Tag Archive | "DMS"

F&I Express® Announces Strategic Partnership With Frazer Software


Grapevine, Texas – F&I Express, an award-winning leader of digital solutions for automotive dealerships, announced today a strategic partnership with Frazer Software, a popular dealer management software (DMS) for independent used car dealerships. The integration of F&I Express with Frazer Software provides more than 16,000 independent dealerships with the ability to digitally rate and eContract, capturing electronic signatures, and submit contracts for over 130 F&I aftermarket product providers all within the Frazer platform.

Since 1985, Frazer has provided high-quality automotive software to independent used-car dealerships across the United States. The incorporation of F&I Express eContracting within Frazer Software allows for an even more streamlined process for dealers. Independent dealers using Frazer Software are able to digitally send the customer’s deal information directly over to F&I Express to complete the contract. They are ensured of 100% accuracy and error-free contracts quickly, sending the contract digitally to the customer for signatures. Once signed, the digital contract can be easily tracked and submitted.

“Our primary mission at F&I Express is to provide automotive dealerships with digital solutions to make the F&I process easier, faster, and 100% error-free,” said Brian Reed, President and CEO of F&I Express. “The integration with Frazer allows us to serve a wider range of dealers and provides them with new functionality that streamlines the total process. Dealers who use eContracting with Frazer DMS integration will find the process to be error-free and even more efficient.”

By entering just the VIN and mileage, the F&I Express platform automatically displays the plans available and calculates the contract price. The chance of human error is diminished, and the need for dealers to look through pricing information is removed. Customer satisfaction increases with a faster, error-free process which saves time at the dealership. Additionally, Frazer Software customers now have access to over 120 providers through the connection with F&I Express, an exceptional increase over their current network.

“We are very excited for our dealer customers” said Michael Frazer, President of Frazer Software. “The Frazer DMS will now be instantly integrated with an additional 130 companies”

The integration between F&I Express and Frazer Software significantly improves the process for independent dealers. A complete digital platform, independent dealers now have more options than ever to serve their customers.

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F&I Is Not About Menus


Everyone in our industry has their own vision of what our new, hyperconnected world, tomorrow’s vehicles and the F&I department of the future might look like. It seems every manufacturer, DMS provider and F&I menu software company has their own high-tech version of what the sales and F&I process needs to become. In this geekoid future of Snapchats, Instagrams, and Tweets, we’ll discover a glorious new world filled with cars that drive themselves and products that sell themselves, which are then delivered right to our doorstep via Amazon drones.

The ultimate fiction of this shiny new techie-world of virtual reality goggles, wall-size touchscreens and chat-bots is that somehow computers and menu software will soon be able to discover and fill customer needs, create customer interest, overcome objections and entice people to buy more stuff. And they’ll be able to pay for it all with digital money that rains down from a virtual cloud. Yeehaw!

Now I certainly don’t profess to know what the future holds. However, I do know that, while technology, computers and software can do a lot, there’s one thing they can’t do and won’t ever be able to do: care. Only a human being can care about another human being.

The Easy Button

Dealers, F&I managers and agents (and F&I trainers!) are always looking for an “easy” button — that new product, word-track or “close” that will magically get customers to buy F&I products with little or no effort. Whether it’s menu-selling software, a new closing technique or a video product pitch using a spokesmodel, hope springs eternal that someone has found a quick, easy and foolproof way for an F&I manager to sell more F&I products and make more money in less time with less work.

The latest easy buttons are the high-tech electronic F&I menus that have more bells and whistles than a $35,000 Tesla. The only difference being they’re actually available, and you don’t have to stand in line to buy ‘em. Some of these menu software companies now offer desktop or large tablet touchscreens or their menu on an iPad. Some even include computer-generated graphics and video product presentations. Most allow the customer or F&I manager to easily move products around to see how adding or removing them will change their payment.

Some of these menu software programs are truly impressive. They have the ability to combine previous purchase information and new customer data to determine which products they’re most likely to buy. These menu software programs mine the dealership’s own data to see what F&I products the customer bought last time, as well as the odds the customer will purchase a specific F&I product this time.

Even I have to admit this is a huge improvement. In prehistoric times, we actually had to get off our butts and walk down to the accounting office and pull the customer file out of the file cabinet to see what F&I products they bought for their last vehicle.

Many of these software programs include self-serving “customer surveys” that are designed to eliminate the needs discovery process. I put the term in quotes because these brief surveys include a few questions designed to replace the antiquated idea of having an actual conversation with a customer. Most software designers aren’t too keen on human conversation, so the assumption is that most consumers would prefer little or no conversation.

Once the customer completes the survey, the F&I software operator knows which products they should offer the customer. Apparently, knowing the answer to only six or eight questions allows a computer to know all of the products a customer is likely to buy. Here’s what the computer says you need, here’s what it covers and here’s your new payment. Now talk yourself into it.

