Bart Wilson

Company: DrivingSales

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Bart Wilson

DrivingSales

Jul 7, 2019

DEALERSOCKET ANNOUNCES SEAMLESS INTEGRATION FOR CREDIT AND FINANCE PROCESS

New enhancements simplify workflows by fully integrating the credit application process directly into DealerSocket’s CRM and iDMS software

 

DALLAS, July 1, 2019  DealerSocket, Inc., a leading software provider for the automotive industry, rolled out several major enhancements designed to seamlessly integrate and simplify workflows related to the credit application process. The new capabilities are available today in DealerSocket’s award-winning Customer Relationship Management (CRM) software solution and in its independent-serving Dealership Management System (iDMS).

“Our latest enhancements take two historically separate workflows and seamlessly integrate them to provide visibility and a simpler user interface for our dealers, resulting in a better consumer experience,” said DealerSocket President and CEO Sejal Pietrzak. “DealerSocket’s new enhancements are designed to help dealers better manage and control credit applications, save time, and improve their customers’ experience, while fully complying with their regulatory obligations.”

Dubbed SocketCredit, DealerSocket’s new credit workflow enhancement for its CRM allows both franchised and independent dealers to manage the entire credit application process from within this key front-end operations tool. SocketCredit also offers the ability to text or email a secure credit application to a consumer directly from the CRM, as well as prequalify customers for vehicle financing via a soft credit pull. Creating a seamless transition between online and in-store processes with easy-to-use and integrated software is core to DealerSocket’s strategy to improve the customer experience.

Once completed, SocketCredit’s customizable online credit application seamlessly passes directly into the CRM as a sales opportunity, with line-by-line credit application details populating a customer profile within the CRM. A full credit pull can then be performed within the CRM — the new enhancement returning the customer’s credit report and score, as well as results from the compliance checks the tool now performs.

The compliance checks aid dealers in complying with the Federal Trade Commission’s Red Flag and Risk-Based Pricing rules, adverse action notice requirements under the Equal Credit Opportunity Act, and requirements set forth by the U.S. Treasury Department’s Office of Foreign Assets Control. Dealership managers can also access within the upgraded CRM digital audit logs containing timestamps and user names. They can also track online consent, identity verification, and whether required disclosures were made.

DealerSocket’s iDMS also received several upgrades, one of which is designed to streamline the finance process for independent dealers. Now, SocketCredit credit applications completed online get passed into the software tool’s deals module, setting the stage for a full credit pull and the required compliance checks.

DealerSocket’s iDMS also received two new loan-servicing features geared toward buy-here, pay-here dealers. They include enhanced credit reporting and interactive voice response technology. The prior provides BHPH operators greater control and visibility into credit reporting records on accounts sent to the three main credit bureaus, allowing them to review and approve the credit reporting file as well as make needed modifications to an account before submitting a borrower’s repayment history to the credit reporting agencies. The addition of IVR technology is designed to transform BHPH dealerships into true “buy-here, pay-anywhere” operations by allowing borrowers to make loan payments over the phone and without the assistance of dealership employees.

“SocketCredit enables our CRM users to more quickly and readily capture consumer credit information during the car research and shopping process, while iDMS now offers a more streamlined credit workflow and improved dealer-processing enhancements,” said DealerSocket Co-Founder and Chief Product Officer Brad Perry. “With these new enhancements, DealerSocket gives both franchise and independent dealers simple and valuable improvements in critical workflows for credit and finance that is centralized, transparent, easy to use, and compliant.”

About DealerSocket

DealerSocket is a leading provider of software for the automotive industry, offering a suite of seamlessly integrated products to help dealers sell and service vehicles more profitably, while improving their customers’ experience. DealerSocket’s suite of products offers dealers of all sizes advanced Customer Relationship Management (CRM), innovative Digital Retail, Marketing and Websites, robust Vehicle Inventory Management, insightful Analytics Reporting, and solutions to streamline dealer operations such as Desking, Credit Reporting, Compliance, and an independent-geared Dealer Management System (DMS). DealerSocket’s software has helped its customers sell more than 100 million vehicles throughout its 18-year history. For more information, visit DealerSocket.com or follow us on TwitterLinkedIn, and Facebook.

