DAYTON, Ohio, March 23, 2018 /PRNewswire/ -- The Reynolds and Reynolds Company and Hendrick Automotive Group today announced that the Reynolds docuPAD® system will be installed in all dealership F&I departments throughout the company by mid-July.
Overall, Reynolds will install more than 350 docuPAD system workstations in the 96 Hendrick Automotive Group dealerships, with a large portion of those installations already having occurred. Headquartered in Charlotte, North Carolina, Hendrick Automotive Group will be the largest single user of the docuPAD system in the United States.
"The docuPAD system has proven itself everywhere it's been installed," said Bob Brockman, chairman and CEO of Reynolds. "I've always admired Hendrick Automotive Group as disciplined and well run. Adding the docuPAD system to their F&I functions will help them take another step forward in the efficiency and effectiveness of their operations and in generating better financial returns in F&I."
Installing the docuPAD system also enables Hendrick Automotive Group stores to adopt Reynolds eWorkflow, an end-to-end digital solution for creating and processing a deal and securing funding using eContracting. Hendrick Automotive Group dealerships are already using electronic deal jackets and eliminating the stacks of paper that go to the accounting office, the lender, and the consumer.
Reynolds eWorkflow also improves dealership cash flow by cutting contracts-in-transit time and facilitating faster funding of deals. Additionally, it reduces document storage costs.
"The people at Reynolds are true partners who share many of our company's core values," said Rick Hendrick, chairman of Hendrick Automotive Group. "Continuous improvement has been a long-standing focus for our company. The combination of Reynolds' leading technologies and close working relationship with our team members is helping our dealerships take care of a whole new generation of customers."
The Reynolds docuPAD system is well established in dealerships across the automotive industry as an effective way to increase financial returns in F&I offices, while also reducing errors in the F&I process and safeguarding a dealer's compliance efforts. At that same time, the docuPAD system completely changes the consumer experience in F&I.
"Reynolds is working with our dealerships on becoming more efficient, helping reduce storage costs, and simplifying compliance needs," said Robert Taylor, vice president of Hendrick Automotive Group Information Technology. "These new technology platforms are also fully interactive and allow our team members and customers to go seamlessly through an interactive F&I process. They are interchangeable, giving our individual F&I departments the ability to customize the process, fit the needs of their customers, and improve the overall dealership experience."
Dealerships across the industry last year closed approximately 1.6 million vehicle sales using the Reynolds docuPAD system, an increase of more than 30 percent over 2016. On average, those dealerships also realized increased gross profit in F&I operations. Looking ahead, Reynolds projects that 2 million vehicle sales will be closed through the docuPAD system in 2018.
"All of us at Reynolds are extremely proud to work with the people across Hendrick Automotive Group," Brockman said. "We recognize that their customers expect a rewarding, convenient, and efficient experience. We believe the new solutions we're providing will help every Hendrick Automotive Group store deliver that experience more effectively and profitably."
For the past 10 years, Reynolds has invested steadily in developing the products and services that will help dealers become better retailers and meet head-on the retailing challenges in the rapidly changing automotive industry.
All Reynolds products are built on a shared platform to enable them to function as a complete Retail Management System.
About Reynolds and Reynolds
Reynolds and Reynolds is a leading provider of automobile dealership software, services, and forms to help dealerships deliver better business results and transform the customer experience. The privately held company is headquartered in Dayton, Ohio, with major U.S. operations in Houston and College Station, Texas, and Celina, Ohio, as well as operations in Canada, in the U.K., and Europe. (www.reyrey.com)
About Hendrick Automotive Group
Encompassing 96 dealerships from the Carolinas to California, Hendrick Automotive Group is the largest privately held automotive retail organization in the United States. Headquartered in Charlotte, North Carolina, the company employs more than 10,000 people in its dealerships, collision centers and accessories distributor installers in 14 states. For more information, please visit www.HendrickAuto.com.
SOURCE The Reynolds and Reynolds Company