All of these menu software programs can structure the deal and create a menu designed to ensure maximum profit. And all are promoted as a surefire way to increase F&I product sales and profits. On the surface, they are certainly pretty slick. And this futuristic dream of software that sells F&I products continues to be updated, upgraded and improved upon every year in an effort to move us all toward what they really desire, which is to get agents and dealers to buy their software.

But is a high-tech menu on a big screen what the customer wants?

Do you really believe most human beings desire less human interaction and more preprogrammed, premeditated, computer-generated digital sales presentations based on odds, algorithms and logic traps? Do you really think self-serving software created specifically to benefit the user, not the customer, is the way anyone wants to buy anything? No one who has ever been trapped in an automated phone system loop, those automated torture devices that misunderstand what you say or require an endless series of button pushes to complete even a simple task, wants to envision a future with more of that.

That’s not progress. That’s hell on earth!

Putting Technology in Its Place

We have cameras in hundreds of F&I offices and record thousands of F&I transactions every month, and I have yet to hear a customer request a better menu, complain because the options were offered on a paper menu or demand to see a touchscreen version. In reality, most customers couldn’t care less how F&I products are offered. While one generation may prefer viewing a menu on a computer screen to a paper version, they certainly aren’t going to buy any F&I products because of a pretty menu.

All a customer wants to do is get their paperwork completed as quickly as possible so they can take delivery of their new vehicle. The fact is, most customers do not walk into an F&I office wanting to buy additional products. Nor do they want to be forced to wait while an F&I manager creates a custom menu with those products. If customers are being forced to wait while a menu is being prepared, we’re wasting their time. Can you imagine a restaurant forcing every customer to wait while a custom menu is created just for them? That restaurant wouldn’t last a month.

What a customer is really buying is the F&I person presenting those products. Customers appreciate having someone take time to review the options, answer their questions and help them make an informed decision. They resent having to listen to a sales pitch. It doesn’t matter whether that sales pitch is made using a brochure, a paper menu or a 60-inch flat-screen monitor. It’s still a sales pitch.

Every customer asks themselves this question: “Is this person trying help me, or is this person trying to sell me?” How they answer that question in their own mind will determine whether or not we’re able to sell them. If they think that F&I person is trying to help them, they’re going to be very interested in what they have to say. If they think that F&I person is trying to sell them, they couldn’t care less what that person has to say.

Helping customers demands that an F&I professional seek out, with eagerness, reasons why the customer needs each and every one of their products, and helping them see how that product will benefit them. If a customer trusts that person, believes they know what they’re talking about, and feels like they’re genuinely trying to help them, they will value that individual’s knowledge, expertise and input. It doesn’t matter whether those products were offered on a high-tech menu or a bar napkin.

F&I is not about menus. It’s about helping customers make an informed decision about the options available in connection with their purchase. Customers don’t buy F&I products because they understand every nuance of the coverage. They buy them because they feel someone understands their unique situation and is trying to help them make the right decision for them and their family — in other words, an F&I professional.

In the F&I office, we have a responsibility to offer every customer every product every time. You don’t need a custom menu to do that. We don’t need F&I software operators spending more time customizing menus. We need F&I Professionals who are genuinely interested in helping customers, and care about people. Because customers don’t care how much you know, until they know how much you care. And no menu can do that.

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Advent Resources Inc. Announces Next Generation DMS for Hyundai Dealerships


SAN PEDRO, Cali. – Advent Resources Inc., the leading automotive software provider, announced today the completion of the Hyundai Dealer Communications project with Oxlo Systems, the DCS certification agent for Hyundai USA. Advent customers will have an enhanced DMS with a full complement of data interfaces to enable bi-directional communication between Hyundai retailers and Hyundai USA.

“We are excited to deliver this new functionality which further propels the next generation Advent Dealer Management System,” said Tim Gill, CEO of Advent Resources Inc. The web based DMS can order and return parts, process warranties, submit financial statements, and process retail delivery reports for all Hyundai Franchise dealerships.

“As an industry, it is imperative that new players come to market that can support the franchise dealer marketplace for DMS functions,” continued Gill. “This takes us another step further as one of very few viable options for dealers who are uncomfortable with how they are being served by the legacy providers.”

The completion of the Advent next generation DMS will drive the direct connectivity between franchise automotive dealerships and Hyundai USA; providing Advent customers with innovative software that has a common interface, which will maximize the Hyundai dealerships’ productivity and profitability.

 

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Superior Integrated Solutions Now Largest Integrator for Dealertrack’s Opentrack


ISELIN, N.J. — Superior Integrated Solutions (SIS), an integration provider for auto dealerships, announced that it is the largest integrator for the Dealertrack Technologies Opentrack platform, with more than 1 million real-time transactions a day, reports F&I and Showroom.

