Tag Archive | "Jim Maxim Jr."

For Third Year, Dealers Vote MaximTrak Dealers’ Choice Award Winner


WAYNE, Penn. – MaximTrak Technologies, international F&I platform provider and technology partner for top names in the industry, has once again been named a Dealers’ Choice Award winner by the readers of Auto Dealer Today magazine, a sister publication of F&I and Showroom.

To vote, dealers and dealership personnel needed to write in providers’ names and then score them on the product or service itself. Scoring also pertained to customer support and service, value, and whether the user would recommend the company to another dealer.

“Regular readers of Auto Dealer Today voted MaximTrak as a best-in-class technology provider in our space – for the third consecutive year,” said Jim Maxim, Jr., President of MaximTrak Technologies. “We thank all the dealers who took the special time to get involved and vote for MaximTrak because of how we impact their business.”

“That dealers went out of their way to voluntarily recognize us affirms to OEMs and our other global partners in the U.S., Canada, China, Australia, South America and Europe that MaximTrak creates world-class F&I experiences that not only handle the challenges of modern F&I but increase profitability and CSI scores.” Maxim added.

MaximTrak, a RouteOne Company, offers the industry’s only all-in-one, flexible F&I system preferred by top names concerned with efficiency, profitability, compliance, and the modern customer experience.

With a comprehensive array of best-in-class products, MaximTrak has redefined the F&I transaction into customizable workflows to meet the demands of F&I Managers, Agents, Dealer Principals, and OEMs around the world. These products include; FLITE™ (interactive touch technology, smart survey, decisioning engine, risk profile, intelligent product recommendations), MenuTrak (interactive menus, sales aids, videos, compliance management), ETrak (e-rating, electronic contracting) and Dashboards (custom executive reporting).

“Using MaximTrak for their F&I processes, dealers deliver a customer experience that replaces any feelings of ‘being sold’ with trust and transparency when offering the best solutions for the customer. This is a significant step in serving modern consumers who demand informed, individualized, and intelligent decisions,” Maxim added.

The MaximTrak platform transforms the vehicle delivery process into a customer-friendly program that converts traditional F&I wisdom into consistent, repeatable and sustainable results. For more information, call 1.800.282.6308 or visit www.maximtrak.com

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RouteOne and MaximTrak Come together to Innovate the Vehicle and F&I Sales Process


RouteOne has acquired the assets of MaximTrak and its related business and will operate MaximTrak through its wholly‐owned subsidiary RouteOne Holdings. This will bring together two long‐time partners to deliver a seamless vehicle F&I sales process.

The vehicle purchase process has undergone fundamental changes in recent years, and will continue to do so with increasingly rapid speed. Consumers and dealers alike expect consistency and seamless transition across all physical and digital sales channels. As a result, both RouteOne and MaximTrak have been pursuing aggressive strategies to innovate the sales process on behalf of their respective customers. RouteOne and MaximTrak’s complementary strategies have now come together to deliver on the vision of a complete sales and F&I solution that meets OEM, dealer and consumer needs – any time, any place, and on any device.

Key Facts:

  • MaximTrak will be operated by RouteOne Holdings, a wholly‐owned subsidiary of RouteOne.
  • MaximTrak leadership and team members remain in place, and continue to operate from the MaximTrak PA offices.
  • Justin Oesterle and Jim Maxim, will operate as the senior management team of MaximTrak.
  • RouteOne and MaximTrak serve: 1,400+ finance sources, 18,000+ dealers, 130+ dealer service providers, 80+ aftermarket insurance providers, and 10+ OEMs.
  • RouteOne and MaximTrak employ approximately 400 people with offices in Michigan, Pennsylvania and Canada, as well as local staff in major markets.
  • Directly and through partnerships, RouteOne and MaximTrak have customers in the US, Canada, Puerto Rico, and Mexico.
  • RouteOne and MaximTrak product integration began prior to the acquisition and will now be further developed and strengthened on an expedited basis.
  • RouteOne was founded in 2002 by Chrysler Financial (now TD Auto), FMCC, GMAC (now Ally), and TFS.
  • MaximTrak was founded in 2003 by the Maxim family.

