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IDMS

The Right Fit: Measuring DMS Effectiveness

As an Independent/BHPH dealer, you know how important it is to exceed your customers’ expectations and provide the best customer experience possible. And just like your customers, your employees expect this same positive experience from your software vendors. Download this e-book today to learn where your DMS is falling short and how a more intuitive partner can help your business.

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Key Takeaways

  • Identify where your current dealership management system might be falling short
  • Examine the specific DMS must-haves by job function
  • Create a clear path toward making your entire operation more seamless

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IDMS

5 Red Flags Every Independent Dealer Should Watch For

Have you recently conducted a thorough assessment of your current technology vendors and processes? Download this e-book today to discover what red flags you might be seeing in your dealership and how to eliminate them.

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Key Takeaways

  • Identify where your current dealership management system might be falling short
  • Learn the impact outdated processes have on productivity and your customer experience
  • Understand the benefits of upgrading your operation with a DMS built around your business

Download the E-Book

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Your copy of "5 Red Flags Every Independent Dealer Should Watch For" is waiting for you. Click on the button below to check it out.

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ARLINGTON, Texas, June 9, 2020 — Agora Data, Inc. (Agora), a provider of data, analytics and liquidity solutions for the buy-here, pay-here segment of the automotive industry, announces its integration with DealerSocket’s web-based IDMS. This integration will increase dealer visibility into portfolio and loan performance, as well as create access to much-needed capital and cashflow. The addition of DealerSocket further expands the number of Agora integrated DMS partnerships.

“Access to reliable analytics is the difference between success and failure in today’s market,” stated Agora founder and CEO Steve Burke. “Trying to run a business without all of the information is like trying to build a puzzle without knowing what the picture is — it’s possible, but far more difficult.”

AgoraInsights is Agora’s first of its kind portfolio and loan valuation analytics. It empowers BHPH dealers to manage more effectively their most significant asset, their loan portfolio, and confidently manage liquidity negotiations. By combining this technology with DealerSocket’s innovative IDMS, dealers will now have a more holistic picture and greater control of their business operations.

Historically, auto dealers have relied on “book value” guides to buy and sell vehicles. Now, BHPH dealers can leverage AgoraInsights to understand the current value of their loans. Additionally, they gain the ability to compare their underwriting strategies with their industry peers through Agora’s benchmarking analytics.

“The partnership with Agora’s Insights platform provides incredible opportunities for our dealers to be empowered to better manage their business. More importantly, they gain access to capital through various finance channels,” said Jeff McCurry, DealerSocket’s vice president of product. “Agora’s program is one of a kind and is an exciting addition to the IDMS platform.”

About Agora Data, Inc.
Founded by industry veterans, Agora Data, Inc. is an Arlington, Texas-based developer of AI-infused financial services software and solutions. Agora was launched in 2017 to improve the lives of every BHPH dealer in the industry, providing access to actionable industry information, robust portfolio analytics, and a reliable source of liquidity/capital. Agora has empowered a community of thousands of BHPH dealers across the nation. Visit AgoraData.com for more information.

Coast to Coast Motors, which operates seven buy-here, pay-here (BHPH) locations in the Houston, Oklahoma City, and Tulsa areas, was a Finance Express (FEX) holdover until making the switch to DealerSocket’s IDMS three years ago. In May, the 30-year-old, family-owned operation recorded one of its best months ever.

As CFO of Coast to Coast, Travis Allison leans heavily on IDMS’s reporting capabilities to accurately assess the group’s performance and month-to-date collections. He says the ability to delve deeper into the behind-the-scenes aspects of the multi-rooftop operation is IDMS’s biggest advantage.

“I rely on IDMS’s API to transfer a massive amount of data from IDMS to our third-party data software, so the ability to tap into IDMS remotely behind the scenes has been a huge benefit to me,” Allison notes.

Coast to Coast’s employees especially benefit from the system’s ease of use, robust training, and dependability. Allison also credits DealerSocket’s exemplary customer service and personal touch for the group’s strong partnership with the software provider.

“Having a great product is one thing, but I also need customer service when it comes to my software vendors,” Allison says. “I work with our Customer Success Manager, Anthony Wright, all the time, and he’s always willing to pick up the phone when we need assistance and help us move the needle when it comes to the level of integration and connectivity we need.”

Allison wasn’t around during the FEX days, but he says his team considers IDMS a huge upgrade. That’s why he encourages other independent and BHPH dealers on FEX DMS to consider making the same switch.

“For dealers looking for a dealership management system that coordinates their service, their collections, and their sales all in one area, IDMS is definitely the way to go,” Allison says. “It allows us to have an omnichannel approach to our business, and if your DMS can’t provide that, you ought to look at IDMS.”

Discovery Auto Sales is a single-point, buy-here, pay-here (BHPH) dealership located in Austin, Texas. The dealerships recently made the switch to DealerSocket’s IDMS from Finance Express last year. Since taking the leap, Discovery Auto Sales has leaned heavily on IDMS’s Account Management product to drive its collections process. 

As the General Manager of Zeus Financial Services — the dealership’s in-house finance company — Angela Paez needs a software system that makes her collectors’ job easier and provides the data she needs to assess performance. To that end, Paez puts her trust and reliance in IDMS. 

“We use IDMS to generate a bunch of reports on a weekly and daily basis to look for various trends, track the percentage of delinquent payments, and calculate commissions for the collectors,” Paez says 

She also notes that IDMS’s integration with Sigma Payment Solutions has made it much easier for the dealership to collect payments and provide more flexible payment options to customers. “It’s enabled our customers to make a payment via text or on our website without our collectors having to be a middleman,” Paez says. 

This capability was particularly beneficial to Discovery Auto Sales and Zeus Financial during the peak of the COVID-19 pandemic. Though its doors were closed to the public, payments kept coming in. 

“That was something that gave me a lot of peace of mind,” Paez says. “I didn’t have to have a collector sitting in a chair just to take payments. Our customers were able to make payments on their own, and we were still able to generate revenue for the company.” 

The success the dealership and its finance company experienced during the first year on IDMS is why Paez encourages other dealerships in her 20 Group to make the switch.  

“All of the information that’s available within the system can be overwhelming at first,” she says. “But you get used to it quickly. IDMS is a worthy investment for any BHPH dealer looking to simplify their collections process.”