DealerTrack Launches InventoryPro, Next Generation Inventory Management Solution
04 2월 2007 - 1:00AM
PR Newswire (US)
InventoryPro is the foundation of DealerTrack's strategy to provide
dealers with a comprehensive inventory management solution LAKE
SUCCESS, N.Y., Feb. 3 /PRNewswire-FirstCall/ -- DealerTrack, Inc.,
a subsidiary of DealerTrack Holdings, Inc. (NASDAQ:TRAK), today
announced the introduction of InventoryPro, a new inventory
management solution for auto dealers. InventoryPro will empower
dealers, leveraging their valuable knowledge and expertise with
analytical tools that manage inventory turnover through the use of
dealers' specific sales history, as well as market data. Resulting
recommendations enable dealers to take control of their inventory
and stock more of the vehicles that turn faster and generate higher
gross profits, while quickly disposing of those that are less
profitable. Additionally, InventoryPro will provide dealers with a
broad range of tools to appraise and book out their inventory,
integrating values from Manheim Market Report(TM) (MMR),
N.A.D.A.(R), Black Book(R) and Kelley Blue Book(R). Mark O'Neil,
DealerTrack's chairman and CEO, said, "With the continued market
pressure on for new vehicle sales, we believe dealers are placing a
growing premium on maximizing the profitability of their used
vehicle operations. Systematic inventory management, based on
industry data as well as the dealerships' own sales and
profitability records, should increase inventory turns and deliver
dealers much needed improvement in profitability." With the launch
of InventoryPro, DealerTrack begins the introduction of its
comprehensive inventory solution. Throughout the year a series of
products and services are expected to be deployed to further
enhance dealers' inventory needs, including: -- Integration with
Chrome's ADS (Automotive Description Service) which will give
dealers the ability to deliver more accurate and comprehensive
vehicle descriptions than the VIN decoder products currently on the
market. -- An inventory exchange that will provide dealers with a
single point of access to inventory on a real-time basis from
various auctions, including Manheim and a variety of ATC-Onlane
hosted wholesale auction websites (including ATC Open). --
Inventory Management and Analytical tools through InventoryPro. --
ALG pricing and market data as well as content from Chrome. All of
these capabilities will be provided as part of the DealerTrack
suite of products, allowing dealers to leverage a single platform
delivering unparalleled value. "We are pleased to partner with
DealerTrack to provide the Manheim Market Report to dealerships
across the country," said Lynn Morgan, Vice President of Manheim
Consulting. "InventoryPro is another opportunity for our
organizations to broaden the services provided to dealers to help
them gain more control over their inventory costs." DealerTrack's
main objective is to provide dealers a way to manage all of their
inventory needs in one place and create a marketplace for dealers
to buy and sell inventory in a real-time environment. InventoryPro
will be easy to use and features enhanced functionality, including
best-in-class vehicle appraisal capabilities. InventoryPro will
also be integrated with other DealerTrack sales and F&I
solutions, enabling dealers to take a vehicle from inventory to
structuring, financing and funding a deal -- in one seamless,
paperless process. InventoryPro replaces DealerTrack's
DealerWire(R) solution, which was acquired last year and will be
phased out as subscribers are transitioned to the new product at no
additional charge About DealerTrack (http://www.dealertrack.com/)
DealerTrack (NASDAQ:TRAK) is a leading provider of on-demand
software and data solutions for the U.S. automotive retail
industry. The company's online credit application processing
product automates and accelerates the automotive financing process,
while its integrated subscription-based software enables dealers to
receive consumer leads, compare financing and leasing options, sell
insurance and other aftermarket products, document compliance, and
execute financing contracts electronically. Over 22,000 dealers,
with more than 85% of all franchised dealers; over 300 financing
sources, including nine captives and the 20 largest U.S.
independents; and other service and information providers are
active in the DealerTrack network. Safe Harbor for Forward-Looking
and Cautionary Statements Statements in this press release
regarding DealerTrack, the features and benefits of InventoryPro,
future inventory solution products and services, 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
Holdings, Inc. 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: increased competitive pressure from other
industry participants, the inability to execute any element of
DealerTrack's business strategy, including the retention of dealers
and aftermarket provider customers; selling additional products and
services to existing and new customers; success in expanding our
customer base and product and service offerings and integrating
acquisitions; and other risks listed in our reports filed with the
SEC, including our Annual Report on Form 10-K for the year ended
December 31, 2005. These filings can be found at
http://www.dealertrack.com/ and the SEC's website at
http://www.sec.gov/. Forward-looking statements included herein
speak only as of the date hereof and we disclaim 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. CONTACT: Greg Slote DealerTrack (516)
734-3921 Tom Pratt RFBinder Partners (212) 994-7563 DATASOURCE:
DealerTrack, Inc. CONTACT: Greg Slote of DealerTrack,
+1-516-734-3921, or ; or Tom Pratt of RFBinder Partners,
+1-212-994-7563, or , for DealerTrack, Inc. Web site:
http://www.dealertrack.com/
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