 

Contact:

Patrick Mendoza

PMendoza@DealerSocket.com

469-828-6325

Bart Wilson

DrivingSales

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Bart Wilson

DrivingSales

Jun 6, 2019

automotiveMastermind Successfully Achieves Excellence in Data Security and Confidentiality

 

NEW YORK (June 25, 2019) - In a time when data security is increasingly critical to customers, automotiveMastermind (Mastermind) is dedicated to having thorough data protection standards. As a leading provider of predictive analytics and marketing automation solutions for dealerships and manufacturers, the company today announced it had successfully passed the SOC 2 Type II examination<https://www.automotivemastermind.com/soc-2-type-ii/> in accordance with attestation standards established by the American Institute of Certified Public Accountants (AICPA).

This independent examination proves Mastermind's commitment to five major trust principles including security, availability, processing integrity, confidentiality and privacy.

"We manage a vast amount of data and with that comes a great responsibility to protect it," said Johannes Gnauck, Founder and Co-CEO of Mastermind. "Undergoing the SOC examination demonstrates our commitment to implementing best practices related to data security and provides assurance to Mastermind's dealer partners that the data they access on a daily basis has not been compromised."

SOC 2 signifies reporting on controls relevant to security, availability, processing integrity, confidentiality or privacy. Mastermind's indicated principle for this examination was security, signifying the organization's systems are protected against unauthorized access, use, or modification and meet the commitments and system requirements.

The official SOC 2 Type II examination review period took place from August to October 2018 by Schellman & Company, LLC and was completed successfully.

About automotiveMastermind
automotiveMastermind<https://nam05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.automotivemastermind.com%2F&data=02%7C01%7Crana%40automotivemastermind.com%7Cef44583dcb804f158e5e08d6f683f609%7Cdb4867916e4245c19dd17c2104345c46%7C0%7C0%7C636967443970430459&sdata=wi2Bt%2BEkfwRKMiyLbOe1PtK11bLXFx7lDiC%2BqqSIoF8%3D&reserved=0>, a business line of IHS Markit (Nasdaq: INFO), is a leading provider of predictive analytics and marketing automation solutions to help automotive dealers improve sales and communicate better with prospective customers. For more information, visit automotiveMastermind.com<https://nam05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.automotivemastermind.com%2F&data=02%7C01%7Crana%40automotivemastermind.com%7Cef44583dcb804f158e5e08d6f683f609%7Cdb4867916e4245c19dd17c2104345c46%7C0%7C0%7C636967443970440472&sdata=%2BsU7vakKGZJWIO%2F1J8VJnPYhsmeZWuvrGbnYWwwqdlM%3D&reserved=0>. Based in London, IHS Markit is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide.

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DrivingSales

Director of Operations

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Bart Wilson

DrivingSales

Jun 6, 2019

Hyundai Dealers that Subscribe to CDK Hailer Service to Offer Lyft Rides for Service Customers

FOUNTAIN VALLEY, Calif., June 25, 2019 – In the next several months, Hyundai dealers across the country that subscribe to Hailer service through CDK Global, Inc. (Nasdaq: CDK) can give millions of owners easy access to Lyft rides while their vehicles are being serviced. Through Hailer™, a first-of-its-kind application developed by CDK in partnership with Lyft, participating Hyundai dealers that subscribe to Hailer service through CDK can now help eliminate transportation barriers by providing Lyft rides for customers, which can either be offered free of charge or at a cost that can be automatically added to the customer’s service bill for seamless payment at each individual dealership’s discretion.

These Lyft rides help address significant customer hurdles around transportation while a vehicle is being serviced or inspected, minimizing time spent waiting at the dealership. Previously, service customers could take the dealer-offered shuttle or loaner vehicle, wait for their car to be serviced or find their own transportation to and from the dealership. Hailer has the opportunity to increase customer satisfaction through a decline in wait times, which reflects an industry shift that has the potential to improve customer experience and business efficiency.

