Tag Archive | "DealerTrack"

Dealertrack Adds New Connected Solutions to Product Lineup

LAKE SUCCESS, N.Y. — At the 2015 National Automotive Dealers Association (NADA 2015) Convention & Exposition in San Francisco last week, Dealertrack showcased its latest connected technologies and services that are driving today’s online to in-store convergence in automotive retailing.

“2015 is going to be an exciting year for the automotive retail industry,” said Raj Sundaram, co-president of Dealertrack, prior to the convention. “We know from our data and our experience in working with clients that there is a growing demand from consumers to take time and complexity out of the car buying process. At NADA, we will show dealers how our connected solutions can create a better overall car buying experience for customers and help drive profits, by adding clarity and simplicity to what was previously a time-consuming and stressful process for shoppers.”

The company showcased a number of mobile, digital retailing, digital marketing, F&I, inventory, and dealer management solutions that demonstrated how the online and in-store processes and experiences converge. The new solutions featured at NADA included:

  • Mobile eContract Review and Signing: Dealertrack has introduced eContracting mobile review and sign functionality for iPad and Android tablets. With this new capability, eContracting has truly gone mobile, removing the need for tethered signature pads or use of expensive installed display pads that confine dealers and their buyers to the F&I office, officials said. The ability to review and sign documents on an iPad or Android-based tablet helps to significantly streamline the contracting process and improve the overall customer experience. The use of eContracting within the dealer and lender communities continues to grow. Dealertrack has processed more than three million eContracts, and the company expects the number of lenders adopting and launching Dealertrack eContracting to increase in 2015.
  • Digital Retailing App: Over the past several years, digital retailing tools have helped many dealers achieve milestone closing ratios for website leads compared to third-party leads and standard website leads. At NADA, Dealertrack introduced a new tool that leverages the power of digital retailing right from an iPad in the showroom. The new Digital Retailing App will help create a faster and more efficient sales process with customers, by giving dealers direct mobile access to website leads, inventory and finance data, and the ability for consumers to submit credit applications directly from the showroom floor.
  • F&I Presentation on Websites: With ProtectionDriver, the latest innovation in Dealertrack’s line of Digital Retailing offerings, dealers will empower shoppers to explore F&I options on their website during the early stages of the shopping process. Having access to F&I product information on the website will help consumers better understand how they can protect their vehicle, all while helping to save time in the showroom. As with the complete Dealertrack Digital Retailing solution, the ProtectionDriver settings are controlled by the dealer to maximize product penetration and deal profitability.
  • Service Check-In App: The days of checking in customers on the service drive and handling a multi-point inspection with a pencil and paper are gone. Dealertrack is launching new functionality that will allow dealers to gain increased day-to-day efficiencies through the use of a new Service Check-in App. Service Check-in enables advisors to check in customers at their vehicle, review and recover previously declined services, and consistently capture more upsell opportunities in the service department. Along with this new Fixed Operations product offering, Dealertrack has rebranded Dealertrack ASR Pro as Dealertrack Service Pro. The new name helps to unify the product line as the company continues to expand on this platform. The new Service Check-In App will work on any current generation iPad, and fully integrates with Dealertrack Service Pro. It will be available to Dealertrack DMS clients immediately, and other DMS providers coming soon.

All the new functionality shown at NADA will be available to dealers in the first half of 2015.

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Spiffit Announces Certified Integration With Dealertrack

DENVER — Spiffit, a SaaS provider of automotive retail sales incentive management dashboards, announced this week that Dealertrack Technologies has certified the integration of its application with the software provider’s dealer management system (DMS).

The new incentive interface, approved via Dealertrack’s Opentrack Certification Program, will give Dealertrack’s users the ability to efficiently manage and operate Spiffs directly from their Dealertrack DMS.

“This integration gives Dealertrack DMS users the opportunity to easily implement and manage Spiff programs,” stated Sean Ugrin, CEO and founder of Spiffit. “Forward thinking and innovative Dealertrack dealership customers using Spiffit’s sales performance application dashboards can expect see increased sales and improved management of incentive programs.

