Software company DealerSocket says enhancements such as improved data collection capabilities for its Dealership Management System for independent dealers — or iDMS — “reaffirm the company’s deep commitment to the used-car market.”
At its annual user summit in August, DealerSocket announced what it described as “several key innovations,” and in addition to the iDMS data collection capability enhancements, some of the top improvements included a new integration with an F&I software company and increased process automation.
The company said its iDMS now integrates with Vision Dealer Solutions’ VisionMenu. DealerSocket described VisionMenu as a customizable web-based F&I menu that can electronically rate and contract protections from more than 100 F&I product providers.
F&I trainer Ron Martin created the F&I selling system, which also electronically signs disclosures and product contracts. The system also offers F&I performance reporting.
DealerSocket iDMS general manager Steve Meeker said that with DealerSocket’s new partnership with Vision Dealer Solutions, an F&I manager can easily pull deal data to save time through the API integration between iDMS and VisionMenu.
“As the F&I market evolves to online retailing, presentation styles must be dynamic to create an engaging customer experience,” Meeker said in a news release. “The DealerSocket/VisionMenu partnership enables F&I managers to easily present a customizable menu to sell and eContract F&I products. This integration also opens up new opportunities for dealers to sell more aftermarket products faster and easier than ever before.”
Additional improvements to iDMS separate from that partnership include secure data sharing. With DealerSocket, iDMS users can supply needed data files to third-party software vendors.
A dealer’s ability to deliver standard or custom reports to an FTP server’s IP address or URL location allows them to manage the process without reliance on outside service providers, according to DealerSocket.
The company says it has also improved the user experience when originating retail and wholesale deals within iDMS. That enhancement, according to the company, could produce what it describes as a more efficient deal workflow.
Because iDMS users can now evaluate worksheets side by side, they can identify important information that might lead to better decisions in the area of optimal deal structure, according to DealerSocket.
DealerSocket chief product officer Brad Perry said the new iDMS enhancements could improve the user experience, automate important processes, and provide more new revenue stream-generating opportunities for users.
“These updates show DealerSocket’s commitment to open integration by providing our iDMS customers with greater control and customization,” Perry said.
DealerSocket has also made tracking up to 150 user-defined data fields possible, with some of those fields including bankruptcy filings, repossession dates, date of a condition report, and time of disposition.
With that functionality, according to DealerSocket, iDMS users experience more flexibility in the area of their data collection activities.
With this upgrade, DealerSocket also rolls out enhancements to the bi-directional integration between DealerSocket’s iDMS and service shop management software provider Omnique.
iDMS users, in addition to pushing and receiving vehicle details and service tickets between the two systems, can now automatically post service-related general ledger transactions directly from Omnique to QuickBooks. They can do that through a new Omnique Accounting Link, and according to the company, that saves time and reduces keystroke errors.