Product Partnerships

Product Partnerships is an FCA authorized firm acting as a Principal and Compliance Specialist for businesses who offer consumer credit facilities. They are regulated to oversee credit broking and consumer hire activities.  Their core markets are retail motor outlets, online vehicle suppliers and firms who operate salary sacrifice schemes that should be FCA regulated.

Business Needs

If a UK based business offers customers or employees finance facilities, then it needs to be compliant with FCA regulations. The FCA requires some management information to be sent electronically through a secure and compliant system. There is a great deal of material that is confidential, contains personal information and financial risk assessments for UK individuals that needs to be stored electronically including transaction logs, compliance & company complaint procedures, product sales data, sales commission, cancellation & claw back, proof of staff training. In some cases, these documents need the ability to be electronically signed by the recipient and sent back.  

Without a reliable solution in place, all documentation was manually handled between customers and was stored in physical file locations.  This lead to disorganization, confusion, and ultimately an inability to comply with the various regulations they were subjected to.  When regulators needed access to the material, they would have to manually look through every document which was extremely time consuming and inefficient.  

Pimcore Solution

„We needed the ability to test and learn, and then make system changes as our requirements became known. The flexibility and adaptability of Pimcore has enabled us to do this in a cost effective and efficient manner.“
Nigel Wray, Product Partnerships

With Pimcore’s solution, Product Partnerships Ltd was able to access a fully comprehensive suite of tools for maintaining FCA compliance. Product Partnerships Limited is able to provide compliance services & support for this need by enabling companies to electronically, and compliantly, store this data.  Using Pimcore, all required information was kept in a private financial compliancy portal and documents could be easily available for future retrieval and audit.  The electronic signatures provide a further method of legally signing agreements without paper storage.  Additionally, training information was made available in the portal, ensuring dealerships have the most up to date legislation and documentation.

To accomplish the solution, the portal was built on top of many of the ready to extend features of Pimcore’s Object data management. Throughout the system, Pimcore’s Class Definition functionality was used to define flexible and efficient representations for all information. Class Definitions also allowed Product Partnerships to design a system that worked for the motor vehicle industry, but could be adapted to any market with financial lending, without developer intervention.  This was achieved through flexible class building (field collections & object bricks).

All information within the system was made auditable thanks to Pimcore’s built in versioning & element properties. With the help of versioning Product Partnerships was able to keep track of changes within information, and element properties provided a secondary edit lock & drafting mechanism for their clients.

Product Partnerships Ltd provides MI about thousands of sales to hundreds of clients. This information was kept up to date a

Business Results

Using Pimcore, Product Partnerships can quickly access key information for maintaining its client’s requirements.  Additionally, dealerships have all required compliance information available as their disposal. When a regulator requested such materials, they were able to instantly provide it and satisfy the regulator’s requirements.  Therefore, they were able to establish a good rapport with regulators which is very important in this industry.  With use of Pimcore, they were able to significantly reduce the risk of dealerships being fined from the FCA due to lack of compliance and therefore spared themselves of the monetary loss and brand damage associated with such an occurrence.   

Klant
  • Product Partnerships
Industrie
Producten
Bezoek Productpartnerships.com

Lees meer Pimcore succes verhalen

Improved Data Management Boosts Customer Satisfaction of a Renowned Co

Waterco is one of the leading Australian manufacturers and distributor of swimming pools, spas, aquaculture equipment, and water purification solutions.
PIM, Manufacturing
PHOENIX Group

Web-to-Print for pharmaceutical distributor in Germany

PHOENIX Pharmahandel GmbH & Co KG from Mannheim, Germany is the leading pharmaceutical distributor in Germany and one of the leading pharmaceutical distributors in Europe.
WCM, DAM, Healthcare, Distribution

B2B French food supplier opens marketplace for chefs

Gourming needed a solution that will allow their vendors to submit product information and that would allow their staff to easily access and review this information.
PIM, Distribution, Food & Drink

Granol AG focus on delivering real-time product information

Granol AG is a manufacturing company. It decided to renew their website with Pimcore and focus on delivering real-time product information as well as easy to find contact information.
WCM, PIM, DAM, Manufacturing

Meer dan 80.000 bedrijven gebruiken Pimcore.

Start nu met de digitale transformatie van uw bedrijf!