IRVINE, Calif., Jan. 16, 2019 /PRNewswire/ -- Advantage GPS, a Procon Analytics company that captures and translates raw data into actionable business intelligence, today launched the automotive finance industry's first and only wire-free GPS tracking devices. Revo is a game-changing, wire-free family of GPS vehicle tracking devices that revolutionize the way buy here pay here dealers and vehicle finance companies protect their collateral and gain valuable automotive analytics.
"Over the past 10 years battery technology has steadily improved and has now reached a level of long-term, stable dependability," said Bill Cheney, CTO and Managing Partner for Procon Analytics. "This in conjunction with the advancements in 4G LTE cellular and GPS receiver technologies have made our Revo family of products practical and affordable. We believe these 'Internet of Things' innovations will revolutionize the GPS Tracking industry."
Revo's sophisticated, battery-powered technology can be secured almost anywhere in a vehicle in five minutes or less. Because of Revo's revolutionary technology, battery life, and ease of installation, it will reduce the number one reason for device failure, improper installation, to near zero.
"It was important to design battery-operated devices would hold up for the duration of long-term finance contracts to protect our customers' vehicle assets," said David Meyer, President of Advantage GPS. "Working side-by-side with leading experts in battery technology we did it. We developed three new wire-free devices that provide more flexibility, control and, in the end, reduce costs and the hassles of installation for our customers."
All three Revo devices — SmartStop, 3000, and 4000 — take only about 10 seconds to activate and are immediately connected to the platform via 4G LTE wireless technology. The three different Revo models give lenders the flexibility to match device to loan terms or risk factors.
- Revo SmartStop: Collects a continuous stream of data for all start and stop events of a vehicle up to 3,000 events or approximately 1-year.
- Revo 3000: Provides auto lenders with flexible operating modes that gives them more control and help preserve the battery life of the unit. The unit is designed to capture 3,000 events just like the SmartStop, but this device has a life span of approximately 3-years.
- Revo 4000 – Includes the three flexible modes and captures at least 4,000 events, for at least 4-5 years.
The Discovery, Standby, and Recovery operating modes are an integral part of the Revo 3000 and 4000:
- Discovery Mode: Provides a detailed history of the vehicle for the first 250 events. This sets up the vehicle's routine. Much is learned during this period, but once completed downshifts to the less power-consumptive Standby Mode.
- Standby Mode: Reports a vehicle's location and device health (such as battery life and tamper alerts) twice each day. Finance companies, when they see a need, can easily change to the third Recovery Mode. Despite the low-power consumption of Standby Mode, valuable data is collected every day.
- Recovery Mode: With a simple keyboard click Revo reports a vehicle's movement every five minutes and also sends stop events. To preserve battery life, Revo will automatically revert to Standby Mode (after 7 days or 500 events) or SmartStop Mode based on the customer's product choice.
Importantly, Revo devices have many of the same features that hard-wired devices do including: Drive Reports, Stop Reports; Repo Mobile Tool; Geofencing; Tamper Alerts; Battery Life Indicator and 4G LTE service. What it has doesn't come with is the average $55 installation fee, extra cables and accessories, and a device service plan. The company has already started shipping Revo devices to auto lenders across the country.
"We also guarantee the number of events for each Revo device," Meyer said. "That guarantee, along with the savings from not having to pay for hard-wire installations will save dealers thousands of dollars during the course of a year, with nearly no installation failures."
The company continuously strives to bring automotive lender and dealer clients the most leading-edge technology available to allow them to protect their portfolios and set themselves apart from their competitors. Serving nearly 1,000 automotive lenders with over 500,000+ connections across the country, Advantage GPS by Procon Analytics not only utilizes the most progressive connected technology, but is constantly evolving based on the automotive finance industry's needs, technological advances, as well as economic and legislative trends.
About Advantage GPS
Advantage GPS by Procon Analytics provides GPS technology and innovative data analytics that empower BHPH dealers and vehicle finance companies to make smarter, faster and more profitable business decisions. The company's seasoned leadership team has been revolutionizing risk mitigation tools and real-time automotive analytics to help lenders protect vehicle assets, reduce delinquencies and speed up recoveries when needed for over a decade.
For more information visit: AdvantageGPS.com/revolution or call 1-800-553-7031.
SOURCE Advantage GPS by Procon Analytics