LA CROSSE, Wis., Sept. 21, 2016 /PRNewswire/ -- DealerVault, the first-ever cloud-based system allowing automotive retailers control over how their customer data is stored and used, today announced it now has 5,519 dealer customers and 450 vendor partners as the company celebrates its third anniversary.
Formed in 2013 by Authenticom CEO Steve Cottrell, DealerVault provides low-cost, highly reliable data security for automotive retailers. DealerVault offers its customers an alternative to current automotive retail dealership management system providers, who often charge a fee to each third-party vendor every time a dealer wants to access their own customer data.
Ownership of automotive customer data continues to be a hot-button issue in the industry. The "Dealership Data Goldmine" as it is often called, is projected to reach as high as $2 billion in just two years. That's more than $100,000 per franchised dealer annually in additional costs. Major DMS providers' additional data use fees support their own revenue growth, but drive up costs for dealers and their third-party vendors.
DealerVault offers a market driven approach that allows automotive retailers to control their own data and keep their costs down. The company offers standardized pricing of $25 per month for a single nightly data feed or $50 per month for two or more nightly data feeds.
"Fundamentally, we have always believed that auto dealers own their customer data," Cottrell said. "Why, then, should a DMS provider charge a fee each time one of the dealership's vendors needs access to their own data? With DealerVault, we offer a reasonable fee for security and visibility into how customer data is used. Obviously, it's resonating with dealers and vendors alike, as we continue to experience explosive growth."
DealerVault has invested heavily in data security by leveraging Microsoft's most secure cloud-based solution, Azure. In addition, DealerVault's easy-to-use web platform allows its customers to quickly and easily view and modify current data feeds, check the status of its ongoing vendor projects, disable access when needed and manage multiple stores with the simple click of a button.
DealerVault's system is free to dealers. Third-party vendors are charged a fee to become a DealerVault vendor that is a fraction of what DMS providers charge.
"DealerVault has made significant investments in making sure our platform is secure, easy to use and cost-effective," Cottrell said. "It is built with the dealer in mind. Our philosophy – we will only grow our business by making sure our customers grow their business's first! As the importance of customer data continues to expand in the industry, we look forward to working with our dealers and their third-party vendors to deliver exceptional security and customer service."
DealerVault, based in La Crosse, Wisc., is a privately held company launched in 2013 by Authenticom CEO Steve Cottrell. DealerVault is the first cloud-based system designed to empower dealerships with control over the syndication and distribution of their DMS data. Its easy to use, Web-based platform allows dealerships to quickly set up, view, and modify DMS data feeds. DealerVault provides dealerships with a solution to all pressing issues including security, compliance, and indemnification.
www.dealervault.com, (877) 834-2451
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dealervault-celebrates-third-anniversary-now-has-5519-dealer-customers-450-vendor-partners-300331872.html