To enter Financing Statements into either the Australian or New Zealand PPS Registers, you can either manually enter them via the PPSR Web interface or use the finPOWER Connect PPSR Add-On. This Add-On electronically registers the Security in the PPSR and returns the relevant registration details. Ongoing management of the registrations, such as Amendments and Discharges, is as simple as clicking a button
The PPSR interface offers two key benefits, namely Speed and Accuracy.
As the PPSR is entirely electronic, information that has already been entered into finPOWER Connect is electronically transmitted to the PPS Register via the Internet and XML technologies. Therefore no additional keying of information is required. Also, because there is no additional manual data entry the possibility of errors during data entry is minimised.
Within finPOWER Connect the Security Register Add-On provides a central point to record details of security interests you have.
It adds key functionality to record collateral information to an Account and/or Clients. Whether your collateral is Land and Buildings, Motor Vehicles, Insurance Policies, Aircraft, Boats, Investments or general goods the Security Register module will capture all the relevant information relating to it.
The Security Register Add-On is pre-configured for the relevant legislation pertaining to Personal Property Security in both Australia and New Zealand. The Security Register Add-On allows you to manually capture key PPSR information. The PPSR Add-On will automate PPSR functions from within finPOWER Connect.
The Security Enquiry Add-On incorporates various interfaces to third parties to enquire upon Security information such as Motor Vehicles.
In Australia, the finPOWER Connect Security Enquiry Add-On provides a direct interface to CarHistory, an Equifax company.
In New Zealand, the finPOWER Connect Security Enquiry Add-On provides a direct interface to MotorWeb and Centrix to provide a report on all details of a Motor Vehicle. MotorWeb provides a Vehicle Information Report (VIR) that is the result of 42 different checks made on numerous private and Government databases. Centrix provides a Motor Vehicle Report (Wheels) with optional valuation information.
Vehicle Reports include information such as:
- Make, Model, Colour, Year and other basic vehicle details
- Whether the Vehicle has a Security Interest, i.e. PPSR Search
- Inconsistent odometer readings or wind-backs
- Expired RUCs, WOFs, or licenses (NZ only)
- Flood damaged, Stolen status checks
- Deregistrations/ Written Off (possible accident damage)
Once the Report is retrieved, the key details on the vehicle are then used to automatically populate the Security Item within finPOWER Connect. This reduces manual keying and improves accuracy, especially when that information is then used to register a Security Interest with the PPSR.
A sample of the CarHistory Report can be found here http://www.carhistory.com.au/products/car-history-report
A Sample of the MotorWeb VIR can be found here http://www.motorweb.co.nz/take-a-tour.do
A sample of the Centrix Wheels Report can be found here https://www.centrix.co.nz/Business/View+Sample+Reports.html
Please note, this module is not required for the following services, if the Security Register Add-On has been purchased.
- Centrix Wheels