“Hailer provides dealerships with greater efficiencies,” said Mahesh Shah, executive vice president, chief product and technology officer, CDK Global. “We are excited that Hyundai is providing its customers with Lyft convenience at participating dealerships with CDK Drive, while affording its dealers seamless backend integration. We look forward to enabling improved customer experiences through this comprehensive dealer solution.”

As an example, a Hyundai customer calls their service advisor to schedule an appointment at a participating dealership. At the dealership, the service advisor offers a Lyft ride after writing up the work order. The Lyft ride arrives a few minutes later to take the customer to work, and when the work is complete, the service advisor arranges another Lyft ride back to the dealership. The customer gets a text message through Hailer when the Lyft ride is in route, and the rides are automatically added to the customer’s service bill by the dealership. The process is simple for customers and does not require that they have the Lyft app on their smartphone to order rides.

The integration is also easy for participating Hyundai dealers because it allows them to automate billing, set ride spending limits and approve service. The improved Hailer experience simplifies a dealership’s service to customers and ultimately reduces the number of customers waiting in service lounges.

“Our customers are going to really like the convenience of Lyft,” said Barry Ratzlaff, vice president, customer satisfaction, Hyundai Motor America. “Hyundai dealers who are already using Hailer have reported a smooth integration allowing them to call Lyft rides for their customers. Customers can now easily get on with their day while the inspection or service work is being performed on their car.”  

“At Lyft, we’re passionate about providing transportation experiences that enhance customer satisfaction and create a streamlined, more cost-efficient solution for our business partners,” said Gyre Renwick, vice president, Lyft Business, “Hailer has the potential to disrupt and evolve the auto dealership industry, and we’re excited to partner with Hyundai to introduce this solution at scale for participating dealerships across the country.”

 

Lyft
Lyft was founded in June 2012 by Logan Green and John Zimmer to improve people’s lives with the world’s best transportation. Lyft is the fastest growing rideshare company in the U.S. and is available to 95 percent of the U.S. population as well as in Ontario, Canada. Lyft is preferred by drivers and passengers for its safe and friendly experience, and its commitment to effecting positive change for the future of our cities, as the first rideshare company to offset carbon emissions from all rides globally.

 

CDK Global, Inc.
With more than $2 billion in revenues, CDK Global (Nasdaq: CDK) is a leading global provider of integrated information technology and digital marketing solutions to the automotive retail and adjacent industries. Focused on enabling end-to-end automotive commerce, CDK provides solutions to dealers in more than 100 countries around the world, serving approximately 30,000 retail locations and most automotive manufacturers. CDK solutions automate and integrate all parts of the dealership and buying process from targeted digital advertising and marketing campaigns to the sale, financing, insuring, parts supply, repair, and maintenance of vehicles. Visit cdkglobal.com.

 

Hyundai Motor America
Hyundai Motor America is focused on delivering an outstanding customer experience grounded in design leadership, engineering excellence and exceptional value in every vehicle we sell. Hyundai’s technology-rich product lineup of cars, SUVs and alternative-powered electric and fuel cell vehicles is backed by Hyundai Assurance—our promise to deliver peace of mind to our customers. Hyundai vehicles are sold and serviced through more than 830 dealerships nationwide and the majority sold in the U.S. are built at U.S. manufacturing facilities, including Hyundai Motor Manufacturing Alabama. Hyundai Motor America is headquartered in Fountain Valley, California, and is a subsidiary of Hyundai Motor Company of Korea.

Please visit our media website at www.HyundaiNews.com

Hyundai Motor America on Twitter | YouTube | Facebook | Instagram

Bart Wilson

DrivingSales

Director of Operations

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Bart Wilson

DrivingSales

Jun 6, 2019

Attention Sales Managers: Wow us at DSES

We're going to try something this year at the DrivingSales Executive Summit.  We are looking for the World's Greatest Sales Managers to present their best motivational speech on the main stage at DSES.  Unleash your inner Vince Lombardi and show us what you've got.  

The dealer panel will select the five finalists to deliver a 7-minute motivational speech.  Finalists will get a free seat at DSES.  Submit a 3-minute clip to be in the running.  Apply here today!

