Concentra and Loandata Launch SpotDesk
10 August 1998
Concentra and Loandata Launch SpotDesk, New Component of Spot Finance Maximizes Auto Dealer Profits
BURLINGTON, Mass.--Aug. 10, 1998--SpotDesk Speeds Lease and Loan Processes and Enhances
Customer Satisfaction
Concentra Corporation , a provider of solutions that transform the way companies sell products, services and systems, and Loandata, a majority owned subsidiary of Concentra, today unveiled SpotDesk(TM), a new component of the Spot Finance(TM) software package of tools for automobile dealers and lenders. Spot Finance is the first software solution to combine dealer, lender and consumer data to configure all viable automobile purchase and finance opportunities. SpotDesk is designed to be used by the dealership's sales managers and business managers (also known as the Finance and Insurance managers), and provides them with vehicle-specific profit information in real-time on a deal-by-deal basis, revolutionizing the way cars are sold and financed.
Loandata estimates that the potential U.S. market for Spot Finance is $1.5 billion annually. The Spot Finance solution, which runs on kiosks and desktops for the sales staff and management, provides a variety of features and functionality for viewing dealer inventory, submitting credit information, negotiating finance and insurance options, and closing the sale.
"SpotDesk gives the dealer the ability to negotiate an acceptable deal for the consumer while maintaining competitive profit levels, speeding the sales process and driving customer satisfaction and loyalty. By knowing their exact cost basis and profit potential, dealers can negotiate without including a 'fudge factor' to ensure profitability", said Toby Reiley, president of Loandata. "We designed SpotDesk to make the Spot Finance solution even more versatile, with a desktop and a kiosk-based system dealers are able to apply the technology based on individual business practices."
The Spot Finance solution has been successfully implemented at the Ira Motor Group in Danvers, Mass. which plans to deploy SpotDesk in July. According to Bob Staretz, director of information services at Ira Motor Group, "SpotDesk will make negotiating sales and financing options easier and more profitable by allowing our business managers to track profit margins in real-time. This technology is unsurpassed in terms of ease of use and immediate business benefits."
As part of the Spot Finance solution, SpotDesk uses SellingPoint(R), Concentra's sales configuration solution, to combine and organize dealer, lender and consumer data to assign credit tiers and match customers to appropriate vehicles. SellingPoint is the technology inside SpotDesk that creates a dynamic model of the rules and constraints of loan or lease processing and converts that data into finance solutions specific to consumer and dealer needs. SellingPoint's customizable maintenance environment allows SpotDesk to provide lenders and dealers with a quick and easy way to adjust and update financial processing information.
SpotDesk with Connectivity
SpotDesk with Connectivity, an enhanced version of the original, enables the electronic exchange of information between dealers and lenders. This module automates communication with lending institutions; streamlining and in some cases eliminating the paperwork associated with the application process, reducing the time required to process transactions and increasing productivity in the finance and insurance and sales departments.
SpotDesk with Auto Decisioning
SpotDesk is also available with AutoDecisioning, an enhanced version that connects the dealer to the lender's Web site via automated fax or electronic communications with the lender's computer system. This new module features "automatic decisioning" which allows the dealer to instantly approve a customer's loan application based on guidelines and/or criteria that have been provided by the lender.
"The SpotDesk application of the SellingPoint technology is a perfect marriage of Concentra's technology-enabled selling know-how with Loandata's auto industry expertise," said Bob Phillips, chief technology officer at Concentra. "SpotDesk will quickly create unparalleled business benefits to dealers and transform the consumer's buying experience."
Pricing and Availability
SpotDesk will be available beginning this fourth quarter of this year. Dealers will only pay for Spot finance when they have sold a car.
About Concentra
Concentra Corporation is a leading provider of sales force automation solutions that transform the way companies sell products, services and systems. Companies worldwide in the aerospace, automotive, industrial products and high technology industries are using SellingPoint, Concentra's advanced technology-enabled selling system to gain a competitive advantage by quickly and accurately meeting each customer's needs. Concentra is headquartered in Massachusetts with offices throughout the United States and Europe. For more information, contact Concentra Corporation, 21 North Avenue, Burlington, Mass. 01803-3301, Tel: (781) 229-4600, Fax: (781) 229-4700, info@concentra.com or http://www.concentra.com.
SellingPoint is a registered trademark of Concentra Corporation. SpotFinance and SpotDesk are registered trademarks of Loandata LLC. All other trademarks and registered trademarks are the property of their respective owners.