Source: CGI Group
CGI Group (TSX: GIB.A; NYSE: GIB), a leading provider of end-to-end information technology and business process services, is pleased to announce that Daimler Financial Services (DFS) has chosen CGI to provide a full end-to-end applications management service for international Vehicle Asset Financing.
The 5 year contract will provide DFS with a cost-effective service to streamline and standardize its international vehicle asset financing business processes, while at the same time maximizing operational savings by utilizing CGI's industry leading outsourcing services.
"DFS is pleased to expand and continue our relationship with CGI," said Markus Sontheimer, Director IT Financial Services and Sales. "For many years now, CGI has operated on the principles of sharing in our goals, and delivering quality services to address them. We look forward to maximizing CGI's knowledge and expertise to continue to be the first choice provider of financial services for our dealers and customers."
"CGI has been a provider to Daimler for 8 years," said Joe Saliba, President Europe and Australia, CGI. "We are pleased that Daimler Financial Services, having built its reputation on quality and innovation, looks to CGI to meet their IT needs. This multi-million euro deal strengthens our relationship and will contribute significantly to the organic growth of our European operations over the next 5 years."
CGI has also acquired Phoenix, Daimler's Vehicle Asset Financing platform specifically developed to meet DFS' retail financing needs. An intuitive business-centric solution, Phoenix has enabled Daimler to win customer service excellence and dealership awards. It is functionally rich both in supporting high levels of customer service and in its coverage of vehicle financing processes. At its core, are the capture, aggregation and management of cash flows which comprise deals, from the viewpoint of a customer, a dealership and financial services provider. This focus aligns well with the business of asset finance. A view which is evidenced by the successful international deployment of Phoenix within DFS, and which has been endorsed by industry analyst reviews.
In collaboration with Daimler, CGI plans to commercialize Phoenix for the worldwide asset finance market. Lead by its Phoenix Delivery Centre outside London, CGI is leveraging DFS' specialist financing knowledge and CGI's market leading financial solutions and IT development expertise to incorporate Phoenix into CGI's financial solutions portfolio. With Daimler as its Charter Customer, CGI's initial target market is asset financing for the automotive and other high value manufacturing industries.