Bart Wilson

DrivingSales

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Bart Wilson

DrivingSales

Jun 6, 2019

Spireon Announces Availability of GoldStar Connect in Spanish at NIADA 2019

Vehicle intelligence company extends value of GPS platform for Buy Here Pay Here dealers and consumers with Spanish language option

LAS VEGAS, NV., June 18, 2019—Spireon Inc., the vehicle intelligence company, today announced at the National Independent Automobile Dealers Association’s (NIADA) 2019 Expo and Convention that its GoldStar® Connect solution is now available in Spanish. The GoldStar Connect app offers Buy Here Pay Here (BHPH) dealers and lenders connected car features and benefits meant to increase customer loyalty and profitability. With the addition of the Spanish language option, Spanish-speaking consumers can now benefit from the app’s industry-leading GPS services and additional capabilities.

“As a company, we pride ourselves on meeting the needs of our customers, and, in the case of GoldStar Connect, this includes ensuring BHPH dealers have the flexibility to offer a convenient, personalized experience to their Spanish-speaking buyers,” said Brian Deeley, director of product management at Spireon. “By releasing the app in the second most commonly spoken language in the U.S., Spireon is now able to expand its reach, providing a better experience for dealers and lenders, while also offering more consumers the benefits of a feature-rich, connected car experience.”

According to the U.S. Census Bureau, the Spanish-speaking population in the U.S. is expected to reach 74.8 million by 2030, which equates to 21% of the country’s population. With upwards of 41 million native Spanish speakers in the U.S., Spireon’s addition of the Spanish language feature to the GoldStar Connect app will provide a more user-friendly experience to better meet the needs of this growing customer segment and the businesses who serve them.

GoldStar Connect provides unparalleled insights to help dealers and lenders mitigate risk, while increasing value and convenience for consumers. The same connectivity features consumers have grown to love, such as vehicle health alerts, recovery solutions for stolen cars and real-time location access, are now available in the Spanish-language version of the app, and include:

Safety & Security—GPS tracking and geofencing capabilities enable consumers to know the location of the vehicle at all times, helping to ensure the safety of the vehicle and the driver while providing peace of mind

Trip History—allows consumers to view where their car has been by date, time and duration to provide full transparency 

Smart Alerts—consumers receive speeding, geofenced locations and battery condition alerts directly to their mobile devices

Stolen Vehicle Recovery—an in-app recovery guide provides vehicle location data and instructions to assist in reporting and recovery of a stolen car

  • Insurance Discounts—many carriers provide auto insurance discounts of up to 15%

The new GoldStar Connect Spanish feature is now available, and can be experienced firsthand at booth #423 during NIADA exhibit hours, June 17–20 at the Palazzo Venetian in Las Vegas, Nevada. To learn more, visit www.spireon.com/goldstar-connect/.

 About Spireon

Spireon, the vehicle intelligence company, is the leading provider of aftermarket telematics solutions in North America. By equipping cars, trucks, trailers and other mobile assets with GPS devices and sensors, Spireon turns any vehicle into a connected vehicle. Award-winning products GoldStar, Kahu and FleetLocate deliver 24×7 asset visibility and actionable insights to auto dealers, lenders, transportation companies, service fleet managers, rental car companies and consumers to increase safety and productivity, boost profits and protect assets. Spireon’s NSpire IoT platform powers all Spireon solutions, supporting nearly 4 million active subscribers and processing more than 1 billion data events each month. Learn more at www.spireon.com.

Source: U.S. Census Bureau

 

For more information, contact:
Havas Formula for Spireon

Spireon@HavasFormula.com 
619-234-0345

 

Bart Wilson

DrivingSales

Director of Operations

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Bart Wilson

DrivingSales

Jun 6, 2019

SpinCar Partners with Carfax to Promote Transparency in Vehicle Merchandising

Platform integration provides consumers with one-click access to Carfax vehicle history reports

from 360° WalkArounds®

SYRACUSE, NY – June 18, 2019 – SpinCar, the global leader in digital automotive merchandising software, announced today a partnership with Carfax that enables car shoppers to seamlessly access Vehicle History Reports directly from 360° WalkArounds. Carfax dealers can now showcase Vehicle History Reports from within both exterior and interior vehicle views for any used car. The integration enables auto dealers to provide greater transparency to car shoppers by offering them an easy way to access Carfax Reports while they are exploring vehicles on a dealer’s website. SpinCar is the first and only digital merchandising platform to offer this integration.

