Tekion DMS and Dealertrack F&I Launch New Digital Contracting Integration

SAN RAMON, Calif. and NORTH HILLS, N.Y., June 22, 2021 /PRNewswire/ -- Dealertrack F&I and Tekion today announced the launch of a new Digital Contracting integration between the two platforms that allows users to deliver an improved digital car buying experience. Dealerships using Tekion's Automotive Retail Cloud platform will now be able to complete the entire deal process digitally in one system – providing greater ease with less effort.

"Seamless integration between systems is so important in today's automotive retail environment," said Guru Sankararaman, CFO and VP of Operations at Tekion. "We're happy to work with Dealertrack F&I to improve the buying experience and increase operational efficiency for dealers."

Systems lacking integrations cause inefficiencies that can hamper a dealership's profitability. Disconnected systems too often require dealership staff to manually input customer and deal information multiple times, creating a longer process to electronically contract.

With this new integration, dealerships can now provide customers with a frictionless online and in-store purchasing experience. Retailers are able to save time and cut down on manual paperwork – from credit application to contract submission, including the ability to remotely sign paperwork.

"Dealertrack is dedicated to open integration because streamlined digital workflows are essential to today's online car shopping experience for retailers and buyers alike," said Kait Gavin, Vice President of Dealer Services, Dealertrack F&I Solutions. "Together, Dealertrack F&I and Tekion can enable more dealerships who are looking to stay ahead of the competition."

Importantly, the new Digital Contracting process complements the Digital Retailing integrations available to Tekion that can provide dealerships with all the tools needed for a fully online car buying experience.  75% of all digital contracting deals during May 2021 utilized DMS integrations to import deal data into their F&I workflow.  (Source: Dealertrack data: May 2021)

For more information on Dealertrack Digital Contracting and the integration features, click here.

About Tekion
Tekion provides the world's best business applications on the cloud and is currently focused on transforming the automotive industry. Its cloud-native platform brings the entire consumer, and OEM-Dealer ecosystem together by seamlessly connecting every part of the automotive retail journey through its comprehensive Automotive Retail Cloud. Tekion inherently uses cutting-edge technologies to bring modern consumer experiences to life including IoT and ML/AI. Born in California's Silicon Valley, Tekion employs over 1,000 innovators globally. For more information visit https://www.tekion.com/.

About Dealertrack
Dealertrack provides industry-leading software solutions that give dealerships, lenders, and partners the confidence to thrive in an ever-changing automotive market. The company's integrated suite of powerful easy-to-use products and services helps dealerships and their lending partners grow by increasing efficiency and improving decision-making. Dealertrack is part of the Cox Automotive family, a company that is transforming the way the world buys, sells, owns and uses cars. Dealertrack—along with its unmatched network of dealership and lending partners—is improving the car buying experience by embracing the technologies that will shape the future of automotive retail. For more information about Dealertrack, visit www.dealertrack.com. 

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader^®, Dealer.com^®, Dealertrack^®, Dickinson Fleet Services, Kelley Blue Book^®, Manheim^®, NextGear Capital^®, VinSolutions^®, vAuto^® and Xtime^®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com 

SOURCE Dealertrack; Tekion