.
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