TSi Auto Solutions Acquires AutoSoft Inc.
Leading financial analytics solutions provider expands North American footprint.
Manhattan Beach, CA, June 8, 2010 – TSi Auto Solutions, a leading international provider of business management solutions to the automotive and financial services sectors in North America and Asia-Pacific, today announced the acquisition of AutoSoft Inc. of Seattle, Washington. This expansion increases TSi’s customer base by 30%, adding four of the largest US based automotive OEMs to their existing client roster. This increases TSi’s reach to over 10,000 users worldwide.
TSi provides automotive OEMs, dealer groups, banks and captive finance companies with analytical solutions that deliver robust views of dealerships’ performance data and financial status. The web-based, real-time proprietary technology streamlines, consolidates and cleanses data while providing an extensive range of reporting options. In addition to the real-time financial statement information, performance data is integrated into the reporting engine including market share analysis, customer satisfaction trends and more. All financial statements are electronically cleansed with up to 17,000 automatic edit checks, eliminating the need for manual report creation while ensuring data accuracy.
The acquisition of AutoSoft brings together two highly regarded data solution providers while expanding reporting and customer support throughout North America. AutoSoft has over 20 years of experience in providing financial reporting and analytics products, most notably Profit Planner, to a number of large U.S. based automotive OEMs.
“AutoSoft has proven to be a valuable partner to their clients with an impeccable track record of consistently providing exceptional customer service,” said Dan Wood, President and CEO of TSi Auto Solutions, “We look forward to combining our analytics technology to deliver one of the most extensive financial and risk management solutions to even more U.S. based customers.”
“TSi is a highly respected partner and the team brings extraordinary bench strength around product development and customer support,” stated David Simmons, founder of AutoSoft Inc, “Combining our extensive experience will expedite our growth and help us provide additional innovative solutions to our clients.”
This acquisition is very timely considering that the automotive industry as a whole, including automotive dealers and financial service providers, has experienced unprecedented financial turmoil. The combined strengths of TSi and AutoSoft will give their clients a competitive edge with access to real time, accurate data from their retail automotive network. Account and risk managers, as well as dealer group corporate executives, can now fully assess the health and performance of dealerships, monitor loan covenants and identify new financial opportunities.
About TSi Auto Solutions
TSi is a global leader in providing web-based, real-time solutions to OEMs, dealership financial
service providers and dealer groups to help them better manage the processes and analytics related to dealership financial information and performance data. With over 10,000 users in the United States, Canada and Asia Pacific, TSi is a Microsoft Certified Partner offering enterprise level solutions with comprehensive dealership analysis and enterprise level reporting. The web-based portal provides users with the ability to better understand a dealership’s performance while providing enhanced business insight across all levels of operations. For any company that is in need of secure, real-time, business and financial information from automotive, heavy truck, motorcycle and RV dealers, TSi has a solution. Please visit www.tsiautosolutions.com for more information.
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