GPS-based service provides real-time asset management
HOFFMAN ESTATES, IL -- GE Capital, Commercial Distribution Finance (CDF) has selected RV|ID to enhance its floor plan collateral management services for recreational vehicles (RVs). The global positioning system-based (GPS) service will increase the ease and speed of doing business for both manufactures and dealers by providing real-time mapping, reports and alerts on RV assets in the U.S.
"This is an innovative service that can be used industry-wide to efficiently and effectively monitor inventory," said Pete Lannon, managing director for CDF's RV business. "GE Capital is pleased to introduce new technologies like RV|ID to our customers − one more way we're providing them with value beyond money."
Developed by Red Lantern Labs of Solana Beach, CA, the system provides RV makers with real-time logistics information as the assets move from factory to dealer to enable the monitoring of retail-level inventory and shelf space. For dealers -- especially those with rental businesses − RV|ID provides mileage and usage information to allow them to better service and maintain their fleets. Similarly, CDF will be better able to track assets prior to retail sale.
"We're pleased to be able to provide this important new tool to GE Capital," said Jon Corn, president of sales and business development for Red Lantern Labs. "Using RV|ID, a manufacturer can improve production logistics and increase customer satisfaction while dramatically reducing its lemon law exposure; and a dealer can use RV|ID to improve inventory management. It's a true win-win situation."
About Red Lantern Labs
Red Lantern Labs develops advanced telematics services that address the specific needs of the value chains in the RV, marine, heavy equipment, power sports and similar industries − from floorplan lenders to rental fleets, manufacturers, dealers, consumers and others. Using GPS and wireless communications technology, together with a sophisticated software analytics engine and online portals, these services allow customers to know where their assets and collateral are, where they've been and to receive alerts about vehicle usage. Red Lantern is a privately held company based in Solana Beach, CA.
Interested parties can learn more about RV|ID by visiting www.rv-id.com, by contacting [email protected], by calling +1-858-367-5192 or by visiting Booth C-7 at the 47th RVIA National RV Trade show in Louisville, KY.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided more than $30 billion in financing to 30,000 manufacturers and their distributors across the Americas in 2010. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. For more information, visit www.americas.gecapital.com or follow company news via Twitter (@GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
Mark Chesney
GE Capital Commercial Distribution Finance
[email protected]
1-847-747-6518
1-847-544-9362
Lisa Tibbitts
GE Capital
[email protected]
+1 203 956 4582
+1 203-803-6142