iVendi image of mobile reservation, June 2020iVendi image of mobile reservation, June 2020

Supplier News

Tech firm publishes White Paper to help dealers with digital transformation

  • Four key points are covered in document
  • Idea is to make businesses fit for post-pandemic markets
  • Connected retail is seen as crucial

Time 3:42 pm, May 26, 2021

Motor retail tech firm iVendi has produced a White Paper to help dealers complete their ‘digital transformations’.

It says Connected Retailing: Addressing the Challenges of Digital Transformation will make used car, van and motorcycle companies fit for the post-pandemic markets.

Chief executive James Tew said: ‘With the end of the pandemic now hopefully in sight, we’ve been spending considerable time examining how it has changed our understanding of the ways in which technology can best be used by dealers.

‘Some of these are quite obvious and should be apparent to all dealers but others are relatively subtle.

‘However, taken as a whole, we believe there has been something approaching a fundamental shift.’

Tew said four key points had to be acknowledged, and were covered in detail in the paper.

‘Firstly, your systems must be able to handle any kind of buyer – whether they are digital only, traditional showroom purchasers or a hybrid buyer who uses a combination of both channels.

‘Your dealership needs a digital infrastructure that can transition between each type and, crucially, offer the same level of service to all.

‘Secondly, it has become increasingly clear that your physical and digital showroom are really one big sales floor, and this is what we call “connected retail.” There can be no artificial separation of the two.

‘Next, you need to ensure profitability is maintained across the whole deal. Whenever pressure on vehicle margins increases, it becomes crucial for dealers to maintain income in areas such as warranties and other value-added products.’

He said the final point centred specifically on iVendi’s technology, with its Digital Deal product enabling dealers to offer the best aspects of showroom and online sales journeys completely digitally.

‘It allows a complete proposition to be built for a specific customer in less than a minute and has now helped our dealers towards £92m of sales.’

The paper can be downloaded at https://ivendi.com/whitepaper.

iVendi sees sales for dealers rise to more than £1.3bn over 12 months of pandemic

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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