CGI and Harley-Davidson Financial Services Join Forces
CGI (TSX: GIB.A) has teamed up with Harley-Davidson Financial Services to create a significant partnership that aims to revamp the loan origination system used by Harley-Davidson. This collaboration is set to greatly enhance the financing experience for customers while offering more flexibility for dealers, all made possible through AI-driven solutions.
Transitioning to CGI Credit Studio
As part of this exciting change, Harley-Davidson will move away from its various IT platforms to the integrated CGI Credit Studio. This updated system is crafted to streamline and simplify the financing process, ultimately providing a smoother experience for motorcycle buyers.
Empowering Riders
"This collaboration with CGI is all about empowering riders to fulfill their dreams of owning a Harley-Davidson motorcycle," noted Charles Do, Senior Vice-President of Harley-Davidson Financial Services. He highlighted the need for a simplified financing process that offers clear, easily accessible information, allowing customers to make well-informed choices.
Improvements to the Financing Process
With the new CGI financing platform, Harley-Davidson’s loan application process will be much more straightforward. This platform simplifies the entire credit lifecycle, ensuring a direct connection through each step of financing. By cutting down on repetitive tasks, the process becomes more efficient and user-friendly.
Advantages for Dealers
Dealers will also benefit significantly from this platform. It will shorten the buying window and increase deal flexibility, fostering better collaboration between dealers and their customers. More importantly, it will enhance the customer experience by allowing buyers to explore the lifestyle of owning a Harley-Davidson motorcycle, including access to offers for merchandise and riding experiences right at the point of purchase.
Adaptability to Market Changes
CGI Credit Studio is built to be adaptable, enabling Harley-Davidson to modify its offerings in real-time during the loan application process. This ability to respond to changing customer preferences and market conditions is geared toward boosting satisfaction and improving conversion rates. The system will continuously expand its decision-making data, maximizing value for both customers and dealers, while also reducing back-end losses.
Cost-Effectiveness as a Focus
CGI isn't just about innovative customer experiences; they also aim to lower overall solution costs. By streamlining the credit technology landscape, CGI offers an efficient and budget-friendly solution rooted in a strong return on investment (ROI) for Harley-Davidson.
Conclusion: A New Chapter in Financing
This finalized partnership represents a significant turning point for Harley-Davidson Financial Services as it ventures into transforming the financing experience for motorcycle enthusiasts. Tim Hurlebaus, President of U.S. Commercial and State Government operations at CGI, remarked, "Our collaboration with Harley-Davidson Financial Services will undoubtedly create a new loan origination system that redefines the financing journey and delivers exceptional value for this iconic brand."
About CGI
Founded in 1976, CGI is known as one of the largest independent IT and business consulting services firms in the world. With around 90,000 consultants and professionals, CGI offers a wide range of services, from strategic IT consulting to systems integration and managed IT services. They take pride in helping clients through a local relationship model, supported by a global delivery network to drive digital transformation. For CGI's Fiscal 2023, the reported revenue was CA$14.30 billion, and their shares are listed on TSX (GIB.A) and NYSE (GIB). You can learn more at cgi.com.
Frequently Asked Questions
What is the purpose of the CGI and Harley-Davidson partnership?
The goal of the partnership is to modernize Harley-Davidson's loan origination system, improving the financing experience for customers and increasing flexibility for dealers.
How will CGI's Credit Studio benefit customers?
CGI's Credit Studio aims to simplify the financing process, offering transparent information that enables customers to make informed decisions.
What specific features will the new system offer to dealers?
The new system will shorten the buying window and enhance deal flexibility, while also improving collaboration with customers.
How does the new system adapt to market conditions?
This system is dynamic and designed to respond to changes in customer preferences and market conditions in real-time.
What are some potential economic benefits of the collaboration?
The partnership is expected to lower total solution costs and provide a streamlined approach that yields a positive return on investment.
