Reynolds Backs Location Technology Pioneer TrueSpot With Strategic Investment
The investment will enhance innovation, setting the stage for game-changing opportunities for dealerships through location intelligence
DAYTON, Ohio and IRVING, Texas
Nov 30, 2023
The Reynolds and Reynolds Company and TrueSpot, a trailblazing real-time location services company, have entered into a partnership after a significant investment by Reynolds. The partnership underscores Reynolds’ focus on innovative technologies to help auto retailers be more successful and TrueSpot's commitment to advancing asset location intelligence.
TrueSpot enables dealerships to dramatically increase efficiency across their variable, fixed operations, and reconditioning departments by substantially reducing holding costs, avoiding lost-key expenses, cutting wait time, and enhancing customer service.
“This investment marks a vote of confidence in TrueSpot's innovative and multi-patented AQFind platform," said Mike Hanna, CEO of TrueSpot. “TrueSpot’s platform enables dealerships to harness the power of real-time tracking and location intelligence to manage their assets, workflows, and operations more efficiently.”
To help dealers make informed decisions about their operations, AQFind automatically analyzes geospatial data and location-specific insights to drive workflow transformation. Dealers can access visual representations of these insights through smart maps, dashboards, and powerful reporting.
"We are delighted to collaborate with such a distinguished company like Reynolds," said Hanna. "Its investment and shared vision will undoubtedly expedite our growth, enabling us to fulfill our commitment to deliver the power of location data and intelligence to the retail automotive ecosystem and particularly dealerships."
TrueSpot and Reynolds have already begun injecting real-time asset tracking and location intelligence into Reynolds and Reynolds' extensive portfolio of leading dealer solutions like KeyTrak. This new functionality will be on full display at the NADA Show February 1, 2024, in Las Vegas.
“The transformative potential of location intelligence in retail automotive is significant,” concluded Chris Walsh, president of Reynolds. “TrueSpot's innovative approach aligns seamlessly with our goals, and we are enthusiastic about delivering enhanced value to our customers and the broader retail automotive ecosystem."
About Reynolds
Reynolds and Reynolds is a leading provider of automobile dealership software, services, and forms dedicated to helping dealerships achieve superior business results and enhance customer experiences. Headquartered in Dayton, Ohio, the company operates major U.S. facilities in Houston, College Station, Tampa, and Celina, with international operations in Canada, the U.K., and Europe. For more information, please visit www.reyrey.com.