LAKE SUCCESS, N.Y., July 2, 2008 (PRIME NEWSWIRE) -- DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq:TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announced that DealerTrack eContracting(tm) has been integrated with Advent Resources, Inc.'s sales management solutions for dealerships. This integration enables fast and accurate importing of retail and lease contract data directly from the Advent Resources, Inc. systems, automatically and seamlessly populating the appropriate data fields in the electronic contract.
"This enhancement builds on our position as the market leader in automotive electronic contracting, and further demonstrates our commitment to a complete and seamless solution spanning the entire dealership workflow," said Mark O'Neil, chairman and chief executive officer of DealerTrack.
Advent Resources, Inc. adds to the list of solutions with which eContracting integrates, which includes the DealerTrack Arkona DMS, ADP, Reynolds and Reynolds, and Data Consultants (Grapevine/InfinitiNet).
DealerTrack eContracting, which is integrated with the DealerTrack online credit application network, is an important component of the DealerTrack paperless F&I process. eContracting enables dealers to pre-populate, complete and submit retail installment sales and lease contracts electronically to financing sources. In the traditional paper-intensive process, overnight mailing, cross-checking, re-contracting (if necessary), and finally funding a contract can take a week or more. The use of eContracting results in faster, more accurate completion of contracts and funding for the dealer as soon as the same day.
About Advent Resources, Inc. (www.adventresources.com)
Advent Resources, Inc. was established in 1988 and is the leading provider of thoughtful and high value software solutions for the automotive retail environment. Located in San Pedro, California, Advent Resources Inc. serves hundreds of clients including some of the largest dealerships in the U.S. and Canada.
About DealerTrack (www.dealertrack.com)
DealerTrack Holdings, Inc. (Nasdaq:TRAK) is a leading provider of on-demand software and data solutions for the U.S. automotive retail industry. Our solutions enable dealers to receive consumer leads, submit credit applications, compare financing and leasing options, sell insurance, vehicle accessories and other aftermarket products, document compliance, and execute financing contracts electronically. In addition, the DealerTrack Arkona DMS (dealer management system) is used by dealerships nationwide. Over 22,000 dealers, 500 financing sources, and many other service and information providers are active in the DealerTrack network. For more information, visit www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding DealerTrack eContracting, its benefits, the integration of eContracting with other products and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack Holdings, Inc. to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include: increased competitive pressure from other industry participants; success in expanding our customer base and product and service offerings and integrating acquisitions; and other risks listed in our reports filed with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2007.
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