“RouteOne has had a long and successful relationship with MaximTrak, and we share very similar cultures, values and DNA,” said RouteOne CEO Justin Oesterle. “We are excited to have made this acquisition happen as we believe it creates significant value for all our customers at the OEM, finance source, provider, and dealer levels. It also creates strategic and economic value for RouteOne’s owners: Ally, Ford Credit, TD and Toyota Financial, all of whom supported the investment. I, and the entire RouteOne team welcome MaximTrak to the family. We look forward to doing great things together for the industry.”

“The entire MaximTrak team is excited and energized by the growth opportunities that this transaction represents for our customers, employees and key stakeholders. Like RouteOne, MaximTrak is an established, innovative leader in the F&I space,” said MaximTrak President, Jim Maxim, Jr. “Where RouteOne excels in the finance elements of F&I, we excel in the “I” side of the equation and in developing technologies that optimize the dealership process and ultimately dealer profitability through F&I product sales. Together, with our combined scale, talents and product line‐ups, we will be able to provide a complete digital workflow from initial customer contact and first pencil to finance, aftermarket and eContracting across online, mobile and in‐store channels. With that, our emphasis will be               on helping our customers deliver a buying experience they control and one that consumers actually want.”

The acquisition is effective as of December 20, 2016.

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MaximTrak Launches New Website and Content Initiative for Learning Dealerships


WAYNE, Penn.As dealerships continue to modernize and position their F&I services to deliver a more engaging and compliant customer experience in less time, their need for timely information, best practices, and how-to tips is increasing.

In response, MaximTrak Technologies, a leading F&I technologies platform and services provider, launched today a new interactive technology website and content-rich learning initiative for auto, powersports and RV dealerships.

“We recreated our digital face to better deliver answers to the questions dealer principals and general managers ask about resources that can help their F&I departments adjust to the changing rules, practices and consumer behaviors radically altering F&I,” said Jim Maxim, Jr. president, MaximTrak.

Maxim was recently named a “40 Under 40” nominee by Agent Entrepreneur magazine, which recognized Maxim among other “young executives making impact in the agency, dealer services and F&I products space.” In April, CIO Review magazine recognized MaximTrak as a leading automotive technology solutions provider offering digital F&I technologies dealers increasingly view as critical.

Maxim said the company’s new website continues to address client feedback. “Dealers, GMs and F&I staff who now view maximtrak.com can shop the latest digital F&I tools and view and download educational whitepapers, videos, e-books and other learning resources that can help them be more successful – for themselves, their employers and their customers.

“Our goal is make our clients’ F&I processes more profitable and compliant while moving their customers through the process in less time, which multiple consumer surveys confirm contribute to customer satisfaction,” Maxim said.

As part of CIO review’s recognition of MaximTrak, it pointed out that dealerships using MaximTrak report an average 33% increase in service contract penetration and over $500 per car higher PVR (Per Vehicle Retailed). For Chrysler Mopar and its private labeled solution called MenuConnect, MaximTrak helped boost average dealer increases of over $535 per vehicle. A 2015 re-examination of this original study and involving more dealerships shows these dealers now achieving even greater PVR results.

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CIO Review Recognizes MaximTrak for ‘Revolutionizing Automotive Retail’


WAYNE, Pa.For the second year in a row, CIO Review magazine has recognized MaximTrak Technologies as a leading automotive technology solutions provider, featuring this year company president Jim Maxim, Jr. on its cover.

CIO Review profiles technology solutions that can redefine the business goals of their users. In naming MaximTrak, it noted that the company’s digital F&I platform that exceeds dealership and customer expectations. This tool called FLITE does so by combining the latest digital technology, streamlined transaction processes, customer-centric educational videos, visual sales presentations, interactive surveys, and custom package building to improve margins and product penetration for auto, powersports and RV dealerships. Readers can download a copy of the complete issue from the MaximTrak website.