SpinCar’s digital merchandising platform enhances online vehicle detail pages (VDPs) by delivering more engaging and personalized experiences for shoppers. In partnership with Carfax, Vehicle History Reports have been added as clickable feature buttons on all exterior and interior 360° vehicle WalkArounds. Shoppers can access the Vehicle History Report by clicking on the Carfax button from within any walkaround. This new capability is available for all active Carfax dealers.

“SpinCar and Carfax both share a commitment to helping people more confidently shop for used vehicles,” said Jim Sharifi, spokesman for Carfax. “Whether it’s by providing valuable vehicle history information or by delivering interactive tools to empower consumers, we share a common goal of helping buyers and sellers build trusted relationships. This partnership is a win for both consumers and dealers, and we look forward to working with SpinCar to find even more ways to create greater levels of transparency in the car buying process.”    

“Carfax is the most trusted source of vehicle history information for used car shoppers, and we are thrilled to be partnering with them to make it even easier for consumers to access the information they need to make more informed buying decisions,” said Devin Daly, SpinCar Co-Founder and CEO. “The increased visibility and seamless access to Vehicle History Reports make virtual walkarounds an even more engaging online experience. For dealers, this integration provides a powerful new way to promote Carfax Reports for their vehicles and build even greater levels of trust and confidence for online shoppers.”   

About SpinCar

SpinCar offers automotive dealers, wholesalers and OEMs the industry’s most advanced platform for digital automotive merchandising. The company’s 360° WalkArounds® and Feature Tour® products build trust between buyers and sellers by bringing the physical showroom experience to car shoppers wherever and whenever they want. SpinCar’s proprietary shopper behavioral data and VINtelligent® Retargeting solution enable vehicle sellers to deliver hyperpersonalized interactions across the entire car shopping journey. To date, more than 260 million virtual WalkArounds have been experienced by car shoppers across 15 countries. To learn more about SpinCar, visit SpinCar.com.

About Carfax

Carfax, a unit of IHS Markit (Nasdaq: INFO), helps millions of people every day confidently shop, buy, own and sell used cars with innovative solutions powered by Carfax vehicle history information. The expert in vehicle history since 1984, Carfax provides exclusive services like Carfax Used Car ListingsmyCarfaxCarfax History-Based Value and the flagship Carfax® Vehicle History Report™ to consumers and the automotive industry. Carfax owns the world’s largest vehicle history database and is a nationally recognized top workplace by The Washington Post and Glassdoor.com. Shop, Buy, Own, Sell – Show me the Carfax™. Based in London, IHS Markit is a world leader in critical information, analytics and solutions.

Bart Wilson

DrivingSales

Director of Operations

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Bart Wilson

DrivingSales

Jun 6, 2019

The Impact Time has on the Customer Experience


Michelle Denogean from Roadster discusses their research on time and customer satisfaction. How have you found ways to reduce idle time in your sales process?

Bart Wilson

DrivingSales

Director of Operations

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1 Comment

Kenneth Bittner

Leadership Excellence Institute

Jun 6, 2019  

In the "old days" (back when I was a salesman) we utilized "system selling".  As a part of that system, we learned how to develop a commitment to buy (right now), get the offer in writing and get a "good faith" deposit.  The ONLY TIME we left the customer was when we took their offer and deposit to the sales desk.  Before we left them, we handed them our dealership "Why Buy Here" book with instructions to read the first several pages.  This gave them something (positive) to do while we were gone.  We were immediately sent back to our customer.  When we felt the stage was set (to present our first offer we picked up the phone and called the sales desk for figures and instructions.  We conducted our "drop, drop, split" like that...never leaving the customer alone.  The floor manager (closer) was always "hawking" the showroom floor and if we couldn't close it, in he came.

I know...I know..."old school".  But...it sold me a lot of cars and made me a lot of $$$.

The less you leave your customer alone, the better off you are.

