Clifton Park, N.Y. — Auto/Mate Dealership Systems, software designed by car people for car people as the most user friendly and cost effective, announced the release of a new F&I system. The new module is offered as part of Auto/Mate’s AMPS (Automated Management Productivity Suite) dealership management software. The new F&I system integrates the details of sales and F&I deals with accounting in a seamless manner, saving time and money by eliminating the need for manual follow up in the accounting department, and improving reporting capabilities.
“The growing number of rebates, incentives, fees, service contracts, warranties and accessories attached to a single deal has created a challenge for many dealers,” said Mike Esposito, president and CEO of Auto/Mate. “Most F&I systems do not have the capacity to track the details of multiple items associated with a single sale, so they are typically combined into a lump sum in a single line with inconsistent entry details.”
The new F&I system solves this problem by offering multiple fields for each category. Users can assign up to 10 rebates and 20 fees to every deal, as well as numerous choices for incentives, service contracts, maintenance contracts, warranties, accessories and more. This results in more comprehensive and detailed information being available to the accounting, sales and F&I departments, as well as vastly improving reporting capabilities.
Roxanne Bendino, controller for Clifton Park Dodge, has been using the pilot version of the new F&I system for just over a month.
“Previously, we had to manually break out lump sums that were in each category, such as rebates, and find out which rebates were given and what the amounts were so we could post them and track them properly,” said Bendino. “Now the information is all there in the system. User-definable fields and drop-down menus make it easy for sales and F&I to enter in all the details in a consistent manner. This saves us a lot of time. Auto/Mate did a fantastic job with this new release.”
In large dealerships with hundreds of car sales every month, eliminating the manual tasks associated with following up on F&I deals could result in literally hundreds of hours saved in the accounting, sales and F&I departments. Improved reporting allows office managers to drill down into the details of which types of rebates, fees, incentives, contracts and accessories are being offered the most, which aids in forecasting and sales decisions.
Auto/Mate’s new F&I system is available now. All current AMPS customers will receive the upgraded system at no cost.