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A Closer Look make better use of their time. A convenient mobile quot- ing tool provides prospective customers with estimated payments. Web-based software automates the credit application process from start to finish. Because customer data is 100 percent owned by the dealers and securely stored at DealerBahn, applications can be created quickly using pre-populated fields. Integrated credit reports can prequalify transactions based on lenders' credit parameters. Available electronic connections to finance sources make it possible for authorized users to check the status of transactions and receive or transmit documents. The Web-based software is easily implemented, and allows dealers to enjoy the benefits of a cutting edge credit application management system at a cost of $100 per month per location. There is no expensive hardware to purchase or software to manage and maintain. Of course security is paramount. DealerBahn addresses this with an SAS 70 type II certification. This internationally recognized auditing standard developed by the American Institute of Certified Public Accountants, ensures secure controls over technology and related processes. In addition to the software, DealerBahn can provide dealers with professional sales finance support. Payment is based on closed transactions and/or a flat monthly fee. Compared to the $80,000 to $100,000 cost of a dedicated finance professional on staff, the DealerBahn solution is both flexible and affordable. Are You Missing a Lost Revenue Opportunity? Ball is careful to point out the company is not a broker. "We work only for the dealer. Part of our mission is to reduce the costs associated with equipment finance. So it is in our interest to deliver the best possible terms, rates and payments to their customers," he explained. In fact, Ball is anxious to show dealers how they can make more money providing valued financial services. Earlier in his career, while working at Citi Capital and The Associates, Ball saw the lost revenue opportunity for dealers around equipment financing. "It's the biggest opportunity that many construction equipment dealers are missing," said Ball. "Dealers are in the best position to provide customers with convenient financing. They should make a fair profit on all products and services they offer. Among auto and truck dealers it's been a long-held and common practice that their customers expect and appreciate." The Advantage of a Larger Lender Network DealerBahn is a relationship network. Dealers and lenders must agree in advance to be visible to each other within the system. DealerBahn's expanding lender network currently includes eight to 10 reputable lenders who are active in the construction equipment market. They will also work with dealers to develop finance merchandising tools and forge new lending options. DealerBahn's Mobile Quote This year Dealerbahn introduced Mobile Quote, an easy-to-use payment quoting tool designed for commercial equip- ment sales teams. It is available as a free download on your Android or iPhone smartphone. Mobile Quote generates an estimated payment and immediately sends prospects a quote using your e-mail from your Android or Apple smartphone. Plus, users can store their quotes on their phones for future reference. Quotes include amount financed, interest rate, term, monthly payment and pay factor, sender contact info and a general disclosure. Unlike some other applications on the market, Mobile Quote protects your privacy. They do not collect or store information about your prospects or customers or solicit them. Ball views DealerBahn's services as complimentary to captive finance companies. "We want to make the dealer's relationship with their captive finance source(s) more valuable and efficient for the dealer," said Ball. "Captives bring value through low interest rates and creative payment programs. We think the dealer should take advantage of those programs where it makes sense for the dealer and the customer." Even if you aren't interested in making money on financing, the value of even one incremental sale each month is significant over the course of a year. Koy Kelley, co-general manager of Witch Equipment Company in Fort Worth, Texas, has seen a significant improvement in closing rates since moving from an in-house system to DealerBahn. "It frees up our sales team to go after more deals," said Kelley. On larger deals, DealerBahn represen- tatives work with customers directly to ease any concerns. "They are very personable and professional," said Kelley. "It creates more value for our company and ultimately provides better service to our customers." Bridwell, who has used the service for more than two years, appreciates the consistency of the DealerBahn service. "A consistent channel of financing is a benefit because our salespeople know what to expect," said Bridwell. "They are able to build relationships." Dealer- Bahn levels the playing field by empowering dealers to tap into a much broader network of lenders than would be possible on their own. Closing more sales. Finding new revenue streams. Today's competitive construction equipment market is more chal- lenging than ever. But if you are willing to change your thinking, you just might find a solution in DealerBahn. n November 2012 | Construction Equipment Distribution | www.cedmag.com | 43