CALGARY, ALBERTA--(Marketwired - Jan. 24, 2017) - Quorum Information Technologies (Quorum) (TSX VENTURE:QIS) released 2016 composite results today for its dealership customers that are using the revenue generating service tools that are provided to them as a part of Quorum's industry leading XSELLERATOR dealership management system (DMS).
XSELLERATOR contains ten (10) Make More Money (M3) toolkits - specific sets of process, software functionality and training which are designed to maximize dealership revenue. Chief among them is the fully-integrated and inclusive Vehicle Inspection Process (VIP), which encompasses the entire service flow starting with the customer appointment, through advisor and technician inspections and quoting additional work as required.
Quorum provides management performance monitoring tools to its customers to help them enforce the processes within their dealerships and also measures the effectiveness of the software and training it provides by examining actual results.
The company announced today that as of the end of 2016, 115 dealers have been trained on the VIP process and generated over $68 million in additional customer pay revenue as a result - up from $51 million in 2015. The overall average per dealership in December 2016 was $57,607 in additional customer pay revenue while dealers in the "top tier" of process usage and maturity realized an average of $100,594 in additional customer pay revenue in December 2016.
Maury Marks, Quorum's President and CEO said, "This is exactly what we set out to do. Several years ago we decided to break new ground and turn the DMS into a true revenue generating tool that provides a solid ROI to dealers that they can clearly see for themselves. As we've progressed with training dealers on these processes, we've found that there are approximately four (4) stages of adoption. Each return visit from our consultant trainers helps dealers reach the next plateau and generate even more revenue. The results far surpassed our expectations and we've been impressed with what our dealer customers have been able to accomplish. The best part is that they are also increasing their own customers' satisfaction by providing superior service to their customers. It is a win-win for everyone."
Quorum is demonstrating the system at the NADA Convention in New Orleans this weekend, January 27th-29th. To schedule a demonstration, please visit www.QuorumDMS.com/nada2017. Quorum is exhibiting in booth number 4219 at the convention.
Quorum is a North American company focused on developing, marketing, implementing and supporting its XSELLERATOR product for GM, Ford, Chrysler, Toyota, Hyundai, Kia, Nissan, Subaru, NAPA and Bumper to Bumper franchised dealership customers as well as other franchised, independent and some non-automotive dealerships. XSELLERATOR is a dealership and customer management software product that automates, integrates and streamlines every process across departments in a dealership. One of the select North American suppliers under General Motors' DTAP program, Quorum is also one of largest DMS providers for GM's Canadian dealerships with nearly 30% of the market. Quorum is a Microsoft Partner in both Canada and the United States. Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS and in 2016 was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange. For additional information please go to www.QuorumDMS.com.
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