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DealerTrack Enhances Compliance Solution With Adverse Action Functionality

January 27, 2009

Lake Success, N.Y. - DealerTrack Inc., a subsidiary of DealerTrack Holdings Inc., a software provider for the U.S. automotive industry, announced last Saturday that it has enhanced the DealerTrack Compliance Solution to make it easier for dealers to automate their adverse action notice communications. As required by federal law, dealers must send adverse action notices to consumers who seek dealer assisted financing and are denied credit.

All dealers on the DealerTrack platform are now able to take advantage of the new Adverse Action Manager, which automatically identifies which customers may require adverse action communications through its robust rules engine. It provides a centralized view of these customers, allowing for easy processing of required notices. In addition, subscribers to the DealerTrack Compliance Solution can take advantage of the following powerful tools:

New automated mailing services (available in Spring 2009)

Ability to customize adverse action notices

Ability to generate and print notices in "batches"

"These enhancements continue to build on our commitment to provide dealers with a complete compliance solution," said Raj Sundaram, senior vice president, solutions and services group at DealerTrack. "The tool also includes the industry's first fully-automated mailing service and reporting capability, taking the burden of mailing and tracking off of the dealer."

DealerTrack also has enhanced its eMenu F&I product selling solution with the integration of a financial reporting tool that enables dealers to create customized reports. These reports will allow them to quickly analyze revenue and profit trends. The new functionality allows users to generate reports on revenue and profit performance by deal, product, employee or store, and can create side-by-side user and product comparisons with charts and graphs for trend analysis. This flexible reporting tool also supports reporting management for dealer groups with multiple locations.

"With this enhancement, eMenu becomes an even more powerful platform," said Sundaram. "The new reporting functionality will help dealers gain valuable insights into their sales process that can be leveraged to increase profits and F&I product sales. eMenu is a key component of our overall Compliance Solution, enabling dealers to present F&I product options fully and consistently to all customers, and to capture and store their signatures electronically."

The DealerTrack Compliance Solution is a comprehensive suite of compliance tools, allowing dealers to work deals electronically from end-to-end on one fully integrated and secure platform. In addition, DealerTrack has just published its 2009 "Compliance Guide," which is available free to dealers.

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