|By Business Wire||
|January 24, 2014 11:48 PM EST||
Dealertrack Technologies (Nasdaq:TRAK) today introduced Dealertrack Inventory+, a new integrated inventory solution that combines the best of Dealertrack’s data driven inventory management offerings with powerful new mobile and workflow accelerating innovations.
Dealertrack Inventory+ is enriched with advanced 360° data insight and mobile capabilities. It transforms vehicle and market information into increased trades, optimized turn rates and increased profit-per-day. Delivering robust tools and analytics, Inventory+ covers dealers across the entire lifecycle of the vehicle inventory process, including:
- Stocking and Sourcing
- Group Solutions
“For several years, Dealertrack has delivered the most complete and comprehensive transactional, listing and market information for used vehicles, as well as the latest mobile innovations, in the industry,” said Robert Granados, vice president and general manager, Inventory and Interactive Solutions, Dealertrack. “Now, Inventory+ brings all of our award-winning capabilities together, along with new innovations, to help drive optimal and measureable results for our dealer and dealer group clients.”
Inventory+: The Combination of Innovative Workflow and Powerful Analytics
Dealertrack delivers new, improved and powerful workflows and analytics with Inventory+. For example, the cornerstone of the Inventory+ solution is the new Appraisal Workflow functionality. The Appraisal Workflow tool expedites the appraisal process by creating a uniformed and totally integrated workflow process for dealers.
Using a simplified, user-friendly five-step process, Appraisal Workflow allows dealers to easily capture and input all key information, and manage information, photographs, condition, book-out data and values of vehicles in their inventory. Typically, when it comes to inventory management and reporting, dealers focus on either profits or turns. Inventory+ allows dealers to focus on both profits and turns for positive results. With Dealertrack Inventory+, dealers can create a simple and powerful metric – Profits-Per-DayTM (PPD) – that can help them better manage both turn and gross profits.
“Our profit-per-day metric, which is the single most important measurement of total profitability, will allow dealers to keep a better pulse on the health of their businesses, while keeping their dealership stocked with the right mix of vehicles best suited for their marketplace,” said Granados.
Dealertrack will be showcasing its comprehensive set of automotive retail solutions for dealers, lenders and OEMs, including Dealertrack Inventory+, throughout NADA at Booth #2811 in New Orleans.
About Dealertrack Technologies (www.dealertrack.com)
Dealertrack Technologies’ intuitive and high-value web-based software solutions and services enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. In addition to the industry’s largest online credit application network, connecting more than 20,000 dealers with more than 1,400 lenders, Dealertrack Technologies delivers the industry’s most comprehensive solution set for automotive retailers, including Dealer Management System (DMS), Inventory, Sales and F&I, Interactive and Registration and Titling solutions.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of Dealertrack solutions, including Inventory+, any conclusions or statements based thereon, and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of Dealertrack Technologies to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include the performance and acceptance of Dealertrack’s solutions, including Inventory+, the performance of Dealertrack’s third-party partners, and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ending December 31, 2012 and our Quarterly Reports on Form 10-Q. These filings can be found on Dealertrack Technologies’ website at www.dealertrack.com and the SEC's website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and Dealertrack Technologies disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.