KPMG and TSI Auto Solutions announced Wednesday a new commercial partnership to launch business management software for Australian and New Zealand automotive manufacturers and dealer groups.
As partners, according to the two companies, their plans are to come together to deliver both financial and non-financial performance solutions centered on key dealer performance metrics, business plan forecasting and contact solutions for KPMG clients.
“This relationship with KPMG represents a powerful opportunity for TSI Auto Solutions to significantly expand our presence in Australia and New Zealand, a vibrant and very important market, and extend further to China over time. TSI Auto Solutions president and chief executive officer Jane Ravenshaw said in a news release.
“KPMG has clearly demonstrated its ability to apply its considerable resources and expertise to lead major markets," she added.
TSI Auto Solutions has been a business intelligence solutions provider to the Canadian automotive industry for nearly 17 years.
In March, TSI Auto Solutions and KPMG will demo their solution for dealer groups and OEMs at the National Automobile Dealers Association Show in Las Vegas.
“The KPMG Australia team is excited about teaming up with TSI Auto Solutions,” said Steve Bragg, KPMG Australia director of motor industry services. “Working with TSI, will help us deliver on our growth strategy by equipping KPMG with the optimal business management software to serve the Australian and New Zealand automotive markets.”
Auto Market Direct announced Thursday the launch of its used-car marketplace mobile application that is now available in beta to U.S. consumers and dealers.
Via the used-car marketplace, sellers can post, and buyers can search, bid and buy all from their mobile device, tablet or desktop.
The app features a wide mix of trucks, SUVs, sedans, minivans, coupes and convertibles by popular brands, according to Auto Market Direct.
“Our mission was to create an efficient and effective used-car marketplace where sellers and buyers can connect confidently … in-app, on mobile, by email, by sms/text and by phone … and that is exactly what we have built,” Auto Market Direct founder and chief executive officer Steven McAuley said in a news release. “I am delighted to launch phase one of our project that is the culmination of many months of design and development by our diverse team of product and technical resources supported by increased investment by the company.”
The Auto Market Direct team aimed to create a unique platform with the tools that allow buyers and sellers to easily connect, the company said.
In addition to its versatile search engine, which allows users to narrow down their vehicle search by preferred make, model, price and location, vehicle listings posted using the platform are designed to be clear and easy to navigate.
Users can also save favorite vehicles and contact sellers directly through the mobile app.
Auto Market Direct is available on the company website, and the mobile app can be downloaded from the iTunes store.
The company said future versions of the platform will provide users with an online bid and counter-bid function, along with a full range of additional products and services and a suite of price guidance tools.
EVOX Images announced Wednesday that it has released the latest version of its RelayCars app after adding major updates that provide shoppers with more detail and vehicle research options during their virtual showroom tour experience.
The app lets users explore hundreds of make and models’ interiors and exteriors that have been on the market since 2015 via 360-degree imaging.
Since its inception, RelayCars has been downloaded more than 1 million times, the company said.
In addition to a new feature that enables color changes based on product-correct color options and more immersive photography, the new RelayCars 7 includes a new “Featured Vehicles” room, which highlights a curated selection of both new and noteworthy vehicles.
“We are very excited to debut these new features that will continue to improve the car shopping experience,” EVOX Images chief executive officer David Falstrup said in a news release. “There are so many advantages to a virtual showroom for car buyers, giving them access to experience hundreds of different makes and models that would otherwise not fit on the showroom floor. RelayCars 7 has evolved to become a greater asset to both the dealer and the shopper.”
Additionally, with RelayCars 7, there are also downloadable experiences in the app such as American Muscle Cars, Virtual Showroom and a Virtual Test Ride.
RelayCars 7 is free to download via the Oculus Samsung Gear VR Store.
AutoGravity highlighted another milestone on Tuesday.
The FinTech platform that leverages mobile technology to allow consumers to apply for financing said it surpassed $2 billion requested financing in 2017.
Launched in 2016, AutoGravity rapidly expanded from 100,000 users in its first six months to more than 1.3 million users, most of whom are convenience-seeking millennials — a digital generation that demands convenience and control in the palm of their hand.
