Frost & Sullivan Awards DealerSocket for its Comprehensive Suite of Software Solutions for the Automotive Retailing Market

February 19, 2019

DealerSocket's unique solutions cover every aspect of business including marketing, sales, services & customer experience

SANTA CLARA, CA, February 19, 2019  -  Based on its recent analysis of the North American automotive dealership software market, Frost & Sullivan recognizes DealerSocket with the 2018 North American Customer Service Leadership Award for addressing the end-to-end requirements of an auto retailing business. Its digitally integrated products – DealerFire websites, Inventory+, its digital retailing software Precise Price, independent-dealer focused dealership management systems (DMS), and customer relationship management (CRM) solutions – have found a prominent position in the market as they elevate consumers' vehicle purchase, sale, and service experiences. The company's expertise in working with dealerships of all sizes and its advanced software offerings positions it as the ideal solution for the demands of the automotive retail industry.

"DealerSocket's consumer-centric automotive platform consists of customer relationship management, vehicle inventory management, state-of-the-art websites and marketing, and search engine optimization support to improve reach and visibility for dealers. Auto dealers can leverage its insightful analytics services to make decisions based on the data available within its group and across the nation," said Shruti Pathak, Research Analyst at Frost & Sullivan. "Its software makes business operations seamless. The company tailors its suite of integrated applications to meet the needs of large franchises, single-store retailers, as well as independent and buy-here pay-here (BHPH) dealerships."

DealerSocket is much more than its customer relationship management software. DealerSocket recently launched DealerFire Engine 6, the most advanced web site platform available in the market in terms of functionality. Engine 6 stands out for its ability to be fully integrated with DealerSocket's CRM tools. Its user-friendly features include multi-device preview mode, form library with 40+ smart fields, as well as a single drag-and-drop functionality for website building and faster loading speed.

DealerSocket is equally focused on improving the way the company services its customers and leverages the feedback for its improvement. Owing to its commitment to customer satisfaction, DealerSocket now offers best-in-class customer service, including call wait times well below industry average.

The company's Inventory+ management platform helps dealerships identify, source, and merchandise the right inventory to maximize their profits. The solution provides dealerships access to all tools to make the right decisions concerning the acquisition and pricing of inventory.

DealerSocket's Precise Price tool caters to Internet-savvy buyers who prefer completing most procedures online. It facilitates a transparent buying process that allows consumers to build their own deal at home and save time during the in-person transaction at the dealership. Precise Price has been able to increase total gross by an additional average of more than $300 additional total gross and $200 of F&I gross per deal comparatively.

Finally, its iDMS, which is a best-of-breed DMS, has been designed to help manage all mission-critical aspects of an independent and BHPH automotive dealership. It boasts feature-rich inventory management, sales, customer, and account tracking tools, as well as unparalleled collection utilities, custom reporting, and data exporting capabilities.

"DealerSocket's solutions have been integrated in more than 8,000 auto dealerships across the United States, Canada, and Australia. Since its inception, the company has helped dealers sell more than 100 million vehicles," noted Shruti. "For enabling clients to boost their online presence and deliver enriched services to customers, Frost & Sullivan is proud to present the 2018 North American Customer Service Leadership Award to DealerSocket."

Each year, Frost & Sullivan presents this award to the company that has maintained consistently high standards for customer service quality that resulted in trusted and strategic relationships. The company has leveraged customer feedback, demonstrated superior speed/timeliness, ensured frictionless interaction and outstanding price/performance value, offered a rich customer purchase/ownership experience, and raised its overall brand equity.

"Over the past year, we have invested millions into our customer service and support with one goal in mind: to become our customers' trusted advisor focused on helping them succeed," said Sejal Pietrzak, President and CEO of DealerSocket. "DealerSocket remains committed to our focus of both customer service and product innovation. Our mission is to drive the future of automotive and help our customers sell more vehicles, build meaningful connections with their customers, and drive operational efficiency that saves them time and money."

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About DealerSocket

DealerSocket is a leading provider of software for the automotive industry, offering a suite of seamlessly integrated products to help dealers sell and service vehicles more profitably, while improving their customers' experience. DealerSocket's suite of products includes advanced Customer Relationship Management (CRM), innovative Digital Marketing and Websites, robust Vehicle Inventory Management, insightful Analytics Reporting, and solutions to streamline dealer operations such as Desking, Credit Reporting, Compliance, and a Dealer Management System (DMS) for dealers of all sizes. DealerSocket employs nearly 1,000 team members serving more than 8,000 dealerships. For more information, visit DealerSocket.com or follow us on Twitter, LinkedIn, and Facebook.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.

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