New enhancements are designed to drive F&I product sales, streamline deal workflows to simplify processes and provide greater control for iDMS users
DealerSocket, Inc., a leading provider of software to the automotive industry, announced several key innovations at its annual user summit last week. Headlining the list of upgrades are a new integration with a leading F&I software, robust process automation, and enhanced data collection capabilities for its Dealership Management System for independent dealers (iDMS). These enhancements reaffirm the company’s deep commitment to the used car market, focus on simplifying workflows, and open API integrations with software tools that support independent dealers.
DealerSocket’s iDMS now integrates with Vision Dealer Solutions’ VisionMenu, a customizable web-based F&I menu capable of electronically rating and contracting protections from more than 100 F&I product providers. Created by F&I trainer Ron Martin, the F&I selling system also electronically signs disclosures and product contracts, as well as offers F&I performance reporting.
Commenting on DealerSocket’s new partnership with Vision Dealer Solutions, Steve Meeker, General Manager of DealerSocket’s iDMS, noted that the API integration between iDMS and VisionMenu means an F&I manager can easily pull deal data to save time. “As the F&I market evolves to online retailing, presentation styles must be dynamic to create an engaging customer experience,” said Meeker. “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.”
Separate from this partnership, additional improvements to iDMS include secure data sharing, as DealerSocket has now made it possible for iDMS users to supply needed data files to third-party software vendors. Dealers can deliver standard or custom reports to an FTP server’s IP address or URL location, allowing them to manage the process without relying on outside service providers.
DealerSocket has also improved the user experience when originating retail and wholesale deals within iDMS, which is an enhancement designed to produce a more efficient deal workflow. iDMS users can now evaluate worksheets side by side, allowing them to identify critical pieces of information that might drive better decisions when it comes to optimal deal structure.
“All of these new enhancements to iDMS are designed to improve the user experience, automate key processes, and provide additional opportunities for users to generate new revenue streams,” said DealerSocket Chief Product Officer Brad Perry. “These updates show DealerSocket’s commitment to open integration by providing our iDMS customers with greater control and customization.”
DealerSocket has made it possible to track up to 150 user-defined data fields — from bankruptcy filings and repossession dates, to the date of a condition report, time of disposition, and much more. This functionality affords iDMS users greater flexibility when it comes to their data collection activities.
Enhancements to the bi-directional integration between DealerSocket’s iDMS and Omnique, a provider of service shop management software, were also rolled out with this upgrade. In addition to pushing and receiving vehicle details and service tickets between the two systems, iDMS users can now automatically post service-related general ledger transactions directly from Omnique to QuickBooks via a new Omnique Accounting Link, thus saving time and reducing keystroke errors.