ProMax Dealer Updates

ProMax Version Release 2017.5.17.2 - May 18, 2017

Introducing the Manager's Dashboard

in ProMax Mobile

We added a new Mobile Manager's Dashboard that enables managers to track a number of important things from any smartphone or mobile device:

It's essentially a slimmed-down version of the Manager's Dashboard in ProMax. Now you can keep an eye on Appointments, Showroom Traffic, Internet Leads, and Inventory from anywhere. Any employee configured as a Manager in ProMax will have "Dashboard" as a menu option going forward. Report data is available in 31-day increments.

  

Other Changes and Fixes in This Version

• Are you using our new Vehicle Recall solution yet? It gives you access to vehicle recall data with just the click of a button. This week we added a new Open Recall Report under the Inventory tab. This report displays all vehicles with Open Recalls that have had a check performed in the last 90 days. We also included a "Trade Recalls" column on the Compliance Review Report that notates whether a customer has a trade with any Open Recalls.  [Items 360309 & 360311]
• We enhanced the 3rd party DMS deal integrations to include a VIN match if no Stock # is found when attempting to match a sold unit on an incoming deal to an existing delivery in ProMax.  [Item 376015]
• We fixed an issue with incoming RCI vehicle data that was preventing New/Used status from being updated.  [Item 374556]
• We added the ability to mark Recalls that have been Dealer Remedied or have a Remedy in Process.  [Item 360310]
• We fixed a bug that sometimes duplicate "Trade 1" information onto "Trade 2" during delivery unwinds.  [Item 371859]
• We updated the DT DMS lease deal export to utilize the upfront and capitalized cash and rebate values for more precise allocation of cash and rebate data in DT DMS.  [Item 364213]
• We corrected an issue with inbound email messages being attached to a customer record when a dealership employee was also listed as a customer and had used the same email address.  [Item 339959]
• We fixed an issue that was preventing a note being created when a stip was edited and then checked or unchecked.  [Item 378069]
• We fixed an rounding issue with Adjusted Capitalized Cost that could lead to a one cent discrepancy.  [Item 362445]

 

Why Your Dealership Needs to be Using Income Verification

John Palmer, ProMax CEO

The Employment and Income Verification Service, powered by Equifax, is a great new tool in ProMax. Before I get into the details of how it works, let me begin by giving you some numbers. These all come from a study Equifax conducted on customers applying for credit to buy a vehicle:

• Approximately 27% of applicants overstate their income by more than 15%

Customers overstating their income by a little; potentially not that big of an issue. This certainly could affect the terms of the deal, but not necessarily. How about the inverse?

• Approximately 20% of applicants understate income by 10% or more.

Customers understating their income by a little. This could affect payment which in turn could land them on a vehicle they are less excited about. 

Finally, consider this number:

• Approximately 15% of applicants overstate income by 50% or more.

Clearly, that is significant. There's a good chance that could unwind a deal after work has been put in. It could mean an unhappy customer and/or salesperson. Submitting with inaccurate income or job information could potentially damage your relationship with the lender. 

That's where the Employment and Income Verification Service comes in. You can't be sure you're offering the right deal to a customer when you don't have accurate employment and income data. Backed by a database of over 6,000 employers contracted exclusively through Equifax, EIVS provides invaluable data and reduces your dealership’s risk.

Earlier this year we beta tested the Employment and Income Verification Service with 100 auto dealers running the gamut from small independent lots to large franchise stores, and results were overwhelmingly positive. Dealers reported that EIVS had several benefits and no downside:

EIVS is easy-to-use, quick, and seamless

Employment and Income Verification data is available at the click of a button and fits easily into the sales process. The data is concise and clearly laid out for the salesperson. Equifax’s blog recently featured a great post about the value of data in a consumer-centered approach which works to the benefit of you and your customer.

EIVS instantly verifies employment and income information without difficult conversations

About 30% of the time, you will instantly have everything you need to submit. No painful income interviews or back-and-forth trying to pin down exact income with overtime, bonuses, etc. that takes the focus off the exciting elements of car buying. EIVS enables you to skip this process entirely with a good chunk of your customers and keep the focus off money questions that make some customers uncomfortable.

EIVS leads to more and better deals

Simply put, whether you use it up front with every customer or just as a backup for customers who don’t have paystub information or a W-2, EIVS makes it easier to get the right deal. Not only does it reduce renegotiations and strengthen lender relationships, it increases efficiency and decreases your risk; and I think all dealers could agree, there’s no downside to that.

Memorial Day Special Offer!

 

Call 888-804-4413

or email [email protected]

TODAY

to take advantage of this special offer!

 

 

ProMax Version Release 2017.5.1.1 - May 2, 2017

Insert Image Links into Text Messages

We've added a great new feature that makes it easy to add photos to texts sent from ProMax Mobile.

When you go to send a text from ProMax Mobile you'll notice a new "Insert Photo" button:

 

Click the button and you are given the choice of inserting a Stock # or choosing a photo you already have in your stored images (the same ones you would use to insert photos in an email).

Choose the photo or Stock # and select "Insert", and a shortened hyperlink will appear in the message box. All the customer has to do is tap the link to display the photo you've chosen. It's easy!

 

EIV Invoice Detail Report

Is your dealership using the new Employment and Income Verification Service (EIVS) yet? Powered by Equifax, EIVS provides valuable employment and income data that enables you to make better deals for you and your customer.

We recently added the EIV Invoice Detail Report in ProMax and ProMax Mobile to help you track usage.

For more information about this great new service, or to get signed up, contact your Dealer Support Specialist at 844-322-9034.

 

Other Changes & Fixes in this Version

• We updated Texting service so that the 'From' phone number remains the same when a customer is transferred to another dealership.  [Item 372696]
• We enhanced the Autosoft integration to filter incoming inventory based on cost.  [Item 371098]
• We updated all DMS integrations to match incoming deals based on sold VIN in addition to the sold stock #.  [Item 369422] 
• We fixed a bug on the Inventory screen that was not saving changes to the "Show on Internet" checkbox on a used vehicle if that was the only change made at that time.  [Item 349811]
• We added a Desking option to "Default Trade Stock Numbers".  [Item 368832]
• We updated the CDK integration to expand the imported deal wholesale criteria.  [Item 371403]
• We corrected a display issue that could occur with the Multi Option Proposal when accessed from the Buy Lease Worksheet.  [Item 372688]
• We added Forms variables for individual Aftermarket Tax Rates 1-10.  [Item 299562]
• We fixed a time zone bug that was affecting some dealers' Lead Sheet notes.  [Item 374267]