CIO Review and its review board recognized that the digital F&I technologies and customer-centric focus we pioneered for dealers are becoming understood as critical focal points of the automotive industry,” said MaximTrak Technologies President Jim Maxim, Jr.

To assist with its 2015 evaluation of contenders, the magazine assembled a panel comprising CEOs, CIOs, chief marketing officers, venture capitalists and analysts. “In our selection, we looked at vendors’ capability to fulfill the burning need for cost-effective and flexible solutions that add value to the complex automotive landscape,” the editors said.

CIO review points out that dealers using MaximTrak can realize significant increases profitability. Dealerships using MaximTrak report an average 33% increase in service contract penetration and $538 per car higher PVR (Per Vehicle Retailed). For Harley Davidson Financial Services (HDFS) and its private labeled solution called MenuLink, MaximTrak helped boost average dealer increases of over $350 per bike.

“Right from our conception, we knew that technology could streamline and improve dealership F&I departments,” CIO Review quotes Maxim. “Our job was to move the F&I needle and enhance profitability, all the while ensuring compliance and providing tools to enable a better customer experience,” he said.

MaximTrak Technologies, Inc. is the automotive, motorcycle, boat, RV, and power sports industry’s premier F&I Menu and Reporting Systems provider. The MaximTrak platform transforms the vehicle delivery process into a customer friendly program that converts conventional F&I wisdom into consistent, repeatable and sustainable results.

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Maxim to Talk Tech at Agent Summit


LAS VEGAS — Organizers of Agent Summit V have announced that Jim Maxim Jr., president of MaximTrak, will discuss the impact of new technology on agency operations in a keynote address at the event, which is scheduled for March 2–4 at the Venetian Palazzo Las Vegas.

“Agents have much to gain from a comprehensive overview of game-changing technology,” said David Gesualdo, show chair and publisher of Agent Entrepreneur and F&I and Showroom. “Anyone who knows Jim and his work knows that he is singularly qualified to tackle this topic.”

Maxim’s presentation, “The Technology-Driven Agent: Embracing Change to Survive and Thrive,” will begin at 4 p.m. on Tuesday, March 3. He is expected to touch on several topics related to embracing technology in agency operations, including what to look for in an IT partner, using advanced tools to drive sales and business intelligence and how to anticipate potential threats.

“Jim Maxim Jr. is a special talent who has a thorough understanding of both agency operations and our technology needs,” said Randy Crisorio, president and CEO of United Development Systems Inc. (UDS) and chair of the Agent Summit advisory board. “Expect to hear his vision of technology in today’s competitive environment and ‘tomorrows requirements’ for agencies to prosper in the F&I space. The expression Tomorrow’s Requirements is one Jim will bring to life in his presentation giving you a heads-up on what you need to do to prepare.”

To register for Agent Summit or for more information, visit AgentSummit.com. Attendees who register on or before Feb. 1 will enjoy a $100 early-bird discount. For sponsorship and exhibition opportunities, contact Eric Gesualdo via email hidden; JavaScript is required or call 727-612-8826.

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Tablet Technology: Gimmick or Key to the Future?


We occasionally receive questions from readers, and recently we got one that we felt needed an expert answer. We reached out to four experts in the field seeking their take on the matter: John Vecchioni; Matt Nowicki; Jim Maxim, Jr; and Shawn McCool. Below, each of them tackled the same question:

“Do you believe tablet technology really adds value to the F&I office, or is it just another gimmick?”

John Vecchioni
National Sales Director, United Car Care

The idea of utilizing a sales menu in the finance office has many merits, but for some, it poses many obstacles in their comfortable sales process. Some will say there is data suggesting increased product sales as a result, and it is hard to dispute that product sales do increase just for the asking, or in this case, for the showing. But if the menu can increase product penetration so dramatically, then why do we need a finance manager? The incontrovertible fact is that menus don’t sell products and were never designed to sell products. People sell protective products on the merit of need and value. It’s always been that way and will continue to be that way. Now, don’t be foolish and look at a resource as something that can’t be utilized. The menu can and will assist you in building value in protective products.

