Profile: Dealertrack Technologies Inc (TRAK.OQ)

TRAK.OQ on NASDAQ Stock Exchange Global Select Market

22 Sep 2014
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Dealertrack Technologies, Inc. (Dealertrack), incorporated on August 10, 2001, is a holding company and conducts a substantial amounts of its business through its subsidiaries. The Company provides Web-based software solutions and services for all major segments of the automotive retail industry, including dealers, lenders, other equipment manufacturers (OEMs), third-party retailers, agents and aftermarket providers. Dealertrack operates an online credit application networks in the United States and Canada. The Company delivers solution set for automotive retailers, including Dealer Management solutions, Sales and F&I solutions, Inventory solutions, Processing solutions, Digital Retailing solutions and Interactive solutions. In March 2014, the Company acquired, provider of digital marketing solutions and services for the automotive retail industry. In July 2014, Dealertrack Technologies acquired substantially all of the assets of ASR Pro, a provider of Web-based electronic multipoint-inspection and fixed operations services for automotive dealerships.

Dealertrack’s subsidiaries include Dealertrack AAX, Inc., Dealertrack Aftermarket Services, Inc., Dealertrack Canada, Inc., Dealertrack Digital Services, Inc., Dealertrack, Inc., Dealertrack Processing Solutions, Inc., FDI Computer Consulting, Inc., General Systems Solutions, Inc. and Dealertrack Systems, Inc. On August 1, 2012, Dealertrack, Inc. purchased all of the issued and outstanding shares of capital stock of Dealertrack CentralDispatch. On October 1, 2012, Dealertrack, Inc. purchased all of the equity interests of ClickMotive, LLC. On November 1, 2012, Dealertrack Canada, Inc. acquired the assets of Ford Motor Company of Canada, Limited's iCONNECT Direct DMS business.

Dealer Management solutions provides independent and franchised dealers with a dealer management system (DMS) featuring easy-to-use tools and real-time data access. Sales and F&I solutions allows dealers to streamline the in-store and online sales processes as they structure deals from a single integrated platform. Inventory solutions delivers vehicle inventory management and transportation offerings. Processing solutions include online motor vehicle registration, lien and titling applications and services, and collateral management services. Digital Retailing solutions integrates advanced vehicle search, pricing and payment tools directly into a retailer’s Website. Interactive solutions delivers digital marketing and Website offerings. The Company's online credit application processing and electronic contracting products eliminate expensive and time-consuming inefficiencies in legacy paper systems, and thereby decrease lenders’ costs of originating loans or leases.

The Company's primary customers are dealers and lenders. The Company also does business with aftermarket providers, OEMs, and other service and information providers to the automotive retail industry. Dealertrack uses a Software-as-a-Service (SaaS) model. The Company’s subsidiary, Dealertrack Canada Inc., is a leading provider of on-demand credit application and contract processing services to the indirect automotive finance industry in Canada.

Dealer Management Solutions

The SaaS based system provides an open and secure platform that allows dealers to integrate and manage all of the primary functions of their store operations, including: vehicle sales, portfolio management, showroom management, service department, general ledger, automated dispatching, parts inventory and invoicing, electronic repair order, service price guides, vehicle inventory, contact management, payroll, and personnel management. The product offerings in this solution include Dealertrack DMS for Franchised Dealers and Dealertrack DMS for Independent Dealers. Dealertrack’s DMS Opentrack platform allows dealers to securely integrate their Dealertrack DMS with third-party software used within one’s dealership. Opentrack encompasses a range of third-party software providers of customer relationship management (CRM), inventory, desking, menu, multichannel marketing and service applications, among other applications.

Sales and F&I Solutions

Dealertrack's Sales and F&I solutions allow dealers to streamline the entire sales process as they structure deals from a single integrated platform, including its Compliance offering, which helps dealers meet legal and regulatory requirements. The Dealertrack Credit Application Network facilitates the online credit application process by enabling dealers to pull credit bureau data and transmit consumers’ credit application information to one or multiple lenders and obtain credit decisions. It offers each lender customer the option to provide other value-added services to dealers that facilitate the financing process, including dealer reserve statements, payoff quotes, prospect reports for consumers nearing the end of their current loan or lease, and reports of current financing rates and programs. BookOut allows a dealer to look up used automobile values by year/make/model or vehicle identification number for use in the credit application process. It offers separate BookOut subscriptions for data provided by Black Book, Kelley Blue Book and NADA. These products facilitate the financing process by providing dealers with reliable valuation information about the relevant automobile. BookOut is also a product offering in Inventory solutions.

Dealertrack’s Compliance solution provides dealers with a method to sign, store and protect customer and financing activity at the dealership. It also provides safeguards, such as limited access to sensitive information based on a user’s role and permission, as well as Red Flags and the United States Treasury’s Office of Foreign Assets Control (OFAC) compliance checks. The Company’s Dealertrack eContracting product allows dealers to obtain electronic signatures and transmit contracts and contract information electronically to lenders that participate in eContracting. DealTransfer permits dealers to transfer transaction information directly between select dealer management systems and its Dealertrack credit application network. CreditOnline allows visitors to a dealership’s Website to submit personal and credit application data online, which the dealer can then access by logging onto the Dealertrack credit application network. All credit application data completed online by the customer appears along with the information the dealer has entered, eliminating the need to re-enter personal information into the system when a customer arrives at the dealership.