Opentrack allows dealers to choose from more than 100 best-in-class solution providers to help streamline operations, reduce data entry errors and increase productivity. It offers secure, seamless integration, all through the flexibility of an open platform. Superior Integrated Solutions is certified or approved to provide integration services for 14 DMS providers. It also serves as an integration service provider for multiple OEMS, CRM companies, F&I product providers, F&I menus, vehicle appraisal tools, DMV technology providers and much more.

“Over 30 million tractions a month is by far the most data being moved via the Opentrack platform by any one company,” said Phillip Battista, CEO for Superior Integrated Solutions. “We can take on this incredible volume because of our unique ability to handle real-time data integration. SIS is seeing companies ‘outgrow’ their current integration plan. As they look at making their solutions more functional and move from batch-type integration to real-time, on-demand data access, we are one of the very few, if not the only, integration company that can make that happen, and make it happen for 14 different DMS’s.”

SIS goes to great lengths to ensure data security and stability and provide peace-of-mind to its dealers, officials said. The company has more than $1 million invested in state-of-the-art technology residing in its Tier III fully hosted facility. SSAE16 certified compliance, paired with 2N redundancy and a 100 percent uptime guarantee, provide superior security and stability.

“In fact, SIS is so confident in the security of its solution that it’s backed by a $3 million guarantee in the event of data breech. The company is also bonded up to $5 million,” read the company’s press release.

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Auto/Mate’s DMS Integrates With Ristken’s Enterprise Solutions


ALBANY — Auto/Mate Dealership Systems announced that Ristken Software Services has integrated its core enterprise technology solutions for auto retailers with Auto/Mate’s dealership management system, reports F&I and Showroom.

Ristken’s MenuPro and Pro Tracking platforms as well as its eBusiness Service Provider Access Network are now accessible for dealerships using Auto/Mate’s DMS. These applications and services include menu selling, finance and sales reporting, and eBusiness solutions that allow dealerships to conduct core business tasks electronically.

With both systems integrated, all data entered into the Ristken platforms is updated instantly and securely to Auto/Mate’s DMS. Any changes made to the DMS will also be reflected in Ristken’s solutions in real time.

“Having our technology integrated with Auto/Mate’s DMS is beneficial to our customers on both systems,” said Patrick DeMarco, president of Ristken. “The seamless exchange of data increases productivity and improves the user experience.”

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Autosoft, Inc. Certifies MaximTrak F&I Platform for Integration with FLEX DMS


WEST MIDDLESEX, Pa. – Autosoft, Inc., a leading national dealer management systems (DMS) provider, announces that the MaximTrak Technologies’ F&I suite has completed the certification process for integration with FLEX DMS as part of Autosoft’s FLEX Connect program.

The MaximTrak F&I suite helps dealers transform the vehicle delivery process into a more customer-friendly experience that drives greater profitability. This integration certification means that over 2,000 dealers using Autosoft to manage their dealerships can now benefit from the power and innovation of MaximTrak.

The many F&I process efficiencies MaximTrak delivers contribute to improved aftermarket products’ penetration and higher per-vehicle retail revenue. These leading digital technologies help F&I staff build rapport with customers by engaging them with customer-centric videos, visual sales presentations, interactive surveys, and more. These services also help build the value of the dealership and its F&I products by improving F&I performance.

The MaximTrak F&I suite includes:

  • MENUTRAK: Simplifies process flow, speeds up the deal, appeals to the consumer and makes more money for the dealership. In dealership studies, deals done using MenuTrak out performed non-menu deals by $538 per vehicle sold and almost doubled vehicle service contract penetration rates.
  • DASHBOARDS: Give F&I managers and their dealers quick-view reporting so they can make quick, easy and informed decisions. Meets the demand of even the most analytical CFOs.
  • E-TRAK: Streamline the administration and sales processes with access to electronic forms, digital signature capture, e-rating, and digital remittance.
  • FLITE: Speed transaction processes while delivering the complete F&I story through touch, tablet, and tablet-to-TV technology.

“MaximTrak is excited about this partnership with Autosoft,” said Jim Maxim, Jr., president and CEO of MaximTrak. “We’re bringing unique digital F&I tools to dealers using the Autosoft DMS, enabling them to deliver thorough, compliant, and transparent F&I experiences to their customers while helping boost F&I profits for their dealerships.”

Christopher Morris, Senior Vice President of Business Development for Autosoft added, “MaximTrak is an F&I industry leader. We are delighted to have them as a participant in our FLEX Connect program, giving Autosoft customers a broader choice of integrated solutions that help them manage their business.”

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