It seems the conversation about today’s technology in the finance office regards the utilization of an iPad for product menu presentations. I suppose there is an argument to be made for iPad usage. One specific argument for using an iPad is ensuring that everyone is able to see every product every time and, of course, any electronic menu can facilitate that. We talk about the menu so much that it has become a daily topic in many stores. Some stores have even gone to the point of having third parties review files to ensure a menu has been presented.

Let me make this perfectly clear, menus, whether electronic, paper or introduced on an iPad will never sell protective products in the finance office. They will never take the place of integrity and transparency. There is no magic technology that will do the work necessary in building value for the customer and creating honesty among those who look for angles to get something for nothing. There is no technology that will build credibility and rapport between the finance manager and his or her customer. In other words, there is no magic bullet. However, the iPad presentation has some merit in that it engages the customer in choosing which product fits their needs. If this is what it takes for a commissioned finance person to present all of his or her product all the time then, so be it.

Keep in mind that the job of sales professionals is to find and fulfill a need with their customers. Technology allows us to present features and benefits in a variety of ways, but it will never perform the act of selling. It will never be able to enhance features in the product that appeal to the customer. In fact, to be honest, the menu is here to stay because of the inability of some to sell product, and to discourage the dishonest practice of payment packing. It also eliminates customers claiming they were never presented protective products when circumstance arose; because the legal community solicits consumers of auto purchases to bring them the paperwork so they can find liability to initiate a lawsuit. Because of the success of these suits, the need to hold the customer and the finance manager accountable has become a necessity for dealers to protect themselves, ironically, from their employees and their customers.

In today’s “gadget” driven world, the use of an iPad to introduce protective products to our customers can create some fun and take the anxiety out of the initial sales pitch. A customer can review products prior to entering the finance office and determine if they have a need, or simply look products over out of curiosity. There are some who would say this is introducing product without knowledge of need. The first step in sales is determining a need before describing features and benefits; to do otherwise would enhance the probability of missing the need of the customer and make closing the sale difficult.

Whether it’s an iPad, electronic menu or a printed menu, the fact remains: never does a sale occur without the customer seeing a need in the product. Need drives value, and value drives decision when purchasing anything. By utilizing resourceful tools that are available, the finance office can become more efficient and, in turn, allow more time in discovery. In the end, the introduction of a product menu is essential to the business; just keep in mind that customer facts trump technology.

Jim Maxim, Jr.
President, MakimTrak Technologies

The anecdotal and observable evidence substantiating the popularity and acceptance of tablet and smartphone technologies for personal and business use is hard to miss. Their mobile advantages help consumers search for restaurants while on the go – and post selfies to Facebook while there – and enable businesses to break free of the PC and take needed data into the field or showroom.

Tablets and other mobile devices are not gimmicks, they are valuable production tools for F&I. Using them helps F&I be more flexible. Their use makes consumers feel more comfortable with the sales process, as more and more consumers today use these tools and rely on them to make their life simpler.

If we perceive using tablets as giving away control, we’re still selling in the ‘90s. Once we recognize that consumers today have more control over the car-buying process than many of us would like to acknowledge, we’ll realize that trying to control the sale by managing the information flow and using canned closes simply loses money and customers for the dealership.

Instead, using tablets and other mobile technologies to present F&I options gives customers more control – and consumer studies say that’s important to consumer retention. Tablets put F&I information in consumer’s hands, where they want it and in an understandable format. They are familiar with these tools. They use them and trust them – and perceive businesses that do likewise as businesses they’re more likely to patronize.

