- Hyundai Capital America is the first among 11 global entities to introduce NGS
- NGS is set to boost marketing capabilities and reduce time and cost
- Launch of NGS in Canada and China entities is being considered
SEOUL, South Korea, March 26, 2020 /PRNewswire/ -- Hyundai Capital Services announced on March 26 that Hyundai Capital, its U.S. entity, implemented Next Generation System (NGS), an integrated IT platform.
NGS makes it possible for Hyundai Capital America to manage overall business operation ranging from sales to risk control on a single platform.
Back in 2016, Hyundai Capital Services developed and adopted NGS by incorporating all of their IT systems into one platform. Hyundai Capital Services, the headquarters in Seoul, went on to upgrade and standardize the system to be applied to all of its global entities. Hyundai Capital America became the first among 11 entities to implement Hyundai Capital Services, given the United States boasts advanced IT-backed financial system.
"The launch of NGS in Hyundai Capital America is meaningful in that the systematic basis for Hyundai Capital Services' 'Global One Company' corporate cultural value has successfully taken root," said an IT executive at Hyundai Capital Services. "We will continue upgrading the system and applying it to other entities in the near future."
Hyundai Capital Services is currently considering launching NGS at its Canada and China entities.
Hyundai Capital America has now come to have an advanced IT system best-optimized for its market. NGS has integrated previously separated auto retail and lease management systems to step up marketing capabilities and has upgraded data infrastructure for employees to utilize.
Time and cost for building IT system when it comes to entering a new country will be reduced greatly and global entities around the world will be able to share their resources and keys to their successful operations more actively, thus facilitating Hyundai Capital Services' global expansion.
The issue of data silo, a data barrier among different functions within the company, has also been significantly eased as the new system reduces overlapping data that took up as much as 43% of total. That contributed to slashing the entire data volume by two thirds. Various work functions that used to be taken care of by human workforce have been replaced with NGS, which is hoped to help reduce errors as well as labor costs.
NGS also allows different features to be easily recombined according to needs, which is deemed to be useful for coping with changes in market conditions.
About Hyundai Capital Services
Hyundai Capital Services is Korea's leading provider of consumer financing products such as auto financing and auto leasing services. Established in Seoul in 1993, Hyundai Capital Services is a financial services arm of Hyundai Motor Group, mainly promoting vehicle sales and providing best-in-class services for Hyundai, Kia and Genesis customers.
The company currently operates in 11 countries worldwide including in the United States, China, the United Kingdom, Canada, Germany and Brazil.
Please visit about.hyundaicapital.com/ for more information.
SOURCE Hyundai Capital