Dallas, TX Pearl Technology Holdings, LLC, (Pearl) recently announced that its ShowroomXpress platform (SRX) has successfully launched in-store pilot programs for both the Garff and Cochran Automotive Groups. The new express retail platform enables dealers to reduce the current and painful 3.5 hour retail process to under 35 minutes. SRX provides fluid integration from its online website widgets to in-store tablets, pads and desktop computers, revolutionizing the way dealers retail vehicles. Salespeople never have to leave a customer as the platform has a built in real-time communication flow to management.
I cant tell you how excited we are to see how these dealers and their customers are responding to SRX, said Bruce Thompson, CEO and Founder of Pearl. We decided to take a step back this year and really concentrate on building every element of the retail transaction within SRX. The system calculates lease and purchase payments to the dollar in under 5 seconds including incentives, taxes, trade equity, doc fees, dealer finance profit and aftermarket products. This allows consumers to shop a dealers inventory by pre-qualified payments, which is a game changer. Garff and Cochran are very intelligent and progressive dealers and they challenged and pushed us over the last 10 months. In my opinion, the result is revolutionary and something I think every dealer must have, Thompson continued.
ShowroomXpress is a 360 degree express automotive retail platform designed for franchise dealers of all shapes and sizes. It allows customers to complete a vehicle transaction online from start to finish, or pick up where they left off at the dealership. The platform offers an intuitive and transparent customer shopping experience and incorporates Experian Pre-qualification technology which allows a customer to get pre-qualified without a hard inquiry or SSN. SRX also captures the buy rates of every U.S. auto lender. Dealers can select the lenders they partner with and also factor in a finance profit for every payment displayed.
The top three lenders are displayed to the consumer for both purchase and lease transactions, giving the consumer unprecedented transparency with dealer finance profit protected. The SRX platform has been developed for both one-price and negotiation stores and allows a desk manager or salesperson to adjust terms and roll payments in seconds. SRX provides instant two-way communication from a salespersons tablet or desktop to the sales tower so customers are never left alone. All negotiated terms and deal structure are communicated and displayed allowing a sales manager to make instant adjustments in seconds.
The ShowroomXpress platform Pearl has created is a shining example of how to differentiate the customer experience through innovative technology, said Dennis Patton, Vice President and COO of the #1 Cochran Automotive Group. We believe the tool will enable us to better serve the needs of todays digitally oriented, on-the-go buyers. Early feedback from our test stores has been great. Were beginning to see much faster transaction times due to the sales consultants ability to make adjustments without leaving the customer, and can also see how quickly the SRX system delivers accurate payment calculations. We give the Pearl team a lot of credit for listening and delivering this highly anticipated product, Patton added.
AutoNation has announced it has invested more than $100M in its new express retail strategy. As more of the nations largest dealer groups invest huge sums of money to change the automotive retail process, theres no doubt change is quickly on its way. Its our goal at Pearl to enable every dealer to deliver a world class express experience to their customers. We are helping dealers win with what we believe is the most advanced and powerful express retail platform on the market today, said Thompson.