We analyzed this concept quite a bit before investing heavily in our new mobility solutions for dealers. Henry Blodget, CEO and editor-in-chief of Business Insider, has posted his research and findings publically for a few years now. He draws several conclusions, but the most insightful that has an impact on our discussions today is this: “Mobile devices will dwarf the number of PCs in the market in the next 24-months and based on global shipment data, tablets are already cannibalizing the PC market… quickly.”

Matt Nowicki
Vice President of Retail Software, IAS

F&I tablets are as helpful in the F&I office as they are useful in keeping young kids engaged! Dealership tablet technologies are very broad and can be used in several ways that range in value from dealership to dealership. The IAS tablet technology, SmartPad, is used everywhere from the sales process to the service drive. But what most of our customers like to use it for is the transition from sales to finance. In addition to creating more sales opportunities, tablet technology shortens the F&I process by gathering and presenting a customizable array of information while the customer is preparing to be transitioned from sales to the F&I office. It goes beyond the typical survey and interview by using dynamic video and multimedia presentations designed to engage the customer in additional sales opportunities once they are turned over to F&I.

Tablet software is also easy to customize because the configuration is often Web-based, meaning dealers can tweak presentations on an as-needed basis and their tablets are updated immediately. At their core, technologies like SmartPad can be used to provide the simple CSI survey style of old, but also have the capabilities of presenting and gathering information in an engaging way that has never before been done in F&I.

Dealers can also go one step further with technologies that offer controlled menu presentation via tablet. These technologies allow F&I mangers to present all of their products in a manner similar to a traditional menu, but also include a host of electronic sales tools, product videos and electronic brochures, as well as other materials which would normally be shown via a paper evidence manual.

If an F&I manager is using the tablet as a simple presentation tool and not utilizing a customer software program like SmartPad, then perhaps it could be considered a new way of looking at the same information. As for IAS, we see tablet technologies as a powerful tool at the finance office’s disposal, which will only increase in popularity in the coming years.

Shawn McCool
Co-Founder, iTapMenu

If you think it’s a gimmick, then it’s a gimmick. An example: if you think the pre-delivery interview is a gimmick, then you aren’t going to be successful implementing it into your process. Tablet technology is no different.

Does it add “real value?” If that’s the actual question, and it’s a good one, then of course it does. It provides more content about the products, supports the presenter’s credibility by displaying the cause-and-effect of the transaction to the consumer and speeds up the process. A primary goal at iTapMenu is to take the deficiencies of a paper menu and fill in the gaps. There are some things you obviously can’t do on a piece of paper.

You can’t re-configure a menu column in real-time. You can’t change the term and/or interest rate. You can’t adjust a product price. You can’t choose when to display information about the product. If designed with this in mind, an iPad menu will correct some of the deficiencies of a paper menu; these aren’t features you’ll use every time, but when you need them, at that moment, it’s nice to know you have them available.

To fully answer the question, I would compare a completely committed F&I manager who uses a paper menu with an F&I manager who hasn’t bought in and feels an iPad menu is a “gimmick.” The results will prove this: It has – and always will – come down to the person. But what’s really great to see happen, is the successful F&I manager who thinks bigger. Their CSI is off the charts and their PRU is great, while still using a paper menu. Then they see the tablet technology and they can’t wait to implement it into their dealership. 100 percent of the time, there are improvements, literally every time. The person and their attitude are vital.

How are tablets being used today? I can speak only for iTapMenu: and the answer is a variety of ways. There’s no reason you can’t simply replace your existing menu with tablet technology. You can set up tablet menus with a three-column structure, and fit it into a paper menu process rather easily. But, there are also a large percentage of users that make the presentation mobile, and are exploring the limits of what the technology can do.

As to the future of tablets in F&I, there’s no reason to give you a boilerplate answer. I don’t know. If I did, I wouldn’t make it public anyway! Is it here to stay? That is a fact. But there are still many unanswered questions, such as “what will it do,” and “what will it look like?” It’s going to be really incredible, and the category is going to evolve well into the future.

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