Tag Archive | "Dealer Software"

AutoLoop Achieves Reynolds Vendor Certification

CLEARWATER, Fla. — Automotive marketing solutions provider AutoLoop announced it has completed the Reynolds Certified Interface (RCI) program for the Reynolds and Reynolds POWER Dealer Management System (DMS). This new certification allows data to be exchanged safely and securely from a POWER DMS to AutoLoop’s next-generation software.

“We’re thrilled to be a designated RCI partner,” said Matt Rodeghero, AutoLoop Chief Product Officer. “Data drives everything we do, and this certification helps ensure that we can securely access the information needed to deliver the best user experience — for both dealers and their customers.”

AutoLoop offers dealers a comprehensive marketing and engagement solution through the AutoLoop Customer Engagement Suite, and the new Reynolds and Reynolds certification further enhances its offering.

“By synchronizing the AutoLoop platform and Reynolds and Reynolds products, we’re able to offer real-time access and updates for customers who use products from each organization,” Rodeghero said. “It’s a big win for everyone.”

AutoLoop is also certified as an RCI partner for the Reynolds and Reynolds ERA DMS.

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DRIVIN Launches Marketplace Platform

CHICAGO — This week, DRIVIN, a data-driven service that helps dealers sell, source, acquire, and deliver used vehicles, announced the launch of the DRIVIN Marketplace.

Through this marketplace, dealers can list and remarket unwanted invenstory at wholesale prices to their established network of dealers. The service will then match and recommend the listed inventory to more than 1,000 open vehicle searches from dealers across the country, according to the company.

Payments, paperwork and transportation of the vehicle to the buying dealer will all be handled by DRIVIN, the company added.

“Our Marketplace is a smart addition to the DRIVIN experience,” said John Manganaro, vice president of product and analytics. “Our goal is to help dealer partners confidently sell, search and buy the right inventory to build their optimal lot in one seamless platform. This is an unprecedented opportunity to bring data science and innovation to an antiquated process, and help dealers increase profitability across the lot.”

DRIVIN is able to do this, the company noted, by pre-loading a dealer’s inventory into its marketplace. Since the vehicles are preloaded, all a dealer needs to do is select the units to sell, answer a few condition questions and provide a wholesale price.

“We are excited to bring Marketplace to our dealer partners,” said Lisa Killeen, vice president of Marketplace. “Feedback from our exclusive pilot group was extremely positive, and we are confident the platform will allow us to strengthen current partnerships and provide the opportunity for us to grow our dealer base.

“DRIVIN Marketplace is the next step of the evolution — helping dealers sell the inventory that isn’t resonating with their target shopper and replace it with units that better fit their needs.”

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Reynolds Acquires Wolters Kluwer’s Indirect Loan Origination Solutions

MINNEAPOLIS — Reynolds and Reynolds Co. completed this week its acquisition of Wolters Kluwer’s indirect loan origination solutions for €32 million — around $36 million — in cash. As part of the acquisition, Reynolds adds Wolters Kluwer’s AppOne software, risk mitigation services and bankers systems.

Reynolds also gains Wolters Kluwer’s line of preprinted and electronic sales and lease forms, which are similar to Reynolds’ LAW brand product line, a company spokesman said. Wolters Kluwer first announced it had signed an agreement to divest its indirect loan originations solutions to Reynolds on Sept. 8.

“We see this step as another strategic investment in Reynolds Document Services and in the capacity we have to serve automotive retailers and lenders with a breadth of documents and compliance services,” said Thomas Schwartz, director of corporate communications for the software maker. “Overall, the new businesses complement our existing expertise and strengths in documents and compliance services. At the same time, it expands the customer set and markets we can serve.

By acquiring Wolters Kluwer’s AppOne software, Reynolds and Reynolds is gaining a loan origination platform that connects dealers to finance sources. According to the company, the software allows lenders to create federal and state compliant loan packages that meet their specific needs and requirements.

The software then allows finance sources to share these packages with AppOne’s network of more than 2,000 dealers. Dealers are then able to transfer required information directly from their dealer management systems to AppOne, and submit loan packages directly to the finance source, according to the company. Wolters Kluwer is also providing add-on services designed to help finance sources manage their underwriting processes with approved dealerships.

“As a leader in automotive dealership solutions, Reynolds and Reynolds is well-positioned to continue to support the unique needs of indirect loan origination customers,” said Richard Flynn, CEO of Wolters Kluwer’s GRC division. “Wolters Kluwer will continue to invest in our core regulatory compliance business, which serves thousands of banks, credit unions, and mortgage lenders globally.”

In its September announcement, Wolters Kluwer stated that selling its indirect loan origination solutions was in line with the company’s strategy to focus its financial service group business on growing its compliance content and solutions for banks and other global financial institutions.

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Tom Hudson Joins Dealer Summit Roster

TAMPA, Fla. — Prominent consumer finance attorney Thomas B. Hudson has agreed to speak at the upcoming Dealer Summit, organizers said Wednesday. The event will take place May 3–5, 2016, at the Sheraton Riverwalk Tampa Hotel. Hudson’s session, “Subprime and BHPH Dealers: How Regulators Have Changed Your Business Model,” will begin at 2 p.m. on Wednesday, May 4.

“Tom Hudson is universally admired as a dealer advocate and unwavering voice of reason,” said Greg Goebel, president of DealerStrong. “We couldn’t have asked for a better speaker to tackle this important topic.”

Hudson is a partner in the Washington, D.C., office of Hudson Cook LLP and one of the automotive industry’s foremost legal minds. He a frequent speaker and prolific writer, authoring a number of legal guides and publications and serving as a regular contributor to Auto Dealer Today and F&I and Showroom magazines.

Hudson is expected to analyze recent enforcement actions by federal regulators and their effect on automotive finance, including special finance and the buy-here, pay-here (BHPH) segment. Dealers must be willing to adapt to a “new business landscape” and change their business models, he warned, or face legal action that could cost them their livelihoods.

“There are two kinds of dealers in the world — those who know that the regulatory ground has shifted beneath them and those who don’t,” Hudson said. “Dealers need to understand and conform to the new rules or get out of the business before the regulators force them out.”

Registration for Dealer Summit is open at the event’s website. Dealers who register by April 1 will enjoy a $100 early-bird discount. They will also have access to several pre-show activities, including F&I Think Tank and Jim Ziegler’s Profit Masters.

For information about exhibition and sponsorship opportunities, contact show chair David Gesualdo via email hidden; JavaScript is required or at 727-947-4027.

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