“With more than $2 billion in finance amount requested in 2017, AutoGravity is at the forefront of digitizing the car-buying and financing experience,” AutoGravity chief executive officer Andy Hinrichs said.
“AutoGravity technology makes it possible for car buyers to access any showroom right from their smartphone, take control with personalized payments on any car in minutes — close the deal — and drive off the lot with confidence,” Hinrichs continued.
By providing users with the tools they need to find and finance any vehicle in minutes, AutoGravity insisted that its platform meets the growing market demand for digital retailing and transparency in auto financing.
Featuring real-time inventory, the AutoGravity app can streamline the vehicle-buying process by showing users exactly which dealerships carry the cars they want. Users can access personalized financing offers from the same indirect finance companies used by the dealer; so, they know their monthly payment.
All that’s left is whether to have the vehicle delivered, or pick it up from the dealership.
AutoGravity has built partnerships with many of the largest banks and financial institutions in the world, including key captives such as Mercedes-Benz Financial Services, Audi Financial Services, Volkswagen Credit and Hyundai Capital America.
Additionally, AutoGravity has partnered with the top five dealer groups in the U.S., building a network of more than 2,000 dealers.
For more information about AutoGravity, visit www.AutoGravity.com.
Dominion Dealer Solutions announced Monday that it has released its new automotive dealer management system (DMS), Dominion VUE, which is hosted in the Microsoft Azure Cloud.
The new system features an intuitive interface and bank-level encryption that allows dealerships to access all dealer data in real-time from any location without a VPN or remote server, the company said.
“Dominion VUE secures in the Azure Cloud all current and historical dealer data for all rooftops in the business. This creates unique opportunities to analyze, manage and improve business metrics against industry standards,” president of Dominion DMS at Dominion Dealer Solutions Van Koppersmith said in a new release.
Dominion VUE can run on most browsers and device types, and it requires no VPN or associated fees.
In addition to a suite of fully integrated dealer management applications, Dominion VUE also has a STAR-compliant API for third-party integrations, according to the company.
“Dealers have struggled for years on patched DMS programs that mostly frustrate their employees and customers. In contrast, Dominion VUE provides the first holistic Fixed Ops solution built at one time, on a single platform, with seamless transitions from one step in the operation to the next. And the one-click customization options, even for enterprise-level reporting, allow for targeted, location-specific results,” said Koppersmith.
Autosoft announced Wednesday that it has introduced Inventory Management, a second DMS module that provides dealerships with vehicle appraisal, inventory pricing, and merchandising functionality with mobile capabilities.
This follows Autosoft’s launch of its next-generation DMS earlier this year, the company said.
The new cloud-based platform lets dealerships utilize all key solutions from one database that can be accessed by a single sign-on.
“A single platform has proven to enhance the customer experience as well as improve speed, productivity, and scalability for every department. It enables stronger decision-making since all staff have real-time access to the same data,” Autosoft president and chief executive officer Bryce Veon said in a news release.
Additionally, Autosoft said that it is in the process of developing the accounting, service, parts, and CRM aspects of the platform.
With the new Inventory Management solution dealers can access auction data from Manheim Market Reports and book values from Black Book, NADA and Kelley Blue Book.
Via the solution’s inventory bookout functionality dealers can get instant access to data from the desking screen in Autosoft sales and F&I.
Along with the release of Inventory Management, Autosoft said that it is preparing to introduce an embedded software applications marketplace where dealerships can easily customize their solution to their specific needs.
Vehicle history report provider ClearVin announced Tuesday that it is expanding its vehicle history reporting service to help automotive industry businesses better determine vehicles’ quality and potential sale value.
Integration with ClearVin now allows business such as automotive dealerships, insurance companies and automotive auction houses to view current title brand history, lien history and insurance claim information directly on their system without having to leave their proprietary platforms.
“ClearVin was started to meet the consumer need for a vehicle history report that contained dealer level data at a lower price point than what the industry currently had on offer,” company chief executive officer Yury Strachuk explained in a news release. "As we improved our reporting to meet federal and state regulations as to what constitutes a 'Valid' vehicle history report, we found that ClearVin had grown into a service that could meet business to business needs."