Sharon Kitzman, vice president and general manager of DealerTrack DMS, added: “Dealertrack’s DMS Opentrack Certification Program allows dealers to securely integrate their Dealertrack DMS with certified third-party providers and software like Spiffit. In addition to Spiffit, there are more than 70 certified Opentrack partners.”

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Dealertrack to Acquire DMS Provider incadea plc

LAKE SUCCESS, N.Y. — Dealertrack Technologies has announced a cash offer to acquire incadea plc, a provider of DMS software.

Under the terms of the transaction, Dealertrack will make a cash offer for the entire issued and to be issued share capital of incadea. The Board of incadea has unanimously recommended that the shareholders accept the Dealertrack offer.

incadea shareholders who accept the offer will be entitled to receive 190 pence cash for each incadea share held. The expected total consideration to be paid to acquire all shares of incadea will be approximately £121.6 million or $190.3 million. Dealertrack expects to finance the transaction through cash on hand and in cash already drawn down from its existing credit facility.

Dealertrack has received irrevocable undertakings from incadea shareholders holding approximately 56% of the outstanding incadea shares to accept the recommended cash offer. The transaction is subject to a number of conditions as set forth in the announcement released today in accordance with Rule 2.7 of the UK Takeover Code. The deal is expected to close in the first quarter of 2015.

The acquisition of incadea will significantly enhance the total addressable market for Dealertrack, officials said. incadea has significant momentum in capturing new DMS agreements and its range of customers include BMW, Toyota, Volkswagen, Peugeot/Citroën, Ford, Bosch, Scania and Mercedes-Benz. The company’s product suite is based on Microsoft, with whom it has a long-term strategic relationship. incadea’s network of worldwide certified channel partners serves a growing community of more than 75,000 worldwide end users in nearly 3,500 dealerships across more than 85 geographical markets.

“Dealertrack has been a leader in delivering software solutions to the automotive retail market in the U.S. and Canada, helping to transform the online car shopping and in-store experience for both the dealer and consumer,” said Mark O’Neil, chairman and chief executive officer, Dealertrack. “The addition of incadea advances our international growth strategy and helps strengthen our competitive offering to global manufacturers. We look forward to partnering with manufacturers and dealers around the globe to help them achieve their goals of delivering a better automotive retailing experience in high-growth markets.”

incadea’s chief executive officer Patrick Katenkamp will continue to lead the business for Dealertrack post-closing. He brings more than 16 years of experience in the automotive sector, strategy development and implementation of global projects in large organizations.

“We are very excited to be joining Dealertrack and believe this transaction will enable customers worldwide to achieve high performance through a broadened solutions portfolio,” said Katenkamp. “Through our combined geographical presence, we are well positioned to lead the market in both competitive offerings and reach. Furthermore, we are confident that our employees will have greater opportunities for further development; our team has a great deal of excitement about the mission ahead.”

In connection with the transaction, Evercore acted as financial advisor and O’Melveny & Myers LLP provided legal advice to Dealertrack. Sonenshine Partners LLC & Cenkos Securities PLC acted as financial advisors and Stephenson Harwood LLP & Heuking Kühn Lüer Wojtek provided legal advice to incadea.

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Dealertrack CRM Receives Reynolds Certification

LAKE SUCCESS, N.Y. — Dealertrack Technologies has received certification from Reynolds and Reynolds for its CRM. The certification is part of the Reynolds Certified Interface (RCI) Program and applies to the ERA dealership management system (DMS).

The RCI Program provides a standardized approach to handling dealership data from a Reynolds DMS in a safe, secure and verifiable manner, improving the security and supportability of interfaces for both dealerships and third-party vendors. In addition to this new interface, Dealertrack has certified interfaces between Reynolds’ ERA DMS and Dealertrack’s Credit Application Network, as well as its inventory management, eMenu, SalesMaker, DealTransfer and econtracting solutions.

“Dealertrack is committed to supporting dealers’ technology needs by enabling secure, real-time and seamless integration between systems running in a dealership and Dealertrack systems and solutions,” said Robert Granados, senior vice president and general manager of Inventory and CRM Solutions for Dealertrack. “With this new certification, dealers can confidently and easily exchange information between our CRM and the Reynolds and Reynolds ERA DMS.”

