Zenith has implemented Quotevine’s new Radia terms management system, which promises to provide a more painless transaction process and ‘transform’ the UK leasing market.
Developed in partnership with Cap HPI, Radia provides car leasers with more control over the review and approval of loan management terms and gives them access to more responsive and dynamic pricing.
Zenith is the first major car leasing company to adopt the new Software as a Service (SaaS) solution, which which uses artificial intelligence to automate the processes and documentation involved in managing car leases - from initial quote to contract management.
Zenith is implementing Radia across its business in a phased approach and is currently utilising the terms management product for ZenAuto, its digital direct-to-consumer personal contract hire solution.
Vicky Clarke, pricing manager at Zenith, said: “Quotevine’s innovative product Radia will help ease the administrative burden of terms management. By adopting Radia, we will eventually have a single input with the ability to generate the different format outputs required to automatically update all manufacturer and dealer discounts across our products.”
Once fully implemented, Radia will manage all of Zenith’s leasing terms in one place, optimising procurement, enhancing the company’s sales responsiveness, reducing error rates and decreasing time to market and expensive effort lost on manual processes.
Rebecca Duckworth, Quotevine’s chief Sales and marketing officer, added: "We're excited about the technology we've created, which will revolutionise the way car leasing is handled in the UK. Similar to how fintech has transformed the banking world, our technology will shift the car leasing industry which has been left behind in terms of digitisation and innovation.
“We first began talking to Zenith in January 2019, after recognising the cultural synergies between the two companies and began collaborating on potential innovations. We quickly identified terms management as a key pain point that was holding leasing companies, dealers - and therefore manufacturers - back. So, we decided to target that and are extremely proud to have spearheaded the introduction of this new approach and technology.”