Additionally, ClearVin shared that it recently launched its affiliate program for businesses with web or app audiences who are potentially interested in detailed vehicle history reports.
Last year, the company began collaborating with J.D. Power Valuation Services to deliver NADA Values data to its client base of dealers and wholesalers who buy and sell used vehicles through its product.
This week, White Clarke Group highlighted that one of its tools is being leveraged by Toyota and Lexus Financial Services throughout the United Kingdom. The captives launched the new NGage system nationwide for instant, seamless and transparent customer finance quotations and agreements.
White Clarke said that Toyota and Lexus dealers across the U.K. are making the business of financing a vehicle purchase quicker and simpler for customers with the introduction of NGage, a new, web-based electronic point-of-sale system.
Commissioned by Toyota and Lexus Financial Services, NGage is designed to provide a wealth of features designed to help customers choose the package that’s right for them and, when happy with the details, use an electronic signature to agree the finance deal. Quotations can be compared side-by-side with appropriate interest rates (quoted as APR) and finance approval can be obtained almost immediately.
White Clarke pointed out the process eliminates the need for paper documents at the quotation and agreement stage and avoids the delays that can occur when documents have to be physically signed and returned. The company said the clarity and ease of use are in line with the kind of streamlined purchase procedures customers experience and appreciate in other retail areas.
At the same time as NGage makes for a seamless and transparent customer experience, White Clarke went on to mention the solution is also designed to be robust and secure. For example, any application for finance has to be supported by customer proof of identity.
NGage uses CALMS software designed by the White Clarke, enabling interfaces with leading credit bureaus and vehicle data services. It is highly flexible and can be accessed using a wide range of devices, from desktop computers to tablets and smartphones.
“We have sought to produce a best-in-class front-end system that will help strengthen our performance in fleet, retail and direct customer sales,” said Fran Kenny, director of operations at Toyota Financial Services.
“We have had positive feedback from our dealers and we see great potential in the business agility that NGage can provide,” Kenny continued. “Auto finance is dynamic, fast-growing marketplace, so it’s important for us to be agile and contain costs while delivering business change that benefits us, our dealers and our customers.”
NGage has been developed and extensively tested prior to a national roll-out through Toyota and Lexus’ 234 centers over a six-week period with full implementation completed by end of November. At the same time, an e-training program has been used for all dealer and internal staff to learn how the system works and the benefits it can deliver.
“We are delighted that Toyota Financial Services, having completed a thorough market assessment has chosen to extend its partnership with White Clarke Group through the implementation of White Clarke Group’s new CALMS3 product,” said Brendan Gleeson, group chief executive officer at White Clarke Group.
“CALMS3 has undergone a complete technical upgrade utilizing the latest UX technology and design techniques to deliver greater agility and transform the customer experience, including the implementation of the CALMS3 digital processing and e-Signature/e-ID functionality,” Gleeson went on to say. “It’s fantastic to have had such a smooth and well received go-live.”
Consumers likely are not just shopping for their next vehicle with their mobile device. They’re probably going to be making installment contract payments with those devices, too, if they’re not doing so already.
The Federal Reserve Bank of Boston recently released results of an elaborate study with multiple Federal Reserve Banks and other financial institutions about their mobile banking and payment practices and plans.
Policymakers stated the study confirms that mobile banking comprises a standard and maturing set of services for consumers, offered by 89 percent of respondents, and that retail mobile payment services, while not yet widespread, are already offered by 24 percent of survey respondents.
Officials highlighted that the following eight points are mobile banking findings common to institutions across most districts:
—Retail mobile banking is ubiquitous at U.S. financial institutions: Eighty-nine percent of financial institution respondents currently offer mobile banking services to consumers; and 97 percent will offer these service by 2018.
—By 2018, 77 percent of bank and 47 percent of credit union respondents anticipate providing mobile banking services to other customer segments including commercial and small business, government agencies, educational entities, and non-profits – commercial and small business are the most prevalent.
