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22-Feb-00
System Will Coordinate 400 Users Managing Over 200,000 Accounts
EDEN PRAIRIE, Minn., February 22, 2000 - SuperSolutions Corporation announced
today that it has signed a contract to install Daybreak - The Big Picture, its
loan portfolio management software, for Onyx Acceptance Corporation (NASDAQ:
ONYX), a major national provider of prime and near-prime automobile financing.
In migrating to Daybreak, Onyx will move from its current service bureau
relationship and transfer systems processing to a more flexible in-house
platform.
Onyx, which purchases consumer auto contracts from franchised
and select independent dealers nationwide, will use the client/server version
of Daybreak 5.0 to enhance the servicing and collections functions of 400
employees managing over 200,000 accounts.
"Installing Daybreak will be an important technology upgrade
for Onyx. It will speed up our loan processing and provide us increased
flexibility," says Todd A. Pierson, Senior vice President and Chief Information
Officer for Onyx.
Daybreak 5.0 is an end-to-end relational database management
system for consumer lending, including automobile, recreational vehicles,
boats, motorcycles, home improvement, line of credit and specialty finance
requests. The application is built on Oracle Relational Database Management
Systems, offering scalable, user-configurable environments with Open Database
Connectivity (ODBC) solutions. It is available in Web-enabled and client/server
versions.
Specifically, daybreak will help onyx:
Monitor and maintain payment information and other account activities; Monitor
delinquent accounts and provide notification when follow-up is required; Track
costs of repossession and asset recovery
"Onyx is a leader in the prime and near-prime lending arena, so
this agreement is strategically important for us," says Darshan Karki,
president and CEO of SuperSolutions. "By using Daybreak, Onyx should experience
increased productivity and reduced costs for a core business process, which
will provide Onyx a further edge over its competitors."
About supersolutions corporation
Based in Eden Prairie, Minn., SuperSolutions Corporation develops
enterprise-wide software applications for both the Internet and traditional
platforms. Its flagship product, Daybreak-The Big Picture is designed for
lenders providing consumer and commercial loans. Daybreak automates the lending
process, including loan origination, servicing, collections, and documentation,
in client-server and Internet-based environments.
About onyx acceptance corporation
Onyx Acceptance Corporation (NASDAQ: ONYX) is a specialized automobile finance
company based in Foothill Ranch, Calif. Onyx provides prime and near-prime
financing to franchised and select independent dealers in major markets
throughout the United States. Visit Onyx Acceptance Corporation on the Web at
www.onyxco.com.
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