Bart Wilson

DrivingSales

Jun 6, 2019

Spireon Appoints Industry Veteran Brian Skutta President of Automotive

Vehicle finance and franchise dealer segments combine forces for future growth

IRVINE, Calif., June 12, 2019Spireon, the vehicle intelligence company, today announced the unification of its vehicle finance, Buy Here Pay Here, lender, and franchise dealer product offerings into a combined Automotive portfolio, and the appointment of Brian Skutta as its president. Under Skutta’s leadership, Spireon’s automotive-focused segments will leverage its innovative product lineup and already deep bench of industry experts to best serve its customers into the future.

“Brian has extensive experience in the automotive sector and an outstanding history of driving both top and bottom line results while ensuring the customer’s needs remain top of mind,” said Kevin Weiss, CEO of Spireon. “With two flagship products—Kahu and GoldStar—meeting the connected vehicle needs of our automotive customers, Brian’s expertise and unique vantage point will help elevate the business to its highest potential.”

Before joining Spireon, Skutta was executive vice president of dealer sales and service at TrueCar, playing a pivotal role in the development and execution of the company’s dealer relations turnaround and product portfolio expansion. He previously held c-suite and executive leadership positions at AutoAlert, VinSolutions and AutoTrader.com.

“Spireon has a proven track record of exceptional leadership in the connected vehicle space, having launched the first truly connected solution of its kind—Kahu,” noted Skutta. “I’m joining the company at a pivotal time and look forward to helping grow our already impressive customer base of over 20,000 companies, boost our contributions to the industry and further solidify our commitment to the companies we serve.”

About Spireon

Spireon, the vehicle intelligence company, is the leading provider of aftermarket telematics solutions in North America. By equipping cars, trucks, trailers and other mobile assets with GPS devices and sensors, Spireon turns any vehicle into a connected vehicle. Award-winning products GoldStar, Kahu and FleetLocate deliver 24x7 asset visibility and actionable insights to auto dealers, lenders, transportation companies, service fleet managers, rental car companies and consumers to increase safety and productivity, boost profits and protect assets. Spireon’s NSpire IoT platform powers all Spireon solutions, supporting nearly 4 million active subscribers and processing more than 1 billion data events each month. Learn more at www.spireon.com

#    #    #

Bart Wilson

DrivingSales

Director of Operations

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Bart Wilson

DrivingSales

Jun 6, 2019

Jaguar Land Rover Retailers Onboard New automotiveMastermind Sales Platform

 

Nearly 300 retailers across the United States are eligible to access Market EyeQ predictive analytics technology

NEW YORK (June 12, 2019) - Nearly 300 independently owned and operated Jaguar Land Rover<https://www.jaguarlandrover.com/> retailers will have access to Market EyeQ by automotiveMastermind (Mastermind) starting this month, enhancing the customer experience for prospects in the market for a new vehicle.

Market EyeQ<https://www.automotivemastermind.com/market-eyeq/#anchor> provides access to all prospective buyers for a dealer, by segment, on a single sales platform. It is backed by real-time proprietary data and algorithms to identify, communicate with and close more buyers in a dealer's market.

"Jaguar Land Rover is synonymous with luxury, innovation and a great customer experience," said Marco Schnabl, founder and co-CEO of Mastermind. "When dealerships implement Market EyeQ, they will be able to take that experience immediately to the next level, adding data-driven insights of their entire market and allowing them to provide an individualized approach for each customer, enhancing the overall experience and allowing dealers to sell more cars."

By leveraging other IHS Markit data including descriptive demographic and lifestyle insight as well as vehicle history details, dealers have an exclusive 360-degree view of their market and customers. Mastermind's relationship with TransUnion<https://www.transunion.com/> also helps uncover potential sales opportunities with customers who have not previously bought from a dealership. This breadth of proprietary data enriches the retailer's own data held in their Dealer Management System (DMS) and allows dealers a holistic view of their local market including insight on prospects that are unknown to them.

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About automotiveMastermind
Founded in 2012, automotiveMastermind, a business unit of IHS Markit (Nasdaq: INFO), is a leading provider of predictive analytics and marketing automation solutions for the automotive industry. Market EyeQ by Mastermind is a single sales platform that identifies, communicates with, and closes every buyer in a local market. Mastermind is headquartered in New York City and San Francisco. For more information, visit automotivemastermind.com<http://automotivemastermind.com/>. Based in London, IHS Markit is a world leader in critical information, analytics and solutions.

