Founded by a group of mobile technology and auto dealer insiders, TrueSpot solves one of today’s biggest challenges for auto dealers – asset locations and operations management. US retail auto dealers spend more than $325 million per year replacing lost keys and losing another $3 billion a year in inefficiency and wasted time tracking down assets. This can translate into tens of thousands of dollars of losses for single dealership owners, not to mention fueling an environment and reputation of frustrated customers, walkaways, and lost revenue.
TrueSpot technology dramatically reduces or eliminates these costs by adding highly accurate and cost-effective asset mapping to keys and cars. These patented technologies integrate dealer back-office data to streamline workflows, including increasingly business-critical reconditioning operations.
“We are excited to demonstrate at Used Car Week that lost margin due to untracked assets is a thing of the past,” said Mike Hanna, CEO, TrueSpot.
“TrueSpot’s patented Real-Time Location Services reduce recon holding costs for customers by up to 50%.”
TrueSpot’s platform comprises proprietary wireless locator tags attached to keys, cars, and other dealership assets. Combined with a low-powered enterprise campus network and applications for Apple and Android wireless devices, dealerships can instantly track assets and map critical business processes into one powerful dashboard. And, unlike competitive asset-tracking technologies, TrueSpot location tags can be easily transferred and recycled to track other assets on the lot.
TrueSpot is exhibiting at booth #406 at Used Car Week 2021, Nov. 15-18, 2021. CEO Mike Hanna is speaking in the NAVIcon track on November 18th in the Pavilion from 1:30 p.m. to 2:15 p.m. Pacific Standard Time. TrueSpot executives are available for interviews.
About TrueSpot:
TrueSpot was founded in 2017 by a collaboration of mobile technology insiders and auto dealership owners and operators to invent the industry’s first Real-Time Location Service, delivering pinpoint locations for vehicles, keys, and more. Through the realization of this technology, TrueSpot is transforming dealers’ everyday operations with the industry’s most powerful and insightful lot management and recon management solutions. TrueSpot partners with key technology and industry players such as Microsoft, CDK Global, and DealerBuilt while also easily compatible with many other dealership technology partners such as Dealertrack Technologies, vAuto, DealerSync, HomeNetAuto, and many others.