SAN DIEGO, Aug. 3, 2016 /PRNewswire/ -- i3 Brands, a leading provider of sales and productivity solutions, data and analytics that connect leading manufacturers to the customer journey, and Snap-on Business Solutions (SBS), a business unit of Snap-on Incorporated, will integrate i3 Brands' signature PartProtection platform into the SBS ecosystem.
PartProtection created the industry's first point-of-sale for providing extended coverage service contracts in the automotive genuine parts industry. Exclusively available to car dealers selling Original Equipment Manufacturer (OEM) parts, PartProtection has a certified interface with the top Dealer Management Systems (DMS) and is improving service experiences in franchised dealerships across the country.
"We are thrilled to work with i3 Brands on this new endeavor," said David Foutz, Vice President of Sales and Marketing at SBS. "This integration will provide our OEM dealership customers with unprecedented access to coverage and extended service contracts on all eligible OEM parts and service. In addition to opening up new revenue streams for dealerships, this will improve customer retention and deliver real value to consumers. By working together, SBS and i3 Brands can help dealers extend these offerings to parts wholesale customers as well."
PartProtection will be embedded directly into SBS's electronic parts catalog (EPC), allowing for seamless look-up and immediate identification of extended warranty or service contract opportunities on all eligible OEM parts. Franchise dealerships and other OEM customers will then be able to provide consumers with an additional two years of coverage beyond manufacturer warranties with unlimited miles. Used as a retention tool, the majority of policies are redeemed at the dealership of origin further maintaining a long lasting relationship between franchised dealerships and their parts and service customers.
"This is an exciting opportunity for i3 Brands," said Michael Lucas, CEO of i3 Brands. "The integration of these world-class technologies will enable i3 Brands to help SBS enhance its strong relationships within the dealership network and increase coverage of OEM parts sold by the shop owners and managers. Making enhanced warranties more affordable and accessible to repair shops and consumers is a central component of this partnership."
"OEM maintenance has a powerful impact on customer retention for dealerships and repair facilities," stated Shawn Lucas, CTO of i3 Brands. "Studies show that 78% of dealership revenue is lost when an owner's car warranty expires and they go elsewhere for aftermarket repairs—that's a huge opportunity for OEM part providers considering 86% of cars on the road today are out of warranty. By joining forces with SBS, dealerships and repair facilities alike will be able to tackle this market opportunity head on."
i3 Brands is a technology based corporation specializing in software and data-driven solutions for major manufacturers in several verticals to bolster sales, improve efficiencies and increase customer engagement. Capitalizing on the complementary strengths of each entity, i3 Brands has an especially strong presence in the automotive industry through TradeMotion's dealership base; Part.com's retail consumers; and PartProtection's value to franchise dealerships and independent repair facilities.
About Snap-on Business Solutions
Snap-on Business Solutions, a division of Snap-on Incorporated, is based in Richfield, Ohio with offices and associates around the world. Snap-on Business Solutions is focused on helping vehicle and equipment manufacturers and their dealership networks increase sales, reduce structural costs, and improve customer experiences. Snap-on Business Solutions designs information tools that center on improving productivity in franchised dealerships and the supply chain.
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SOURCE i3 Brands