Tata Motors Finance Ltd. ("TMFL"), a subsidiary company of Tata Motors Ltd. ("Tata Motors"), a Tata Group company, has gone live with LeaseWave lease management software by Odessa Technologies, Inc ("Odessa"). With more than 2 million customers financed, TMFL is the largest financier of vehicles manufactured by Tata Motors under the Tata, Jaguar and Land Rover brands. Tata Motors makes both passenger cars and light, medium and heavy commercial vehicles and is India's largest automobile company, with consolidated revenues of INR 1,23,133 crores (USD 27 billion) in 2010-11. The Tata Group comprises over 100 operating companies in seven business sectors, with operations in more than 80 countries, and over 425,000 employees worldwide.
"Tata Motors Finance continues to increase its market share and is poised for significant growth in the coming years. We recognize the importance of reliable and scalable IT infrastructure to not only complement but to also enable this growth. And, keeping in line with industry best practices, our IT strategy always goes beyond the organization's boundaries to cover suppliers, dealers, customers and other stakeholders," said Jitendra Jadhwani, CIO. "LeaseWave's state of the art technology and automation features will enable Tata Motors Finance to build on this IT vision and best prepare for expected growth."
"We are pleased to add another world class company to our client list. In implementing the LeaseWave solution at TMFL, we were especially excited by the efficiencies and immediate productivity gains that LeaseWave will enable. While facilitating its business processes, the system will also help TMFL navigate through the complexities of its regulatory environments," says Jay Mehra, Chief Operating Officer at Odessa Technologies. "Given its rigorous requirements and challenges, TMFL represented the ideal client for LeaseWave."
About Tata Motors Finance Ltd./Tata Motors Ltd./Tata Group
The Tata Group comprises over 100 operating companies in seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. The group has operations in more than 80 countries across six continents, and its companies export products and services to 85 countries. The total revenue of Tata companies, taken together, was $83.3 billion (around Rs3,796.75 billion) in 2010-11, with 58 per cent of this coming from business outside India. Tata companies employ over 425,000 people worldwide. The Tata name has been respected in India for more than 140 years for its adherence to strong values and business ethics. There are 31 publicly listed Tata enterprises and they have a combined market capitalization of about $86.75 billion (as on April 12, 2012).
Tata Motors is among the top five commercial vehicle manufacturers, in the world. Tata Motors is India's largest automobile company, with consolidated revenues of Rs1,23,133 crores (USD27 billion) in 2010-11. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India.
About Odessa Technologies, Inc.
Odessa Technologies is a software company exclusively focused on the leasing industry. The company is headquartered in Philadelphia, Pennsylvania and employs a staff of 260 people. Odessa is a developer of the LeaseWave suite of products, a fully integrated browser-based lease and loan management solution, providing an end-to-end origination and portfolio management system for equipment leasing and finance, vehicle leasing and fleet management companies. The LeaseWave suite is specifically engineered to be configurable to accommodate even the most complex business model, as evidenced by Odessa's diverse customer base.
