WHAT IS OPEN DEALER EXCHANGE?
Open Dealer Exchange is the company behind the scenes that is revolutionizing the vehicle finance industry. Our software is embedded into the DMSes used by the vast majority of dealers today. We provide not only the functionality in the DMS, but the back-end processing that moves the electronic loan transaction from dealer to lender.
We're more than just an electronic portal. We're the company that provides the complete digital solution that automates the entire loan process, making life easier for dealers, providers and lenders. Our integrated solution maintains data integrity, requiring one-time entry by working within the DMS, bundling and packaging the entire transaction data together, and submitting it to lenders in its entirety.
Dealers and providers have the right aftermarket contract for the right vehicle, eliminating discrepancies and problems.
Lenders receive ALL the data, providing complete transparency into the loan transaction with all deal data itemized, making compliance simple and straightforward.
With expert management and dedicated team members hailing from diverse technologies, automotive and financial arenas, Open Dealer Exchange remains committed to providing its customers with the most innovative solutions and robust data exchange in the industry.
The new company with decades of experience
While Open Dealer Exchange opened the doors in 2009, our management team has decades of experience in the vehicle finance industry. We've been intimately involved in electronic contracting since the inception, coming together to revolutionize the vehicle finance industry. We developed contract validation to solve the issues that cause lenders and dealers grief and funding delays and our eContracting solution transforms the entire loan process from paper to digital—the only one in the industry providing a FULL electronic solution.
We are focused on one thing, and one thing only: creating the best electronic vehicle finance process in the industry. We passionately believe in what we're doing and in the advantages true eContracting provides Lenders, Dealers and Providers. With that kind of dedication, you can rest assured knowing that we won't rest until you're experiencing seamless, trouble-free transactions first time, every time.
WHY WAS OPEN DEALER EXCHANGE CREATED?
Founded in January 2009, the company is a joint venture between CDK Global™, formerly ADP Dealer Services, Inc., the largest global provider of integrated information technology and digital marketing solutions to over 26,000 retail locations and manufacturers in over 100 countries around the world, and The Reynolds and Reynolds Company, a leading provider of integrated solutions that help automotive retailers manage change and improve their profitability.
As an open platform, Open Dealer Exchange can deliver integration and related services to all dealer system providers and finance sources that serve automobile and truck retailers, power sports and recreational vehicles.
While the founders continue to support the mission, vision and growth of Open Dealer Exchange, the company operates independently, with a defined management team and employees committed to its success.