DAYTON, Ohio, Feb. 23, 2016 /PRNewswire/ -- Reynolds and Reynolds, a leading provider of automotive dealership software, documents, and professional services, today announced the company has acquired ReverseRisk, a Web-based analytics reporting platform for automotive retailers. ReverseRisk delivers critical business information and analytics to dealers, providing detailed insights into dealership performance and operating results.
"Dealers I speak with consistently point out that one of the biggest challenges they face is how to identify the right information at the right time to continually optimize their dealership's performance," said Robert Burnett, senior vice president for Business Development and Acquisitions at Reynolds. "That's what ReverseRisk delivers. It's intelligent, timely business information and analytics at a dealer's fingertips – smarter, faster, better – that can lead to improved operating results and dealership performance."
As a Web-based tool, ReverseRisk is available anytime and anywhere, on any device that has an Internet connection. Additionally, the ReverseRisk reporting platform allows information to be shared easily with dealership management, putting them in the best position to achieve the dealership's objectives.
Burnett also referenced a recent report issued by McKinsey & Company and NADA that concluded a dealership's operating practices are the biggest driver to dealer profitability and in separating top-tier dealerships from average dealerships.1
"ReverseRisk's business analytics and 'what-if' scenarios deliver the type of business information and management guidance that tie directly to improved operating practices for dealerships and improved performance," Burnett said.
One Tool; One Snapshot.
As a single, comprehensive reporting platform, ReverseRisk eliminates the need for dealership managers to use multiple reporting systems in order to gain a complete picture of their operations. It also eliminates the time managers typically spend aggregating information from multiple dealerships, systems, and reports.
"In the same way that Apple's technology ecosystem is easy to use but incredibly sophisticated, ReverseRisk is an easy-to-use reporting platform with the sophistication behind the scenes," Burnett said. "For single- and multi-point dealerships, ReverseRisk delivers complete control of their data and provides usable, relevant information for ongoing operating improvements."
The recent trend of dealership consolidations in the industry also places more importance on the type of reporting ReverseRisk delivers, which enables managers to quickly identify the right business information and insights needed for decisions that help achieve the best operating performance in each store, as well as across the entire group.
"This is an exciting day for our product and our team as we join Reynolds and Reynolds," said David Spisak, one of ReverseRisk's co-founders and president. "Being part of a company with the proven innovation and product development prowess of Reynolds will be a tremendous advantage for ReverseRisk and for our customers. We look forward to continuing to serve and support our current ReverseRisk customers and to adding new customers working with Reynolds."
ReverseRisk will be added as part of the Reynolds Retail Management System portfolio of solutions. Separately, ReverseRisk established a partnership in 2012 with NCM® Associates, Inc., for NCM to resell the product under the NCM axcessa® name to its automotive customers. That partnership will continue after the Reynolds acquisition.
The ReverseRisk reporting platform can be used by dealerships regardless of the DMS a dealership operates on, which is the case across the ReverseRisk customer base today.
Burnett concluded: "When we combine this reporting tool with the breadth of products built on Reynolds Retail Management System platform, we can offer an unmatched set of tools and services that dealers can use to deliver more efficient and profitable operations, coupled with a more rewarding, engaging consumer experience. It's one more way for a dealership to gain a competitive advantage."
The Presidio Group acted as financial advisor to ReverseRisk in the transaction.
Terms of the purchase were not disclosed.
Reynolds and Reynolds is a leading provider of automobile dealership software, documents, and services to help dealerships deliver better business results and transform the customer experience. The company is headquartered in Dayton, Ohio, with major operations in Houston and College Station, Texas, and Celina, Ohio. (www.reyrey.com)
ReverseRisk was founded in 2008 with the mission to enable car dealers and their management teams to fully leverage the data in their dealership management system (DMS). That includes data aggregation across front-end, back-end, and accounting systems and across multiple stores in near-real time and providing users with a clear competitive advantage, shifting the focus from reactive to active.
NCM Associates, Inc., is the originator of the automotive industry 20 Group peer collaboration process and provides dealership Benchmark analytical data, education, and consulting services to the automotive sector in the U.S. and Canada, as well as to other industries.
1 "Fast Forward: How U.S. auto dealers can drive sustainable economic performance in the digital age," McKinsey & Company (in cooperation with the National Automobile Dealers Association), April 2015.
SOURCE The Reynolds and Reynolds Company