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Codeweavers Launches Finance Point of Sale Services for CRM & DMS Providers PDF Print E-mail
Wednesday, 28 February 2018
The days of the traditional stand-alone point-of-sale finance system are set to be numbered! This is the bold claim from financial technology experts Codeweavers.  

Codeweavers has announced its program to help phase out traditional stand-alone point-of-sale systems which have often resulted in dealers operating on multiple platforms to facilitate their finance activities.

Speaking at the launch, Codeweavers’ Sales Director Shaun Harris stated “For many years, people have discussed the need for the nirvana of a single system process in automotive retail; a system that would eradicate re-work and the potential errors associated with data replication, remove the additional data protection burden and improve both efficiency and customer experiences. Finance point-of-sale systems that do not integrate seamlessly with CRM and DMS systems are part of the problem that we want to take away.”

Rather than continuing solely to offer its point of sale system “Showroom” to dealers, Codeweavers has created a range of API’s (Application Processing Interfaces) that allow any CRM or DMS provider to create their own point-of-sale finance solution using Codeweavers services.

Harris commented; “This is a bold step, but one that candidly is overdue and necessary. By offering this service, we hope to make the stand-alone unintegrated finance point-of-sale system redundant.

“If every retailer in the UK saved 2 hours per week in administration time then the saving for the industry is £25 million per annum. In reality, our research into dealer processes via our User Experience team, informs us that the savings could be much greater; our most recent project with one retailer identified 2 hours per week per sales person. By bringing finance point-of-sale directly into the CRM process, we can make a dent in these numbers as well as bringing a more consistent approach to finance presentation.”

Codeweavers has already gained the support of a number of ‘early adopters’ from the world of dealer technology, with major CRM and DMS providers keen to integrate with the new service.

The new service will enable all Codeweavers web leads from their award-winning calculator range to drop into linked CRM systems. In turn, this will automatically generate finance quotes for these customers in the showroom, helping to create a finance package that meets the customer’s needs. From there, the customer can access a proposal form which has been pre-populated with any information held by the CRM system; finally, the proposed is linked to the chosen lender via Codeweavers technology.

Reflecting on the reaction of lenders, Harris notes; “I think they will be delighted with the initiative. After all, every customer will get a finance presentation in a controlled, accurate manner. It can only aid finance penetration rates in the retailer market. Going further, finance companies will benefit from improved data accuracy, which will aid acceptance levels and avoid re-work; finally, they will save time and money in supporting their own technology.”

Codeweavers plans further enhancements to the services for their CRM partners over the coming months, Harris concluded;

“This is stage one, we are making all of our services available to our CRM and DMS partners, so expect to see some exciting developments as they learn to use our services to their fullest extent.”

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