IAS News and Press
IAS Introduces SmartEye Video-on-CD-ROM Technology to Record F&I Transactions
Oct 11, 2001
F&I News Magazine
Innovative Aftermarket Systems (IAS) has introduced SmartEye, which they call "the next generation in digitally recorded and archived F&I transactions." According to IAS, SmartEye uses state-of-the-art computer software and technology to provide full-color, TV-quality smooth motion video.
SmartEye archives these recordings on CD-ROM (up to 15 hours per CD), as opposed to traditional VHS tapes. By storing recordings on CD-ROM, dealers save money on media costs, and save storage space, according to IAS. "Just think about the size difference between 100 CDs and 100 VHS tapes!" said Bob Corbin, senior vice president at IAS. "PLUS, CD-ROM media is not affected by heat, cold, magnets, or time. They last forever!"
According to Corbin, SmartEye not only offers the advantage of storing video on CD, it also retrieves customer transactions with the click of a button. By using the "SmartEye Customer Search Engine," customer transactions can be retrieved by name, stock number, products purchased, business manager name, and/or a host of customizable fields. (In its simplest form, only the customers name is tracked with the video). This gives the dealer instant access to customer transactions, according to Corbin.
"Imagine being able to watch every customer delivery in your dealership!" Corbin said. "Your F&I productivity and income would increase dramatically because you could pinpoint exactly where each F&I manager needs help.
"We have a dealer group in San Antonio who has been videotaping their F&I transactions for over 2 years and has told us it resulted in an increase in F&I income per unit from $700 to $1000," Corbin told F&I Management and Technology. "He is converting all his dealerships to our new product."
Corbin says SmartEye offers a three-fold benefit to dealers:
Legality and Disclosure: "SmartEye ensures that customers receive the proper product information for each of the F&I products, and ensures all products are properly disclosed to alleviate legal complexities," Corbin said.
Business Manager Compliance: According to Corbin, SmartEye ensures that all dealership finance managers are presenting all products to all customers all the time.
Training and Tracking: SmartEye stores each customer in a searchable database. This gives the dealer and his F&I training vendor the ability to search and view particular customer transactions to show personnel how to improve F&I sales and penetration. "For instance, dealers could pull up all customers who didn't buy a service contract and see what actually happened and make improvements," Corbin said. SmartEye works with the F&I department's existing computer equipment, but requires that the camera, camera-computer adapter, external CD-writer, and associated cables and mounting accessories be purchased from Innovative Aftermarket Systems, L.P.
Pricing Structure
The first office costs $2,395; each additional office is $1,995. This price assumes the dealer will use existing PC's in the F&I offices, according to Corbin.
This includes the necessary hardware (camera, camera-computer adapter, CD-writer, and cables/mounting accessories) for SmartEye, the SmartEye software, first year's software license, unlimited warranty and technical support.
After the first year, there will be an annual $299 software licensing and support fee per system. This fee will provide unlimited technical support and warranty for the year, according to IAS. As an option, IAS can supply the PC for a charge.
What IAS Provides
There are four components to SmartEye:
- Wireless Digital Color Video Camera (w/mounting bracket)
- Wireless Video Receiver (attaches to PC)
- External CD-RW drive ("burns" CDs)
- IAS SmartEye software CD ROM (w/phone tech support)
What the Dealership Needs
- Pentium II or AMD 400Mhz processor (or higher)
- 64 megabytes of RAM (or more)
- 10 gigabyte hard drive (or more)
- Windows 98, ME, or 2000
- Two available USB ports (or more)
For more information, contact IAS at 1-800-346-6469 ext. 8063 or visit www.smartdealerproducts.com.
About SmartDealerProducts from IAS
SmartDealerProducts from IAS is the leading provider of revolutionary F&I software solutions for the automotive industry since 1984. SmartDealerProducts three step process is uniquely designed to maximize profit potential and increase customer satisfaction index (CSI) scores for automotive dealerships. SmartTrac, is an innovative presentation tool provides important F&I product information to retail consumers. SmartMenu allows dealerships to sell more products by providing professional, customized F&I menus for each and every customer, in seconds. The last step in the process, SmartEye, digitally records the transaction to monitor the process for training, legality and quality assurance. For more information, please visit www.smartdealerproducts.com.