Open Dealer Exchange Receives Michigan Business Development Program Grant

Open Dealer Exchange Receives Michigan Business Development Program Grant

Open Dealer Exchange, LLC, founded in 2009, is a joint venture between CDK Global (formerly ADP Dealer Services) and the Reynolds and Reynolds Company. CDK Global is the largest global provider of integrated information technology and digital marketing solutions to more than 26,000 retail locations and manufacturers around the world. The Reynolds and Reynolds Company is a leading provider of integrated solutions that help auto retailers manage change and improve profitability. Open Dealer Exchange was created to deliver digital solutions to the vehicle loan process to all dealer system providers and finance sources that serve auto and truck retailers and power sports and recreational vehicles.  Over these years, Open Dealer Exchange has grown into three distinct business units all focused on improving the Finance and Insurance (F&I) function within dealerships:

  • Deal Exchange – enables fully electronic transactions between dealers and their network of lenders,
  • Provider Exchange Network (PEN) – allows all aftermarket product providers to connect to dealers’ preferred point-of-sale systems,
  • 700Credit – the leading provider of credit bureau, compliance, prescreen and consumer pre-qualification tools for the automotive retail market.

The company is experiencing a period of significant growth and plans to lease a building in the city of Farmington Hills, MI that will allow room for continued growth. The new facility will incorporate state of the art technology and will provide collaborative and dynamic work environment designed to maximize employee satisfaction. The project is expected to generate a total capital investment of $3.9 million and create 50 jobs, resulting in a $350,000 Michigan Business Development Program performance-based grant. Open Dealer Exchange chose Michigan over competing sites in California and Texas.

The city of Farmington Hills is offering event center space for a job recruitment fair. For information about careers with Open Dealer Exchange or any of their business units, visit https://opendealerexchange.com/careers/