LAKE SUCCESS, N.Y., Sept. 16, 2008 (GLOBE NEWSWIRE) -- DealerTrack Aftermarket Services, 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 the launch of SCS Express R8.0, the first fully web-enabled F&I aftermarket product administration service.
Built specifically for automotive aftermarket product and service providers, the DealerTrack SCS Express R8.0 platform is a fully integrated, web-based solution that automates and streamlines the F&I product administration process. This complete solution gives F&I product providers the necessary tools to run their back offices, while reducing IT expenses and saving time and manpower. This hosted service is designed to allow provider administration staff to access the full suite of product, contract, channel, claims and risk management functions 24/7 via an intuitive graphical user interface using only a web browser. With access to real-time data and powerful reporting features, SCS Express R8.0 enables administrators to track payments against sold business, perform precise analyses and identify program inefficiencies.
"We are very pleased to introduce the industry's first web-based aftermarket administration solution," said David Trinder, senior vice president of Network Solutions at DealerTrack. "SCS Express makes it possible for service contract and GAP providers to administer their products with increased efficiency, regardless of the complexity of the products or processes. It also allows both agents and customers to access and track their business from remote locations."
SCS Express is integrated with the DealerTrack Aftermarket Network. Providers on the Aftermarket Network give their dealers access to real-time rating and vehicle eligibility information, as well as electronic contract submission and remittance capabilities. Aftermarket providers using SCS Express and the Aftermarket Network together can take advantage of a single solution to effectively communicate to dealers and agents through a web-based platform.
With free access to the Aftermarket Network, dealers can reduce contract errors and increase their F&I aftermarket product sales profitability. Dealers subscribing to DealerTrack eMenu, which is integrated with the Aftermarket Network, can realize greater profits and reduce compliance risks with consistent presentations and full disclosures.
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 and related industries. The company's solutions enable dealers to receive consumer leads, submit credit applications and receive responses, compare financing and leasing options, sell insurance, 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, including more than 90% of all franchised dealers; over 700 financing sources; and other service and information providers are active in the DealerTrack network.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits and functionality of SCS Express and DealerTrack eMenu 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 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: the proper implementation and integration of SCS Express by aftermarket providers; the use of eMenu on every deal; and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ended December 31, 2007. These filings can be found on DealerTrack's website at www.dealertrack.com and the SEC's website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and DealerTrack disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.