DealerTrack Provides Update on Its Successful OpenTrack Program.
LAKE SUCCESS, N.Y., Feb 12, 2010 (BUSINESS WIRE) — DealerTrack Systems, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today provided an update on the success of its OpenTrack program, which gives dealerships and participating third-party solution providers real-time and bi-directional access to data within the DealerTrack Dealer Management System (DMS).
Since its launch last year, the OpenTrack initiative has been received with significant enthusiasm by many of the industry’s most prominent technology vendors – over 130 vendors have expressed interest in participating in the program. As a result, solution options featuring seamless, secure integration with the DealerTrack DMS are now available across virtually every segment of dealership operations. To mention just a few, DealerTrack has executed OpenTrack agreements with the following providers:
* CRM – DealerSocket, VinSolutions, eLEAD, iMagiclab, The Higher Gear Group
* Desking – Advent Resources, ProMax
* Menu – MenuVantage, Ristken Software, MaximTrak
* Multi-channel marketing – DME, @utoRevenue, DealerMine, Intelligent Automotive Advertising (IAA)
* Service appointments – Xtime, AutoEforms, TimeHighway
Of course, the DealerTrack AAX inventory management platform and other DealerTrack solutions are also integrated.
“We are very excited about the momentum of our OpenTrack program,” said Raj Sundaram, senior vice president, solutions and services group at DealerTrack. “Our dealers have expressed great support of our OpenTrack strategy and we are working as fast as possible to get all partners connected. The partners share and support our commitment to creating an effective, easy and affordable integration platform for our mutual dealer customers. OpenTrack clearly substantiates our vision of an open platform approach designed to give dealers the maximum flexibility to use the solutions that best meet their needs.”
“The OpenTrack program has enabled us to take our enhanced CRM functionality to a whole new level,” said Doug Kinney, CEO of VinSolutions. “Our customers with the DealerTrack DMS can now take advantage of real-time, bi-directional integration made possible by OpenTrack, allowing them to make critical decisions based on the most timely and accurate information available. In addition, the OpenTrack platform has been very easy to work with, and completely reliable from a systems standpoint.”
Additionally, some of the nation’s leading dealer groups have selected OpenTrack as the integration portal for their proprietary application development. For example, the Rydell Group, which operates 64 dealerships, is using OpenTrack to increase their operational efficiency and profitability. The increased flexibility dealerships get with the OpenTrack solution allows them to use a wide variety of software vendors that meet their specific needs.
About DealerTrack (www.dealertrack.com)
DealerTrack’s intuitive and high-value software solutions enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, agents and aftermarket providers. Our solution set for dealers is the industry’s most comprehensive. DealerTrack operates the industry’s largest online credit application network, connecting approximately 17,000 dealers with over 800 financing sources. Our Dealer Management System (DMS) provides dealers with easy-to-use tools with real-time data access that will streamline any automotive business. With DealerTrack AAX, dealers get the inventory management tools and services needed to accelerate turns and increase profit. Our Sales and F&I solution enables dealers to streamline the entire sales process, quickly structuring all types of deals from a single integrated platform. DealerTrack’s Compliance solution helps dealers meet legal and regulatory requirements and protect their hard-earned assets. DealerTrack’s family of companies also includes data and consulting services providers, ALG (Automotive Lease Guide) and Chrome Systems.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the implementation and adaptation of OpenTrack 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 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 economic trends affecting the automotive retail industry 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 ended December 31, 2008. These filings can be found on DealerTrack’s 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 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.