Tag Archive | "software"

Innovative Lending Releases Loan Management Tool for F&I Offices

CHICAGO — Innovative Lending Solutions LLC announced the release of Stip Trac, an automotive loan management system designed to help dealers track cash flow, collecting necessary loan documents, or stips, and keeping an open communication line with car buyers before and after their purchase.

Stip Trac features a dashboard that allows users to track cash owed by a bank, set “contact-in-transit” limits, and track money in transit by salesman. It also provides status updates on any deal in transit, held at dealership, funded, etc. Users can also look up the age of a deal and missing stips, as well as add internal notes that can be viewed by all parties involved with the loan.

Stip Trac also allows dealers to add additional stips to a loan at any time, push welcome calls to the bank, and gain real references and referrals from customers. It also provides users with a “contact list” on their cell phone, and the ability to approve or deny stips as they are received.

The new tool also features a custom messaging so users can send an urgent message to the car buyer. It also offers automatic push notifications and a dealer-branded app that allow users to monitor a loan’s progress on their smartphones.

For the consumer, Stip Trac helps protect them from identity theft. It can also eliminate additional trips to the dealership to drop off loan-related documents, speeding up the finance process at the dealership.

“Stip Trac is a needed tool to improve the automotive loan process for car dealerships and consumers. Using Stip Trac removes a lot of the stress that today’s finance managers are facing today,” said Ed Maisonneuve, president and CEO of Innovative Lending Solutions LLC. “We truly built this so the delivery process is a smooth one. As a finance manager, I can’t tell you how many times a deal came into my office with missing documents, bad references, missing signatures. StipTrac 100% eliminates that.”

For more, visit www.StipTrac.com.

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Helion Names New Director of Marketing

TIMONIUM, Md. — Information technology (IT) services provider Helion Automotive Technologies today announced the recent addition of Tracey Reyes as its new director of marketing. She brings more than 20 years professional experience in marketing, advertising, events, branding and strategy to the position.

Reyes, whose career includes 10 years in the automotive industry, will oversee the development and implementation of strategies designed to increase awareness of Helion’s services.

“Tracey brings a wealth of marketing knowledge to this position and I’m excited to have her energy, expertise and guidance for achieving our vision for the future,” said Erik Nachbahr, founder and president of Helion Automotive Technologies.

Reyes previously served as a marketing director for Digital Air Strike and marketing manager for Dealertrack. She’s also served as director of marketing for Paypro Corp. and assistant marketing manager with First Data Merchant Services.

“Helion’s unique service offerings are one of the best kept secrets in the automotive industry, and I look forward to changing that narrative,” said Reyes. “The main challenge lies in educating auto dealers about how IT services should be viewed as an investment that can help them grow and reach their business objectives, versus an expense to be contained.”

Helion’s service offerings include end-to-end management of hardware infrastructure, software applications support, help desk support, data and cybersecurity solutions, communications and more. For more, visit www.heliontechnologies.com.

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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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Alpha Warranty Services Releases Claims Tracker

SALT LAKE CITY, Utah — Alpha Warranty Service Inc. (AWS) announced the release of Alpha Claims Tracker, a tool that allows customers, dealers, and agents to easily track their claims in real time.

By using the Alpha Claims Tracker, users can view which step of the process a claim is in, similar to how someone can track shipments online. The tool provides a detailed description of what is happening during that step so users are fully aware of what is being done to complete repairs on their vehicle.

“Our goal is to always find ways to improve the customer experience, especially when filing a claim. The claims process in this industry can be an overwhelming and stressful process for a customer. We’ve worked for years though to eliminate that frustration and the Alpha Claims Tracker takes the customer experience to a whole new level,” says Jeremy Lindsey, COO at Alpha Warranty Services.

“Being able to know the current status of your claim, who is responsible to move the claim forward, and what’s left in the claims process really minimizes the unknown when filing a claim. And the great thing is that our customers will have all this information at their fingertips without the need to pick up the phone.”

The tool offers a mobile-friendly user portal, along with the option to receive status updates by email and text message. It also provides a complete history of the claim and information on who is performing the next step to help reduce confusion.

If the user has any questions throughout the process, he or she can live chat with a customer service representative to have them answered, the company added.

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New Alliance Between AutoStar Solutions And KISS Concepts Group Brings Innovative Technology To Independent Dealerships Nationwide

FORT WORTH, Texas – Dealership software provider AutoStar Solutions has announced a new strategic alliance with consulting agency, KISS Concepts Group, to represent the AutoStar Fusion Ignite dealer management system (DMS) to independent dealerships throughout the United States.

As part of this new collaboration, independent agents and agencies that are members of KISS Concepts Group (an acronym for Keep It Simple Successfully) will act as outside sales representatives, introducing independent dealerships throughout the United States to the Fusion Ignite DMS platform.

“We’re very proud to be working with such a well-known and highly respected organization in our industry like AutoStar,” said KISS Concepts Group President and Chief Relationships Officer, Rod Heasley. “As one of the most recognized leaders of enterprise-level dealership technology, this new alliance represents a huge opportunity for KISS Concepts Group agents to enhance established relationships and provide their dealership clients with the tools needed to grow and prosper.”

“We’ve enjoyed a long and successful relationship with Rod and we’re looking forward to joining him in this latest venture,” said Antonio Rajan, Chief Revenue Officer of AutoStar Solutions. “Having our products represented by some of the most respected and reliable independent agents in the US will be instrumental in bringing our solutions to the marketplace and helping us achieve a new level of brand recognition as well as market penetration.”

The web-based Fusion Ignite DMS provides the fundamental elements needed to manage a Buy Here Pay Here, wholesale, or cash based dealership operation. Features of the system include the ability to set up and optimize deals, manage inventory, print compliant forms, make automatic calculations, take payments, and more.

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