Navistar Financial Corporation Implements Oracle® Lease Management to Enhance Operational Efficiency

Oracle® Certified Partner Genpact Spearheads Implementation

REDWOOD SHORES, CALIF. - Oracle today announced that Schaumburg, Ill.-based Navistar Financial Corporation (NFC), a wholly owned finance subsidiary of International Truck and Engine Corporation, the operating company of Navistar International Corporation (NYSE: NAV), is implementing Oracle(r) Lease Management, part of Oracle E-Business Suite, to help automate leasing processes, enhance operational efficiency and create a scalable platform to help the organization drive and support future growth. NFC is working with Genpact, a Certified Partner in the Oracle PartnerNetwork, to manage the implementation process.

"Core to NFC's success is our ability to drive customer and dealer loyalty through the levels of service we deliver. Oracle Lease Management will help us take another step in delivering 'unexpected' customer service by more effectively and efficiently managing the process of booking, funding and administering leased assets and reduce processing and integration costs," said Mark Garlock, Manager, Accounting and Finance IT for NFC.

NFC provides financing options combined with dependable, consistent service and knowledge to satisfy all International's customer and dealer equipment financing needs. By using Oracle Lease Management, the finance company can create a technology infrastructure that consolidates business processes and eliminates many manual tasks associated with its leasing operations, resulting in improved operational efficiency. The system, which integrates with NFC's PeopleSoft Enterprise Financial Management and PeopleSoft Enterprise Asset Management systems from Oracle, is expected to help reduce the need for time-consuming and manual data entry for multiple systems. By integrating data from multiple systems in a single source, the company will also increase visibility of critical information.

Oracle Lease Management is designed for asset-based finance companies, and provides front-to-back end automation of leasing processes that helps organizations reduce processing and integration costs. It provides a single source for customer, investor, vendor, asset, contract and invoice information, driving more informed decisions.

Administrative costs are among the highest expenses of any finance company. With Oracle Lease Management, organizations like NFC can streamline traditionally labor-intensive processes, such as contract authoring, asset management and creation of buyout quotes, thereby lowering administrative costs. It uses productivity tools - such as templates, workflow, contact copying capabilities and data import functions - to capture contract information, account for transactions and track lease and asset details. It also offers the ability to import contracts created in other systems for further efficiency and version control.

"We are pleased that NFC has selected Oracle Lease Management to help it improve the efficiency of its business processes while providing the scalability it requires to drive future growth," said David Sardilli, Oracle Senior Vice President for Financial Services, Industries Business Unit. "We are excited to work with NFC as they leverage advanced technology to help them maintain and extend their competitive edge."

Trusted Partner Streamlines Implementation
NFC selected Genpact, a global provider of business and technology services, as its partner for the Oracle Lease Management implementation. Genpact has one of the largest leasing practices globally, with more than 2,000 professionals focused on the industry. It brings proprietary Genpact tools, program management, Oracle Lease Management functional leasing process design, technical development and integration services to the implementation.

"Genpact was a logical choice for NFC," said Garlock. "We are confident that Genpact's extensive knowledge of business processes and challenges inherent to the leasing industry, as well as its expertise in implementing Oracle applications, will help us accelerate and enhance the overall value of our implementation."

"As a strategic partner for business transformation, Genpact is leveraging its strong leasing industry expertise and Oracle Lease Management capabilities to streamline processes, improve productivity and enhance reporting capabilities for Navistar Financial," said Michael Corning, Senior Vice President, Global Financial Services, Genpact.