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Dealertrack Expands Inventory Management Solution

Lake Success, NY — To help dealers win more used-car trade-ins and further grow their volume and profits through better inventory management and customer engagement, Dealertrack Technologies has introduced an all-new Inventory+ vehicle trade-in quote module and a fully-integrated transportation tool.

Dealertrack Inventory+ is an inventory management solution that delivers 360 degrees of data insight and analytics with mobile and workflow capabilities for dealers, according to officials. The all-new solution also features two new tools: Inventory+ TradeDriver and Inventory+ Transportation Services.

Inventory+ TradeDriver is a trade-in quote service integrated within Inventory+ and a dealer’s website. It is designed to present buyers with consistent trade-in offers, helping dealers convert more leads to sales. Inventory+ Transportation Services is a vehicle transportation network integrated within the inventory management system. It’s designed to offer dealers more choices than ever for their transport needs.

“We are committed to delivering integrated workflow solutions that help dealers drive efficiencies and transform their businesses,” said Robert Granados, senior vice president of Dealertrack’s Inventory Solutions and CRM Operations. “With the new intelligent vehicle trade-in tool and the industry’s first integrated vehicle transportation network, Inventory+ becomes an even more advanced and powerful solution for today’s progressive dealers. These enhancements will help better position dealers for generating more leads and improving customer experience, while winning more deals.”

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Acquisitions Drive 46% Revenue Increase for Dealertrack

LAKE SUCCESS, N.Y. — Dealertrack reported strong financial results in the opening quarter of 2014, a period in which the tech company completed its purchase of Dealer.com.

The purchase of the digital marketing solutions provider was completed on March 1. Dealertrack officials told investors that the firm is now posed to accelerate its growth in the digital retailing space, with the company’s chief executive Mark O’Neil noting that dealers “are increasingly engaging with us in dialogue regarding the purchase of our full suite of solutions instead of individual point products,” according to a transcript of the call on seekingalpha.com.

Although the quarter only included one month of Dealer.com revenue, Dealertrack reported an increase in average monthly subscription revenue — up 30% from the year-ago period to $956 per month — per dealer.

“For comparison purposes, in March of this year, the first full month that included Dealer.com’s results, we averaged $1,191 per subscribing dealer for that month alone,” O’Neil said. “We added 5,160 subscribing dealers in the quarter, including dealers acquired through Dealer.com who are not already in Dealertrack’s subscription dealer count to reach a total of over 23,000 subscribing dealers as of the end of the first quarter.”

The acquisition also brought added CRM capabilities, which Dealertrack plans to combine with its other CRM offerings to create a single solution. “We are very excited about the longer-term opportunity to enhance our CRM solution by providing dealers with predictive data analytics from our online and in-store solutions to enhance the vehicle sales and customer interaction process,” O’Neil said.

“In March, we had over 60 million visitors to the combined websites we manage, putting us in a unique and strong position to leverage this data to materially improve the auto shopping and purchase process,” he added. “With Dealer.com’s websites, we’re also seeing increased interest in our digital retailing solutions, due in part to these solutions providing an optimized link between our online and in-store solutions.”

In the opening quarter of 2014, Dealertrack recorded revenue of $158.8 million, a 46% increase from a year ago. Acquisitions dating back to the first quarter 2013, includes the Dealer.com purchase, contributed approximately $35 million to the total.

Eric D. Jacobs, Dealertrack’s CFO and executive vice president, noted that GAAP net loss was $12 million or a net loss per diluted share of a negative $0.25, due in part to the Dealer.com acquisition.

“… we are combining our existing CRM solution with Dealer.com’s CRM solution. This, along with the overlap of ClickMotive and Dealer.com’s website solutions, resulted in the impairment of certain assets in the first quarter, an amount of $7.5 million, net of taxes, or a loss of $0.16 per share,” Jacobs said.

For all of 2014, Dealertrack officials said they expect revenue to be between $814 million and $826 million. “… with an excellent start to 2014 and the completion of the acquisition of Dealer.com, we are excited about our achievements in the quarter and believe we are well positioned to deliver strong results through 2014,” Jacobs concluded.

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