MARKET SCAN INFORMATION SYSTEMS.Business: Auto leasing software Location: Westlake Village Revenue Growth: 437% THE second-fastest grower on last year's list, Market Scan Information Systems continues to see sales of its car leasing software grow thanks to a strong economy, increased national marketing efforts and a jump in the number of offered leasing plans. Revenues for the Westlake Village-based company reached $28 million in 1998, up from $5.2 million in 1996. The company's software, Lease Prophet prophet [Gr.,=foreteller], a religious leader and spokesperson, particularly used in the Bible. The prophets emitted messages from the divine through inspired speech, the interpretation of omens and dreams, and the casting of lots and divination. , helps car dealers find the right lease program for customers, helping them wade through a slew of variables such as down payment and monthly payment amounts, miles driven per year, and the number of years the customer expects to keep the car. Sales have increased as leasing becomes more complicated and the market more saturated saturated /sat·u·rat·ed/ (sach´ah-rat?ed) 1. denoting a chemical compound that has only single bonds and no double or triple bonds between atoms. 2. unable to hold in solution any more of a given substance. with options. "Leasing is growing in popularity and lending institutions Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in that offer leasing are doing everything they can to be competitive," said Chief Executive Rusty rust·y adj. rust·i·er, rust·i·est 1. Covered with rust; corroded. 2. Consisting of or produced by rust. 3. Of a yellowish-red or brownish-red color. 4. West. Previously focused on leases for new cars, the company earlier this year released software for used-car leasing. Used cars are even more complicated because two cars of the same make and model could have totally different values, while new cars are valued by consistent sticker prices sticker price n. The list price for an automobile or other motor vehicle. , West said. Because the majority of Market Scan's new-car software customers also purchased the used-car software, the company doubled its revenue base and expects sales to hit $90 million. "Our database is 25 to 30 times the size it was three or four years ago," West said. "And my hair's falling out because of it." Market Scan updates lease information to its customers' computer systems every night over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , its employees making from 100,000 to 4 million changes to lease package information each day. West developed the first version of Lease Prophet for his father, Russell, who was in the leasing business. He and his father began marketing the software in Atlanta in 1989. They moved to L.A. in L.A. In is a compilation of studio recording by Various Artists. It was originally released in 1979 as an LP by Rhino Records. Track listing Side One The Kats 1990 and began selling their software full-time. |
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