Case Study

Canon Financial Services Expands to Offering Floorplan Financing

Shifting from outsourcing its authorized retailer floorplan finance, Canon Financial Services chose the CALMS Compass floorplan/wholesale finance solution to manage the business.

Context

Canon Financial Services Inc. (CFS) is a wholly owned subsidiary of Canon U.S.A., Inc and operates as a nationwide financer of Canon products. CFS finances products such as office equipment, medical supplies and high-end cameras for the entertainment industry.

Challenge

The challenge was to expand the existing retail lending operation of the company to include floorplan financing in a very short timeframe. Strategically, moving into floorplan finance allowed Canon to better service its retailers by offering both floorplan and retail finance from a single dedicated source, resulting in an enhanced, stable and more cost-effective financial service, critical to its retailers’ operations.

Solution

White Clarke Group successfully implemented the CALMS Compass floorplan finance platform for Canon within 90 days of contract. CALMS Compass enables Canon to offer a feature-rich floorplan finance experience for its retailers, with market leading capabilities equal to much larger organizations which are solely focused on floorplan finance. Canon has all the flexibility and tools to provide the unique finance plans it requires, while enabling its retailers to self-manage their credit lines via order and payment management through a robust web portal.

For more detail on any aspect of CALMS, please contact us today.

Results

Canon is now able to cost-effectively provide a market leading financial product while taking control of the borrower experience and ensuring its retailers have access to the funds they require.

For more detail on any aspect of CALMS, please contact us today.

We’re excited to be able to offer this new program to Yamaha dealers and believe that our new relationship with White Clarke Group is an integral component of this new program.
Leone Foxwell, National Manager Inventory Finance, Yamaha Motor Canada