Reynolds and Reynolds Enhances, Grows Reynolds Generations Series(TM) Family of Solutions
Company Rolls Out Over 20 New Solutions Since Introduction, Including Desking Application, Web Services, Customer Management Tools SAN FRANCISCO, Feb. 1 -- The Reynolds and Reynolds Company today announced new capabilities within its Reynolds Generations Series(TM) family of solutions, extending the company's leadership in automotive customer relationship management. The new capabilities include a Desking solution that speeds the delivery of multiple financing and leasing options to consumers, on-line service scheduling through Reynolds Automark(R) Web Services, and a range of new options within the company's Customer Management solutions. "One year ago, Reynolds and Reynolds made the most important announcement of its 137-year history - the introduction of the Reynolds Generations Series," said Lloyd "Buzz" Waterhouse, CEO, chairman and president of Reynolds. "Since that time, we have delivered results that matter to automotive retailers -- including over 20 new dealership solutions -- helping them turn their customers into repeat customers." This steady growth of the Reynolds Generations Series has resulted in increased customer interest and installations. The further enhancement to this family of solutions was announced today by Reynolds during the National Automobile Dealers Association 2003 Convention held in San Francisco. The primary areas of growth -- and those that automotive retailers indicated were most important to their businesses -- are within the Sales, Finance and Insurance Management, Web Brand Management and Customer Management areas of the Reynolds Generations Series. Multiple enhancements to each were introduced during the convention. F&I Management "We interviewed hundreds of customers to explore their usage and ultimate interest in a specialized deal management or desking tool," said Greg Collins, senior vice president of Reynolds Transformation Services. "What we found was that 90 percent of those surveyed used some type of software or other program to calculate payments and 'desk' their deals; however, much of that software is lacking one element deemed crucial by retailers - complete integration. "In response to this, we are announcing the Reynolds Desking solution," added Collins. Desking, a term commonly used to refer to the process of calculating payments and quoting the many aspects of the transaction to potential customers, is a crucial element in the sale of vehicles. Reynolds Desking solution was developed with this in mind and is designed to quickly present customers with multiple financing and leasing options that meet their individual needs while maximizing dealership profits. Reynolds Desking is able to link information dealership-wide through integration with Reynolds systems. This results in less time spent re-keying information and reconfiguring deals, leading to more time spent with the customer and contributing positive results to the bottom line. "Total integration streamlines the sales and F&I processes and eliminates time-consuming clerical tasks and data entry errors," said Collins. "By integrating with other Reynolds Generations Series applications, such as Reynolds Contact Management, valuable customer information easily flows throughout the dealership - from the sales floor, to the F&I Department, to the Service Department." Reynolds Desking offers up to six financing and/or leasing scenarios on one worksheet, enabling retailers to review and assess a number of financing opportunities at a glance. The retailer is able to compare and choose the most beneficial scenario for both the customer and the dealership from a single workstation. "This application lets retailers further build customer trust and satisfaction by offering payment structures that meet individual needs," said Collins. "With Reynolds Desking, a retailer can create a win-win deal for the dealership and the customer by structuring a deal that will meet the customer's needs and maximize dealership profit." Web Brand Management "Our experience has shown that about half of all vehicle shoppers visit a dealership Web site, and an overwhelming majority visit at least one independent site," said Collins. "To be successful in automotive retailing, dealerships need to be where their customers are going - in this case, the Internet." It is for this reason that the company highlighted its Automark Web Services as part of the initial launch of the Reynolds Generations Series. Automark Web Services is a comprehensive suite of e-commerce solutions created specifically to meet the unique needs of retailers. With a commitment to the right processes and technology, on average, dealerships using Reynolds Automark Web Services sell nearly 40 percent more vehicles on-line than they did prior to utilizing the services. These services have been further enhanced to include Online Service Integration. "Today, a retailer's customers are better informed and more demanding than ever, insisting on a hassle-free on-line experience with knowledge-based service at every retail touch point," said Collins. "Our new Online Service Integration will help retailers respond to these heightened customer expectations by allowing them to make better use of their customer information to service and sell more cars more profitably and with the greatest possible customer satisfaction." Online Service Integration allows customers to schedule service appointments on a dealership's Web site and access real-time repair order status information. It is completely integrated with a dealership's Reynolds system and provides e-mail notifications to alert customers when their cars are ready. Future enhancements will include access to a vehicle's service history, online invoice payments and integration with Service Price Guides, a Reynolds application that allows retailers to price out vehicle repairs. "This not only is a beneficial feature to the consumer, but Online Service Integration is an even more powerful solution to a retailer who utilizes a completely integrated system," said Collins. "For example, imagine a scenario where a customer's vehicle is due for its regular 15,000-mile maintenance service, and that customer is notified - via e-mail - of this service need by his on-board telematics diagnostic service, Reynolds Networkcar(TM). From a link within the e-mail reminder, the customer enters the dealership Web site and schedules the oil change. "All of the pieces work together as one, resulting in more efficient business practices and highly satisfied customers. Combined with our real-time vehicle inventory and our new service offering, the possibilities to drive even more profits and customer loyalty from retailers' and car companies' Web sites are endless," said Collins. Customer Management There are multiple enhancements to the Customer Management module of Reynolds Generations Series, all of which enable an even greater level of integration than available previously. These solutions, which include the recently announced MSN Autos Dealerpoint acquisition and a new telephony interface, all address one or more of the "seven points of opportunity." "Reynolds' entire customer management strategy revolves around what we call the seven points of opportunity," said Randy Harvey, senior vice president of Reynolds Software Solutions. "These points include inbound opportunities - those that originate from the Internet, telephone and showroom - and outbound opportunities - unsold follow-ups, sold follow-ups and prospecting. The seventh point of opportunity - service - could originate in either category. "In addition to addressing these short-term opportunity points, our system and integration allow for long-term capturing of opportunities, including tying new car sales to service, service customer retention, and the re- conversion of customers into new car sales," said Harvey. "We are able to help retailers deliver greater value to their customers while deriving greater value from their customer, truly creating customers for life." Reynolds' latest addition to its Customer Management offerings is MSN Autos' Dealerpoint. Reynolds will provide newly-acquired Dealerpoint as a basic Internet lead management tool focused on delivering ease of use in the context of an entry-level Internet lead management solution. The company's existing contact management solution, which was introduced in 2002 as part of the company's initial launch of the Reynolds Generations Series, will continue to represent the company's premium offering. It is focused on comprehensive inbound and outbound dealership management system integration and sales process reinforcement to ensure that a retailer's customers are always contacted with the correct message. Retailers using Reynolds Customer Management also will be able to capture all phone-based leads and phone follow-ups with Reynolds' new telephony integration. This feature allows dealerships to obtain important sales and service prospect information such as records of the source of each call, customer demographic information and customer contact information through specific in-bound 1-800 technology. "With these enhancements alone, Reynolds has significantly increased the retailer's ability to capture valuable in-bound opportunities," said Harvey. Reynolds and Reynolds (http://www.reyrey.com) is the leading provider of integrated solutions that help automotive retailers manage change and improve their profitability. With 75 years of experience serving automotive retailing, Reynolds enables car companies and retailers to work together to build the lifetime value of their customers. The company's award-winning software, service and training solutions include a full range of retail and enterprise management systems; networking and support; e-business applications; Web services; learning and consulting services; CRM solutions, document and data management and leasing services. Reynolds serves more than 20,000 customers comprising 90 percent of the automotive retailers and all virtually car companies in North America. It conducts CRM consulting services on five continents.