Bart Wilson

DrivingSales

Director of Operations

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Bart Wilson

DrivingSales

Jun 6, 2019

DealerSocket Launches an Upgraded Version of Their Inventory+ Software

New enhancements offer dealers greater control and visibility achieving higher profit per vehicle

DALLAS--DealerSocket, Inc., a leading software provider for the automotive industry, today announced an upgraded version of its Inventory+ software solution. The inventory management tool now touts a new, easy-to-use interface, intuitive navigation, and expanded reporting capabilities that provide value to both single-store operations and multi-rooftop dealer groups. The new features enable customers to sell their vehicles at a greater profit, which is in line with DealerSocket’s longstanding focus on profit over velocity.

“After listening to our customers, we invested significant capital and resources to make Inventory+ a best-in-class product focused on the primary needs of dealers,” said DealerSocket President and CEO Sejal Pietrzak. “Our upgraded version of Inventory+ is yet another step as we continue transforming our inventory management product suite to support the entire vehicle lifecycle. Our software gives our customers full control of their inventory strategy and ensures they are stocking the right vehicles to yield the highest profits.”

DealerSocket’s Inventory+ now has a user experience and design that matches the rest of the company’s suite of products, meaning that a user of DealerSocket’s suite will have familiarity and experience with the design, making the training of staff on DealerSocket’s software simpler and more effective for dealers.

The enhancements and innovations for Inventory+ include:

  • All New Inventory Manager with a Simpler User Experience: Considered the hub of Inventory+, Inventory Manager now has a new look and feel with a powerful search engine and group management capabilities. Tasks that previously took hours to complete can now be performed in minutes, whether managing inventory across a single lot or a multi-store group.
  • Bulk Pricing Engine: Built into the backbone of Inventory Manager is Bulk Pricing, which dealers and dealer group operators can use to identify new and used vehicles by age, trim, make, along with other attributes, and adjust pricing by dollar amount or percentage. Pilot customers using the new bulk pricing engine are making real-time price changes to vehicles on their lot to match market conditions, allowing them to sell faster and at a greater profit.
  • Transportation Notifications: Inventory+ can now notify a shipper or carrier when a group trade or dealer transfer occurs. With two clicks, dealers can send a shipper or carrier all the pertinent information to quickly and efficiently order vehicle transportation.
  • Group Management: Along with the strong business intelligence available within Inventory+, dealer groups can segment by region, pre-owned, and a host of other attributes. The new Group Management capabilities provide powerful inventory management, reporting and analytics, group trade, and centralized appraisals.
  • Transparent Reporting and Analytics: The new reporting engine has more comprehensive capabilities for dealer groups that provides more transparency across stores, taking away the costly and time-consuming manual reports.

 

“DealerSocket’s fundamental objective with our Inventory+ software has always been about maximizing profit for our dealers. The major enhancements we have just released ensure that every vehicle has an opportunity to be sold at a timely profit,” said Steve Meeker, DealerSocket’s General Manager of Inventory+. “Whether a dealer has a single lot or multiple rooftops, the innovative functionality we released today will provide benefits to help our dealers grow their business successfully.”

To learn more, visit www.dealersocket.com/inventoryplus

About DealerSocket

DealerSocket is a leading provider of software for the automotive industry, offering a suite of seamlessly integrated products to help dealers sell and service vehicles more profitably, while improving their customers’ experience. DealerSocket’s suite of products includes advanced Customer Relationship Management (CRM), innovative Digital Marketing and Websites, robust Vehicle Inventory Management, insightful Analytics Reporting, and solutions to streamline dealer operations such as Desking, Credit Reporting, Compliance, and a Dealer Management System (DMS) for used car dealers of all sizes. DealerSocket employs nearly 1,000 team members serving more than 8,000 dealerships. For more information, visit DealerSocket.com or follow us on TwitterLinkedIn, and Facebook.

Bart Wilson

DrivingSales

Director of Operations

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