Portfolio Management Module
The Master Mind Portfolio Management Module simplifies loan contract management for dealerships servicing their own contracts. Dealers control all aspects of the contract servicing from one screen and have the benefit of an integrated platform to insure timely receipt of contract receivables.
The Portfolio Management module decreases the time dedicated to manual updates to consumer accounts and automates the collection process for increased accuracy and greater cash flow.
A properly managed portfolio can provide a dealership with a lucrative revenue stream. However, most dealerships holding their own portfolio (commonly referred to as "Buy Here Pay Here") are losing money due to the manual, error prone process they utilize to control their assets and manage their receivables. The Portfolio Management Module simplifies the process by providing automatic posting of payments to outstanding principal, interest and fees with a running amortization schedule for each outstanding contract. With the consistent information, dealerships can evaluate outstanding contract amounts, individual consumer balances due and either utilize the Accounting Module supported by the Unified Data Model or export the information to any resident accounting program they use.
Contract receivables management has never been easier because the Portfolio Management Module was developed from the dealership’s view. Account review, payment posting and collection activity are all handled from the same screen to eliminate the need for multiple systems (or notebooks) to manage contracts. The process is further simplified through built in functions for call actions, notification forms and the printing of payment schedules, payment coupons and receipts.
The Module will even automatically calculate sales tax amounts and prepare sales tax credit forms for repossessed units.
Master Mind’s Unified Data Model provides seamless integration of information throughout the dealership and the Portfolio Management Module benefits from this platform design by receiving accurate, complete deal information from the Finance Module to further reduce the possibility of input errors. Other ‘buy-here-pay-here’ systems provide niche functionality but cannot provide either the front-end finance delivery structure or the back end accounting. The Portfolio Management Module increases a dealership’s cash flow and provides an accurate, professional and legally compliant method for managing portfolios and synchronizes the information throughout the dealership for better customer service and increased operational efficiency.