Reynolds and Reynolds Introduces Enterprise Information Management Solution
6 February 1999
Reynolds and Reynolds Introduces Enterprise Information Management Solution for Large Auto Retailing Organizations
DAYTON, Ohio--Feb. 6, 1999--Expands Extended Access and Reach Created by Reynolds'
Performance Path(TM) Solutions
Recognizing the sophisticated information management and analysis needs of the largest automotive retailing organizations, The Reynolds and Reynolds Company today introduced the Enterprise Information Management solution at the National Automobile Dealers Association (NADA) Annual Convention in San Francisco.
The Enterprise Information Management solution, which offers a wide range of business tools to improve profitability, was introduced as part of Reynolds' Performance Path(TM), a unique suite of solutions that gives auto retailers access to new sources of information, partnerships and opportunities.
"Enterprise Information Management is far more than a report generator," said Kurt Lieberman, group vice president of Reynolds' New Solutions Group. "It's a decision-support tool designed to help owners, general managers, financial managers and other executives understand and drive the performance of large, multi-dealer enterprises. The information available today to enterprises often is not accurate, or is insufficient to make sound, timely business decisions. With the insights gained from Enterprise Information Management, executives can swiftly and proactively make decisions that positively impact business results."
According to Lieberman, each Enterprise Information Management installation is tailored to meet the specific needs of the retailer. The solution has powerful data warehouse software that manages information from Reynolds' ERA(R) dealer management systems, as well as data that can be extracted from ADP's AC580 and AC900 systems. In other words, information stored in the data warehouse from multiple dealer systems within an enterprise is automatically updated and enables retailers to monitor sales results, vehicle inventory and profitability throughout the organization.
"Our goal is to provide a tool to significantly boost an entire chain's business performance while cost-effectively adding state-of-the-art technology to their business," said Lieberman.
Enterprise Information Management offers solutions in the areas of financial management, vehicle management, and sales and deal analysis.
Financial Solution: The Financial Solution feature strengthens the large retailer's financial management by saving time and effort when creating budgets, developing financial forecasts and monitoring results. It compares an organization's business plan forecast with current results and trends. It also assists in quickly identifying problems and opportunities that impact direct margins and cash flow.
"By defining criteria important to the dealer's business plan, the Financial Solution automatically generates exception reports where results fall outside expectations, providing real-time insights into the business," Lieberman said.
Vehicle Management Solution: The Vehicle Management feature helps large retailers carry the most profitable mix of vehicles while ensuring they don't tie up excess cash in inventory. It identifies which new and used vehicles are selling at the highest profit margins and return rates, and offers a VIN decoder and color mapping features to enhance inventory information and deal analysis.
"Our Vehicle Management Solution helps retailers make proactive vehicle buying decisions based on historical turn rates and current inventories," Lieberman said.
Sales and Deal Analysis Solution: This feature enables managers of various operations to identify the most profitable deals using a number of criteria including vehicle model, make and color, salesperson, F&I sales, and warranties.
Sales and Deal Analysis also monitors contracts in transit, assists in analyzing F&I penetration rates and helps pinpoint effectiveness of marketing programs by zip code, car make and model.
"With Enterprise Information Management, the enterprise can leverage its investment in personnel," said Lieberman. "Management and support staff time can now be spent solving business problems, not manually reporting and analyzing information that can be incomplete or inconsistent."
Reynolds and Reynolds, headquartered in Dayton, Ohio, is a leading provider of integrated information management systems and related value-added services to automotive and general business markets. The company has reported revenues of over $1.53 billion for the 12 months ended Dec. 31, 1998. For more information on Reynolds and Reynolds, visit the company's World Wide Web site at www.reyrey.com, or call The Reynolds and Reynolds Information Hotline at 1-888-4REYREY.