SalesMaker is a desking system, which enables dealers to search hundreds of current lender programs in its database. SalesMaker also assists dealers in finding financing for consumers with low credit scores. Dealertrack eMenu allows dealers to consistently present consumers with the full array of insurance and other aftermarket product options they offer in a menu format. The product also creates an auditable record of the disclosures to consumers during the aftermarket sales process. Dealertrack eMenu is also a product offering utilized as part of the Dealertrack Compliance offering. The Dealertrack Aftermarket Network provides real-time aftermarket contract rating and quote generation from participating providers of aftermarket products. Categories of aftermarket products represented on the network include extended service contracts, Guaranteed Auto Protection (GAP), etch, credit, life and disability insurance, and vehicle recovery systems.

Inventory Solutions

Dealertrack's Inventory solution offerings provide vehicle inventory management, merchandising and transportation solutions. Dealertrack eCarList is an inventory management and distribution platform for the automotive retail market, enabling dealers to appraise, price and merchandise vehicle inventory online in real-time. Dealertrack AAX is a full-featured inventory optimization and analytics system. The solution also includes functionality to help a dealer appraise vehicles, source vehicles and access vehicle pricing recommendations, vehicle performance scores, as well as dealership transactional history. It is integrating Dealertrack eCarList and Dealertrack AAX into one inventory management suite in a phased process. Dealertrack TrueTarget is an advanced vehicle analytics Web service that delivers real time vehicle-related data from industry sites, including AutoTrader,, eBay Motors, and Carfax. In addition to a desktop version, TrueTarget Mobile is available for use with iOS and Android devices.

Dealertrack’s Web-based automobile transport network connects more than 6,000 automobile carriers in North America with dealers and other industry retailers to ship vehicles both nationally and internationally. jTracker is a Web-based CRM solution for managing automobile transportation projects and assignments for industry brokers. Dealertrack MoveCars is an online directory of car shippers and automobile transportation companies and resources.

Digital Retailing Solutions

Dealertrack Digital Retailing includes tools that allow visitors to dealerships’ Websites to find their right vehicle, review pricing and payment solutions in line with a dealership’s criteria, and capture finance leads for dealers. These are all designed to assist in streamlining the vehicle purchase process. Dealertrack’s Digital Retailing solutions can be embedded in third-party Websites and can also be included in dealer Websites. SmartFind is a Web service that uses search algorithms to return a ranked list of available vehicles in inventory, based upon a consumer’s specific search parameters, and perform robust comparisons of actual vehicles in inventory. PaymentDriver is a Web-based finance payment calculation service for automotive retail portals and Websites, giving consumers the ability to generate monthly payments for specific vehicles based on the most current finance rates and residual data available from a dealership’s finance partners. FinanceDriver is a Web service that allows automotive retailers to provide financing services to consumers during the vehicle research process, including the ability to complete a credit application online.

Interactive Solutions

Dealertrack Interactive delivers digital marketing tools and solutions, such as desktop and mobile Website design, search engine optimization (SEO), search engine marketing (SEM), and social media and management tools. The Interactive product offerings include Web, Mobile, Search and Social. The Website functions as a portal to deliver inventory, advertising, incentives, and various other vehicle related information to the consumer.

Processing Solutions

Dealertrack’s Processing solutions include electronic motor vehicle registration and titling applications, paper title processing and storage, and digital document services. Dealertrack Online Registration System (OLRS) is a software-assisted service that provides a do-it-yourself version of department of motor vehicle processing for dealers. The service, which allows for online, real-time motor vehicle registration and/or titling directly from an authorized retailer’s office is available in the following states: California, Connecticut, Georgia, Illinois, Indiana, Maryland, Massachusetts, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Virginia and Wisconsin. Dealertrack RegUSA is a way to handle cross-border vehicle transactions for all 50 states. eRegUSA is an extension of this core service offering, and provides subscription-based services for estimating state motor vehicle fees and sales tax and electronically populating many motor vehicle forms.

The Dealertrack Electronic Lien & Title (ELT) concept allows its customers to place, monitor and release liens on vehicles in their portfolio, in certain ELT eligible states. Dealertrack’s ELT offering can be implemented as a standalone solution or as part of a single integrated platform with the Dealertrack Title and Collateral Administration offering and services. Dealertrack’s Title and Collateral Administration is a title management solution that includes lien perfection monitoring, paper and electronic title management, imaging and storage of paper titles, and discrepancy identification. Its Dealertrack eDocs digital contract processing service receives paper-based contracts from dealers, digitizes the contracts and submits them electronically to the appropriate lender. Services also include data entry and data verification.

The Company competes with AppOne, CUDL, Finance Express, Open Dealer Exchange, RouteOne, BMW Financial Services, Volkswagen Credit, ADP, Inc., Auto/Mate Dealership Systems, AutoSoft, Inc., The Reynolds and Reynolds Company, eLEAD, First Look, LLC, Red Bumper LLC, vAuto, Inc., vinSolutions, Cobalt,, Naked Lime, Assurant, PDP Group, AVRS, CVR, ELS, MVSC, TitleTec, Market Scan Information Systems, Inc., MenuVantage, the StoneEagle Group, uShip, Openlane Transport/CarsArrive Network, and Ready Auto Transport/

Company Address

Dealertrack Technologies Inc

P: +1516.7343600
F: +1302.6555049

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