—Nearly all financial institutions offer or plan to offer mobile apps that support the two dominant mobile operating systems: Ninety-eight percent to support Apple iOS and 97 percent to support Android OS.
—Most respondents offer or plan to offer the following services to consumers: ability to check balances (92 percent); transfer funds between their accounts within the FI (90 percent); mobile enrollment (71 percent); and single sign-on capabilities (61 percent).
—Of those financial institutions tracking customer adoption, 54 percent now have more than 20 percent of their retail customers enrolled in mobile banking; and 44 percent have more than 20 percent actively using these services.
—Among financial institutions offering and tracking business mobile banking adoption, more than half (55 percent) still have adoption rates less than 5 percent.
—Mobile banking is essentially a free service to retail customers; only eight percent either charge or plan to charge an explicit mobile banking fee and only for some advanced services; however, 25 percent of respondents currently charge or are considering fees for mobile banking services to business customers.
—The key mobile banking security concern cited by respondents is the consumer’s lack of protective behavior. In response, financial institutions have implemented a range of mitigation controls — more than 80 percent support inactivity timeouts and multi-factor authentication (MFA), as well as mobile alerts –to enhance security and help change consumer behavior.
The complete study is available here.
How vehicles get utilized by buyers once they leave your showroom continues to change at a breakneck pace.
Companies such as Lyft and Uber have carved out business activities by often providing short-distance transportation; say to or from an airport or back home if you’ve had too many beverages at happy hour.
Meanwhile, a new start-up company, SnagRide, has positioned itself as a modern ridesharing platform built on the Ethereum blockchain that connects drivers and passengers with affordable, long-distance travel.
SnagRide claims to be America’s first long-distance ridesharing community that combines artificial intelligence with blockchain technology through smart contracts.
“We’ve revolutionized the concept of ridesharing by introducing a platform that builds atop blockchain, equipped with a level of encryption, protection and efficiency unavailable in any other type of ridesharing application within the U.S. right now," said Terry Chan, founder and chief executive officer of SnagRide.
While insisting on being the first long-distance ridesharing community that draws on AI and blockchain technology through Smart Contracts, SnagRide believes it’s poised to be a disruptive and unique platform.
Chan explained that smart contract technology can enable the new platform to securely manage the lifecycle between drivers and passengers that are willing to travel together between cities. SnagRide's AI bot uses data analytics from Ethereum smart contracts to match drivers and passengers who are willing to travel together.
SnagRide's AI technology matches drivers and riders based on their demonstrated habits and preferences from prior SnagRide journeys.
Aware that the world is in need of more reliable and affordable long distance ridesharing solutions, SnagRide aims to provide a more convenient and comfortable traveling experience, one that is affordable, eco-friendly and reliable.
“We are very excited for SnagRide to be released in the App Store and Android Play Store for download in the coming months, delving into the ridesharing market that has desperately been in need of a long distance ride-sharing service,” Chan said.
In an effort to increase interest in its product, SnagRide announced the launch of its SnagRide (MILE) token sale. The pre-sale phase of the crowdsale is scheduled to happen over a span of four weeks, starting Jan. 10. The presale will be followed by SnagRide's official crowdsale campaign.
The participants in SnagRide presale can purchase MILE tokens with BTC, ETH and LTC payments. The platform offers an attractive bonus to early investors. Those who participate during the first week of the pre-sale stand to receive a 40 percent bonus. The bonus percentage will reduce by 10 percent each week, leading to 30 percent, 20 percent and 10 percent during the second, third and fourth weeks respectively.
Pre-sale (Jan. 10) Week One Bonus: 40 percent
Pre-sale: (Jan. 17) Week Two Bonus: 30 percent
Pre-sale: (Jan. 24) Week Three Bonus: 20 percent
Pre-sale: (Jan. 31) Week Four Bonus: 10 percent
SnagRide has set a maximum cap of 100 million MILE tokens, of which 84 percent will be distributed to the public, 15 percent will be retained by the team and 1 percent will be allocated for bounties. All unsold tokens after the completion of crowdsale will be burned, according to the company.
