MenuVantage Reaches New Milestone, Details Company Growth
ORLANDO, Fla. — MenuVantage recently announced that since it was introduced 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 its auto dealer clients.
"Dealers using our software on average see $903 per unit compared to $633 per unit without the system, a 30-percent increase in revenue and a total of $450 million in additional gross for dealers over the past four years," commented Phillip Battista, MenuVantage co-chief executive officer.
"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, which streamlines the F&I process by providing dealers with direct integration to more than 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 dealership customers nationwide, officials noted. Basically, 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.
Additionally, MenuVantage said it 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.
Furthermore, the company reported that it services more than 50 percent of the top 20 dealer groups in the nation.
Overall, officials said MenuVantage has seen a strong increase in market presence and currently processes more than 100,000 deals per month for more than 9,000 users at dealerships in all 50 states, as well as Puerto Rico and Canada.
For more information, visit www.menuvantage.com.