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MenuVantage (www.menuvantage.com), the market’s premier web-based menu selling system, today announced that since going to market in the third quarter of 2004, the company has quickly expanded and just recently achieved a major milestone of $1.5 billion in F&I product sales for it auto dealer clients.
Orlando, Florida (PRWEB) August 18, 2008 -- MenuVantage (www.menuvantage.com), the market’s premier web-based menu selling system, today announced that since going to market in the third quarter of 2004, the company has quickly expanded and just recently achieved a major milestone of $1.5 billion in F&I product sales for it auto dealer clients.
"Dealers using our software on average see $903 per unit compared to $633 per unit without the system - a 30% increase in revenue and a total of $450 million in additional gross for dealers over the past four years," commented Phillip Battista, MenuVantage Co-CEO. "The continued growth of MenuVantage due to the number of dealerships and providers using our platform is proof positive of the power of our software and how well our technology is actively working in the market today. Moving forward we will continue to grow by adding dealerships and providers, as well as complementary products and services," Battista added.
MenuVantage attributes its success to its state-of-the-art technology, including the highly successful Provider Exchange Network (PEN), which streamlines the F&I process by providing auto dealers with direct integration to over 60 providers. PEN enables electronic signature and e-contracting for any provider’s entire set of F&I products, and significantly streamlines the F& I process for auto dealership customers nationwide. Auto dealers can submit consumer service contracts electronically, reduce errors in contracting and greatly reduce the amount of time spent in the F&I Office while maintaining an electronic record for seven years.
As well MenuVantage has formed key strategic partners and is the exclusive F&I menu selling software platform for ADP under the w.e.bMenu brand, for GMAC under the IntelliMenu brand and for American Financial Automotive Services under the MasterMenu brand. Additionally MenuVantage services more than 50% of the top 20 dealer groups in the nation.
MenuVantage has seen a strong increase in market presence and currently processes more than 100,000 deals per month for over 9,000 users at automotive dealerships in all 50 states nationwide as well as Puerto Rico and Canada.
About MenuVantage
MenuVantage, based in Orlando, Florida, provides automotive dealers with best in class F&I tools to ensure compliance and increased per unit profit. The MenuVantage system offers F&I departments the most advanced technology available on the market today to increase F&I sales. It is also capable of the electronic submission of warranty and F&I products to providers, real time service contract rating, and the electronic contracting and signature. Founded in 2003, MenuVantage has enjoyed tremendous growth and currently services more than 9,000 users at automotive dealerships in all 50 states nationwide, Canada and Peurto Rico, processing more than 100,000 deals per month.
MenuVantage has developed a system that not only assists dealers in the F&I office, but also providers with contract administration making the system a truly end-to-end business solution. Over 60 providers currently enjoy the benefits of the MenuVantage platform including , Service Payment Plan (SPP), A.U.L Corporation, LOTS, Cal-Tex Protective Coatings, SouthwestRe, CNA National, EasyCare, GE, American Financial Automotive Services, and Safeguard. MenuVantage can be reached on the web at www.menuvantage.com.
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