Grapevine, Texas, January 21, 2020 -- DealerBuilt, an enterprise Dealer Management System (DMS) for automobile dealers nationwide, today announced that its accounting module is now integrated with cPayPlus. This integration enables dealers to seamlessly initiate electronic payment to vendors directly within the accounting module’s interface, saving significant time and money with an average savings per transaction of $13.37.

“Many dealerships today have a payables problem, with around 60 percent of all vendor payments made by check rather than electronic payment. Dealers don’t have the time or resources to resolve the problem of storing vendor bank information and keeping it updated and secure,” said Darin Horrocks, President of cPayPlus, “Using our integrated service, dealers can simplify their bill payment process and feel confident that every payment is approved and accurate. We have a solution for 100 percent of vendor payments and there’s no need for the dealer to worry about how each vendor is paid. The solution is easy to use since it follows a dealer’s normal payables process inside DealerBuilt and simply removes the check printing,” Horrocks added.

cPayPlus is a cost-free solution for dealers. There are no software or service costs, as fees are earned by sharing the rebate the solution earns for the dealership when vendors are converted to virtual credit cards. According to Horrocks, the typical dealership spends an average of $5 simply making a payment when you consider labor, material costs, postage, follow up and tracking outstanding payments. Since cPayPlus generates rebates via the virtual credit cards, dealerships end up saving the normal $5 transaction cost while also earning money, driving the total savings per transaction to a healthy average of $13.37.

DealerBuilt’s accounting module is a sophisticated accounting package developed exclusively for dealers that centralizes business operations to reduce complexity. It is highly scalable and supports multiple general ledgers under a single environment. It is successfully used by multi-company, multi-franchise groups to streamline reporting and gain improved visibility into financial performance.

With cPayPlus, DealerBuilt dealers receive invoices and simply input them into the accounting module. The dealership approves payments and decides which invoices need to be paid. Payments are then initiated, but rather than printing checks, the payment information is communicated to cPayPlus. The payment portal verifies whether each vendor already exists within its system. If not, it reaches out to the vendor to determine their preferred method of payment. Once the vendor’s payment method is designated and the funds are available, the payment is made to the vendor. There is no back and forth with vendors or paper to track, just a streamlined system to make paying bills simple. cPayPlus reduces the cost of check printing and eliminates the need to keep vendor bank information secure and up to date. It also supports two-level approval and full reconciliation.

The system is paperless, and transfers are automatic, eliminating the printing, signing and mailing of checks. cPayPlus tracks the payment to ensure funds are received and provides visibility and reporting so dealers can always see up to date information.

“DealerBuilt continues to innovate and deliver relevant solutions that meet the evolving needs of our dealer clients. This partnership enables our clients to boost productivity while reducing costs, all without ever having to leave their DMS,” said Mike Trasatti, CEO, DealerBuilt/LightYear Dealer Technologies LLC.

cPayPlus and DealerBuilt will be conducting demonstrations at booth # 971C during the 2020 NADA show in Las Vegas, NV, February 15-17. To schedule a demo visit: https://dealerbuilt.com/request-a-demo/

About cPayPlus:

Electronic payments have been available to businesses for over 40 years, yet most U.S. business to business payments are still made via paper. cPayPlus fast forwards progress by automating 100% of a business’ vendor payments by its next payment run, making bill payment simple. The company’s mission is to get better every day at providing payments software and services to its customers. It constantly works to deliver solutions that simplify & optimize customers’ and partners’ processes. For more information visit: https://cpayplus.com/

About DealerBuilt:

DealerBuilt is a premier provider of Dealer Management Systems for retail automobile dealerships. DealerBuilt's integrated LightYear DMS has proven to be an effective solution for the operation of successful dealers and dealership groups of all sizes nationwide. DealerBuilt, located in Mason City, IA, and Grapevine, TX, has enjoyed steady growth as automobile dealers seek additional choices to manage their dealer operations. For more information about DealerBuilt, call (888) 808-0733 or visit  https://dealerbuilt.com

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Grapevine, Texas, December 10, 2019 -- DealerBuilt, an enterprise Dealer Management System (DMS) for automobile dealers nationwide, today announced the appointment of Brian Marshall as Chief Financial Officer (CFO). Marshall brings over a decade of experience as a strategic finance leader with a proven track record of successfully leading corporate strategy and development for high-growth companies.

Commenting on why he joined the DealerBuilt team, Marshall stated, “I saw the response from current DealerBuilt customers and how they view DealerBuilt as part of their family, fully integrated into their dealership. From my market research, I also saw a growing need and thirst from dealers for something new, better, and more innovative. In this advanced digital age, DMS technology for auto dealers should mirror the advancement of technology that is happening in all other aspects of their lives. DealerBuilt constantly invests in its product, R&D, and support. We are building something to last, not just get by. I am excited to be a part of that.”

Over the past decade, Marshall has excelled at helping companies grow by focusing on accounting and finance, corporate development, and financial planning and analysis. Before joining DealerBuilt, he worked as Vice President of Finance at NewQuest Crosswell, a commercial real estate investment company, where he led debt and equity raises for multiple financings. Before that, he founded Rising Covey Ventures, where he led the financial strategy and M&A activity for numerous organizations.

“Brian is an excellent addition to our DealerBuilt team as he has a strong track record of financial and strategic leadership with private equity-backed businesses. His background in bridging the gap between finance and operations to encourage efficient growth will be instrumental in helping DealerBuilt continue to drive sustainable long-term growth,” said Mike Trasatti, CEO, DealerBuilt/LightYear Dealer Technologies LLC.

DealerBuilt was formed in 2008 to bring to market an enterprise DMS providing automobile dealer and dealer groups a viable alternative to the traditional market offerings. Over the years, it has seen increased demand for its more modern, scalable platform with an emphasis on being customer-centric and a dealer advocate for new and innovative services in the DMS space. DealerBuilt now provides hundreds of dealers with a consumer experience DMS (known as ceDMS) that empowers their staff to build processes best for them, encompassing a system centered around their customers.

About DealerBuilt:

DealerBuilt is a premier provider of Dealer Management Systems for retail automobile dealerships. DealerBuilt's integrated LightYear DMS has proven to be an effective solution for the operation of successful Dealers and Dealership groups of all sizes nationwide. DealerBuilt, located in Mason City, IA, and Grapevine, TX, has enjoyed steady growth as automobile Dealers seek additional choices to manage their dealer operations. For more information about DealerBuilt, call or visit (888) 808-0733 / https://dealerbuilt.com/

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