Open Dealer Exchange In Deal With Westlake

Troy-based Open Dealer Exchange LLC Tuesday announced an agreement with Los Angeles, Calif.-based Westlake Financial Services for credit application intergration directly within auto dealers’ Dealership Management System software.

The partnership will streamline the dealers’ workflow during the vehicle buying process and provide expanded capabilities in dealership inventory modeling.

Because of Open Dealer Exchange’s direct access to Automatic Data Processing Inc. and Reynolds and Reynolds DMS systems, Westlake Financial Services and their dealership customers will now be able to communicate directly via the dealer’s DMS during the credit application process, including credit decisions and dealer inventory tracking. This will allow greater dealer efficiency in determining which vehicle in their inventory is best suited for each customer.

“Ensuring a secure environment for the exchange of accurate data between a dealership and finance source is critical to both parties in completing swift and successful transactions,” said Marty Zwolan, vice president of sales and marketing for Open Dealer Exchange. “Both Westlake Financial Services and its dealer network will benefit tremendously from Open Dealer Exchange’s innovative technology solutions, and increase their competitive advantage in the marketplace.”

Added Ian Anderson, president of Westlake: “Westlake Financial Services and Open Dealer Exchange share a similar philosophy when it comes to helping dealerships. Our companies both believe in using technology as a tool to help dealers become more efficient and more profitable.”

To learn more about Open Dealer Exchange, visit www.opendealerexchange.com.

Open Dealer Exchange enables providers and finance sources to embed their offerings into point-of-sale systems used by automotive dealers to conduct business both in the showroom and the business office. A joint venture between ADP and Reynolds and Reynolds, Open Dealer Exchange exists to improve the overall F&I process within automotive retailers throughout the United States and Canada.

Westlake Financial Services is an Internet based, privately held finance company that specializes in the acquisition and servicing of sub-prime to near-prime automotive retail installment contracts. Westlake originates indirect retail installment contracts through a network of over 9,000 new and used car dealers throughout the United States. All collections and servicing are performed in-house from Los Angeles headquarters.

More at www.westlakefinancial.com.

(c) 2010, WWJ Newsradio 950. All rights reserved.

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